Consumer Protection Act 2007 (National Consumer Agency) Levy Regulations 2011

CitationIR SI 560/2011

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 8th November, 2011.

The National Consumer Agency (the ‘Agency’), in the exercise of its power to impose levies conferred on the Agency by Section 24B of the Consumer Protection Act 2007 (as inserted by the Central Bank Reform Act 2010 ) as approved by the Minister for Jobs, Enterprise, and Innovation and with the consent of the Minister for Finance, hereby makes the following Regulations:


1. These Regulations may be cited as the Consumer Protection Act 2007 (National Consumer Agency) Levy Regulations 2011.


2. In these Regulations;

‘Agency’ means the National Consumer Agency;

‘Bank’ means the Central Bank of Ireland;

‘Consumer’ means a natural person who is acting for purposes unrelated to the person’s trade, business or profession;

‘Chairperson’ means the Chairperson for the time being of the Agency;

‘Chief Executive’ means the Chief Executive for the time being of the Agency;

‘levy’ means a levy imposed under section 24B of the Consumer Protection Act 2007 (as inserted by the Central Bank Reform Act 2010 );

‘levy notice’ means the notice sent by, or on behalf of, the Agency in accordance with Regulation 5;

‘levy period’ means the period prescribed in the Schedules to these Regulations in respect of which regulated entities, as categorised in the Schedules, are obliged to pay the required levy contribution;

‘levy contribution’ means the amount expressed in the Euro currency that a regulated entity, as categorised in the Schedule, is required to pay to the Agency;

‘payment date’ means the date specified as the payment date in the levy notice being the latest date by which the levy contribution must be paid;

‘regulated entity’ means persons who are subject to regulation under the designated enactments and designated statutory instruments (within the respective meanings given by the Central Bank Act 1942 ). It includes financial service providers whose business is subject to regulation by an Authority that performs functions in an EEA country that are comparable to the functions performed by the Bank under a designated enactment or designated statutory instrument, and also includes former regulated entities who are regulated for part of the levy period and ‘regulated entities’ shall be construed accordingly;

‘Schedule’ means the schedule to these Regulations. ‘Schedules’ shall be construed accordingly.


3. These Regulations prescribe the application of levies and levy contributions payable by regulated entities. The levies relate to the function of the Agency in promoting the interests of consumers of financial services by;

a.providing information in relation to financial services including information in relation to the costs to consumers, and the risks and benefits associated with the provision of those services, and

b.promoting the development of financial education and capability.

4. All persons who are, or have been, regulated entities as categorised in the Schedules to these Regulations shall pay the required levy contribution to the Agency for each levy period in which they are, or have been, subject to regulation by the Bank. Where a regulated entity has been subject to regulation by the Bank for part of a levy period only, then the required levy contribution shall be calculated by reference to the number of days of such levy period for which the entity was regulated. Where a regulated entity becomes subject to regulation by the Bank for the first time during the levy period referred to in the Schedules, it shall not be required to pay a levy contribution unless specified in the Schedules.

Levy Notice

5. The Agency may transmit, or may arrange the transmission of, a levy notice in writing to a regulated entity indicating the required levy contribution payable by that regulated entity for the levy period and the payment date for submission of payment of the levy contribution.

6. A regulated entity not having received a levy notice remains liable to pay the levy contribution not later than 28 days after the...

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