Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I move amendment No. 38:

In page 74, lines 23 and 24, to delete “send by ordinary post a registered letter stating that” and substitute “give notice to the ICAV that”.

It is proposed to amend section 122 to remove the requirement that notice by the bank to an ICAV be delivered by registered post. Section 136 already sets out the general policy that the bank should be able to give notice by electronic means, and this change is consistent with the policy. In the interests of efficiency, the Central Bank already employs electronic means to communicate with funds and fund service providers and in a sophisticated industry this approach is very sensible.