Consumer Protection Act 2007 (Competition and Consumer Protection Commission) Levy Regulations 2019

JurisdictionIreland
CitationIR SI 509/2019

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 18th October, 2019.

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 Business, 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 2019.

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 October, 2019.

ISOLDE GOGGIN,

Chairperson.

Competition and Consumer Protection Commission,

Bloom House,

Railway Street,

Dublin 1.

SCHEDULE

Levy period: A 12-month period, commencing on 01 January 2019 and ending on 31 December 2019.

Category A

Credit Institutions

Each credit institution shall pay, in respect of its liability for the year ended 31 December 2019, a levy calculated at the rate of €0.17604 per retail customer as at 31 December 2018. 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 2019, a levy calculated on the basis of 0.00191% of its total net premium income written on Irish risk business for the year ending 31 December 2018. 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 2019, a levy calculated on the basis of 0.01473% of its total net premium income written on Irish risk business for the year ending 31 December 2018. A minimum levy of €500 is payable by each non-life insurance undertaking.

Categories D2, D3, D4

Investment Firms[regulated under the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. No. 375 of 2017)].

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

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