Consumer Protection Act 2007 (National Consumer Agency) Levy Regulations 2013

JurisdictionIreland
CitationIR SI 409/2013

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 1st November, 2013.

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 2013.

2. The Consumer Protection Act 2007 (National Consumer Agency) Levy Regulations 2011 ( S.I. No. 560 of 2011 ) are hereby amended by-

(a) the substitution of the Schedule to these Regulations for Schedule A and Schedule B

(b) the insertion of the following after Regulation 4;

“5.Where a regulated entity has the financial services business of a current or previously regulated entity transferred to it, then the transferee regulated entity shall pay the levy which would otherwise have been payable by the transferor regulated entity.

The transferee regulated entity shall pay a levy calculated by reference to the business of the transferor entity in accordance with the method set out in the relevant category in the Schedule. Such a levy shall be in addition to the levy, if any, which the transferee entity would otherwise be required to pay had such a transfer of financial services business not taken place."

29 October 2013.

STEPHEN COSTELLO,

Chairperson.

National Consumer Agency

4/5 Harcourt Road

Dublin 2

SCHEDULE

Levy period: A 12-month period, commencing on 01 January 2013 and ending on 31 December 2013.

Category A

Credit Institutions

Each credit institution shall pay, in respect of its liability for the year ended 31 December 2013, a levy calculated at the rate of €0.1814 per retail customer as at 31 December 2012. A minimum levy of €500 is payable by each credit institution.

Category B

Insurance Undertakings

(a) Each life assurance undertaking shall pay, in respect of its liability for the year ended 31 December 2013, a levy calculated on the basis of 0.00348% of its total net premium income written on Irish risk business for the year ending 31 December 2011 as stated in the Central Bank of Ireland Insurance Statistics 2011. A minimum levy of €500 is payable by each life assurance undertaking.

(b) Each non-life...

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