Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

This section does indeed refer to the issue of the suspension notices. The process is as follows. If necessary, the Central Bank may suspend a person from a controlled function or a prescribed controlled function role temporarily by way of a suspension notice while carrying out an investigation or related process. A suspension notice confirmed by the head of financial regulation is valid for up to three months initially. The Central Bank may apply to the High Court for an extension of a further three months. The total period of suspension is therefore approximately six months.

As for the role of the Irish Financial Services Appeals Tribunal, it is the body to which such a suspension notice would be appealed. It would be its role to consider this matter and to allow a hearing in respect of the issue of the notice. The appeal provisions brought forward here are required by the outcome of the Zalewski case.