Investment intermediaries act, 1995
Enactment Date | 04 July 1995 |
Act Number | 11 |
| ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
Number 11 of 1995 | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
INVESTMENT INTERMEDIARIES ACT, 1995 | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
ARRANGEMENT OF SECTIONS | ||||||||||||||||||||||||||||||||||||||
PART I | ||||||||||||||||||||||||||||||||||||||
Preliminary and General | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
PART II | ||||||||||||||||||||||||||||||||||||||
Authorisation | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
PART III | ||||||||||||||||||||||||||||||||||||||
Regulation and Supervision of Investment Business Firms | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
PART IV | ||||||||||||||||||||||||||||||||||||||
Investment Product Intermediaries | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
PART V | ||||||||||||||||||||||||||||||||||||||
Auditors | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
PART VI | ||||||||||||||||||||||||||||||||||||||
Probity, Codes of Conduct and Miscellaneous Provisions | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
PART VII | ||||||||||||||||||||||||||||||||||||||
Approved Professional Bodies | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
PART VIII | ||||||||||||||||||||||||||||||||||||||
Enforcement, Offences and Penalties | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
PART IX | ||||||||||||||||||||||||||||||||||||||
Amendment of Companies Act, 1990 | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
FIRST SCHEDULE | ||||||||||||||||||||||||||||||||||||||
SECOND SCHEDULE | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
Number 11 of 1995 | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
INVESTMENT INTERMEDIARIES ACT, 1995 | ||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
AN ACT TO MAKE PROVISION IN RELATION TO INVESTMENT BUSINESS FIRMS AND INVESTMENT PRODUCT INTERMEDIARIES AND FOR THE AUTHORISATION AND SUPERVISION OF INVESTMENT BUSINESS FIRMS AND INVESTMENT PRODUCT INTERMEDIARIES BY THE CENTRAL BANK OF IRELAND AND THE MINISTER FOR ENTERPRISE AND EMPLOYMENT AND TO AMEND THE COMPANIES ACT, 1990, AND TO PROVIDE FOR RELATED MATTERS. [4th July, 1995] | ||||||||||||||||||||||||||||||||||||||
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: | ||||||||||||||||||||||||||||||||||||||
PART I Preliminary and General | ||||||||||||||||||||||||||||||||||||||
Short title and commencement. |
1.—(1) This Act may be cited as the Investment Intermediaries Act, 1995. |
|||||||||||||||||||||||||||||||||||||
(2) This Act shall come into operation on such day or days as may be appointed by order or orders made by the Minister, either generally or with reference to any particular purpose or provision, and different days may be so appointed for different purposes and different provisions of this Act. |
||||||||||||||||||||||||||||||||||||||
Interpretation. |
2.—(1) In this Act, unless the context otherwise requires— |
|||||||||||||||||||||||||||||||||||||
“approved professional body” has the meaning assigned to it by section 55 of this Act; |
||||||||||||||||||||||||||||||||||||||
“associated undertaking” means an associated undertaking within the meaning of Regulation 34 of the European Communities (Companies: Group Accounts) Regulations, 1992 (S.I. 201 of 1992); |
||||||||||||||||||||||||||||||||||||||
“authorised investment business firm” means an investment business firm which has been authorised by a supervisory authority under section 10 or 13 of this Act or which is deemed to be authorised under Part IV or Part VII of this Act; |
||||||||||||||||||||||||||||||||||||||
“authorisation” means an authorisation granted under section 10 or 13 of this Act, or an authorisation under Part IV or Part VII , unless otherwise specified; |
||||||||||||||||||||||||||||||||||||||
“authorised officer” means a person authorised under section 64 of this Act; |
||||||||||||||||||||||||||||||||||||||
“the Bank” means the Central Bank of Ireland; |
||||||||||||||||||||||||||||||||||||||
“certified person” has the meaning assigned to it by section 55 of this Act; |
||||||||||||||||||||||||||||||||||||||
“the Commission” means the Commission of the European Communities; |
||||||||||||||||||||||||||||||||||||||
“Companies Acts” means the Companies Acts, 1963 to 1990; |
||||||||||||||||||||||||||||||||||||||
“competent authority” means a competent authority in a Member State, for the purposes of Council Directive 77/780/EEC of 12 December, 1977(1) , as amended by Council Directive 89/646/EEC of 15 December, 1989(2) , or for the purposes of Council Directive No. 93/6/EEC of 15 March, 1993(3) , or for the purposes of Council Directive No. 93/22/EEC of 10 May, 1993(3); |
||||||||||||||||||||||||||||||||||||||
“the Court” means the High Court; |
||||||||||||||||||||||||||||||||||||||
“credit institution” means a credit institution within the meaning of Article 1 of Council Directive 77/780/EEC of 12 December, 1977(1) as amended by Council Directive 89/646/EEC of 15 December, 1989(2) but does not include the institutions referred to in Article 2(2) of that Directive; |
||||||||||||||||||||||||||||||||||||||
“deposit” means a deposit with a credit institution and shall be construed as including a shareholding in as well as a deposit with a building society; |
||||||||||||||||||||||||||||||||||||||
“deposit agent” means any person who holds an appointment in writing from a single credit institution enabling him to receive deposits on behalf of that institution and prohibiting him from acting in a similar capacity on behalf of another credit institution; |
||||||||||||||||||||||||||||||||||||||
“deposit broker” means any person who brings together with credit institutions persons seeking to make deposits in return for a fee, commission or other reward; |
||||||||||||||||||||||||||||||||||||||
“director” includes any person occupying the position of director by whatever name called and any person who effectively directs or has a material influence over the business of an authorised investment business firm and includes a shadow director within the meaning of the Companies Act, 1990 ; |
||||||||||||||||||||||||||||||||||||||
“former authorised investment business firm” means an authorised investment business firm whose authorisation has been revoked; |
||||||||||||||||||||||||||||||||||||||
“functions” includes powers and duties; |
||||||||||||||||||||||||||||||||||||||
“home Member State” means— |
||||||||||||||||||||||||||||||||||||||
(a) where the investment business firm or proposed investment business firm is a natural person, the Member State in which the head office of that person is situated, or |
||||||||||||||||||||||||||||||||||||||
(b) where the investment business firm or proposed investment business firm is a legal person, the Member State in which its registered office is situated or, if under its national law it has no registered office, the Member State in which its head office is situated; |
||||||||||||||||||||||||||||||||||||||
“host Member State” means the Member State in which an investment business firm has a branch or provides services; |
||||||||||||||||||||||||||||||||||||||
“incidental manner” has the meaning assigned to it by section 55 of this Act; |
||||||||||||||||||||||||||||||||||||||
“indirect acquisition” shall be construed in accordance with Council Directive 93/22/EEC of 10 May, 1993(1) ; |
||||||||||||||||||||||||||||||||||||||
“indirect disposal” shall be construed in accordance with Council Directive 93/22/EEC of 10 May, 1993(1) ; |
||||||||||||||||||||||||||||||||||||||
“indirect shareholders” shall be construed in accordance with Council Directive 93/22/EEC of 10 May, 1993(1) ; |
||||||||||||||||||||||||||||||||||||||
“indirect subsidiary” shall be construed in accordance with Council Directive 93/22/EEC of 10 May, 1993(1) ; |
||||||||||||||||||||||||||||||||||||||
“investment advice” means the giving, or... |
To continue reading
Request your trial