Section 23A of the Act of 2010 is amended -

(a) by the substitution of the following subsections for subsection (1):

"(1) A significant supervised entity (within the meaning of the SSM Framework Regulation) which is a regulated financial service provider or holding company shall not -

(a) appoint a person to its management body (within the meaning of the European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014)), or

(b) make any other appointment the approval of which is subject to the exclusive competence of the ECB under Article 4(1)(e) of the SSM Regulation,

unless the entity has been notified in writing by the ECB that it has approved the appointment.",

(b) in subsection (3) -

(i) by the insertion of "the appointment of" after "approve", and

(ii) by the deletion of "to the management body",

and

(c) by the deletion of subsection (7).