Consumer Protection Act 2007 (Competition and Consumer Protection Commission) Levy Regulations 2016.

JurisdictionIreland
CitationIR SI 479/2016

The Competition and Consumer Protection Commission (the ‘Commission’), in the exercise of its power to impose levies conferred on the Commission 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 (Competition and Consumer Protection Commission) Levy Regulations 2016.

2. The Consumer Protection Act 2007 (National Consumer Agency) Levy Regulations 2011 ( S.I. No. 560 of 2011 ) are hereby amended by the substitution of the Schedule to these Regulations for the Schedule in S.I. No. 560 of 2011 .

15 September 2016.

ISOLDE GOGGIN,

Chairperson.

Competition and Consumer Protection Commission,

14 Parnell Square,

Dublin 1.

SCHEDULE

Levy period: A 12-month period, commencing on 01 January 2016 and ending on 31 December 2016.

Category A

Credit Institutions

Each credit institution shall pay, in respect of its liability for the year ended 31 December 2016, a levy calculated at the rate of €0.17589 per retail customer as at 31 December 2015. 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 2016, a levy calculated on the basis of 0.002391% of its total net premium income written on Irish risk business for the year ending 31 December 2014 as stated in the Central Bank of Ireland Insurance Statistics 2014. A minimum levy of €500 is payable by each life assurance undertaking.

(b) Each non-life insurance undertaking (other than those designated as ‘captive’ insurers by the Central Bank of Ireland) shall pay, in respect of its liability for the year ended 31 December 2016, a levy calculated on the basis of 0.02325% of its total net premium income written on Irish risk business for the year ending 31 December 2014 as stated in the Central Bank of Ireland Insurance Statistics 2014. A minimum levy of €500 is payable by each non-life insurance undertaking.

Categories D2, D3, D4

Investment Firms [regulated under the European Communities (Markets in Financial Instruments) Regulations 2007]

Included are entities engaged in the receipt and transmission of orders, and/or provision of investment advice; entities engaged in...

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