European Union (Capital Requirements) (No. 2) Regulations 2014

• Jurisdiction: Ireland
• Citation: IR SI 159/2014
• Year: 2014

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 4th April, 2014.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving full effect to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 20131 , hereby make the following regulations:

Citation

1. These Regulations may be cited as the European Union (Capital Requirements) (No. 2) Regulations 2014.

Definitions

2. In these Regulations—

“Bank” means Central Bank of Ireland;

“Capital Requirements Regulation” means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/20121.

Designation of authority

3. The Bank is designated as the authority in charge of the application of Article 458 of the Capital Requirements Regulation.

Amendment of Central Bank Act 1942

4. The Central Bank Act 1942 (No. 22 of 1942) is amended by substituting for section 2(2A) (as amended by Regulation 63 of the European Union (Alternative Investment Fund Managers) Regulations 2013 ( S.I. No. 257 of 2013 )) the following:

“(2A) The following shall be taken to be designated enactments:

(a) Commission Regulation (EC) No 1287/2006 of 10 August 20062 ;

(b) Regulation (EC) No 924/2009 of the European Parliament and of the Council of 16 September 20093 ;

(c) Commission Delegated Regulation (EU) No 231/2013 of 19 December 20124 ;

(d) Commission Implementing Regulation (EU) No 447/2013 of 15 May 20135 ;

(e) Commission Implementing Regulation (EU) No 448/2013 of 15 May 20136 ;

(f) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 20137 .”.

Offence — false or misleading information

5. (1) A person who provides the Bank with false, misleading or inaccurate information, knowing it to be false, misleading or inaccurate, or where he or she ought reasonably to have known the information was false, misleading or inaccurate, on his or her own behalf, or on behalf of any other person or institution, in relation to any requirement of, or under, Articles 99, 100, 101 or 394 of the Capital Requirements Regulation commits an offence.

(2) A person who commits an offence under this Regulation is liable—

(a) on summary...