Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

I move amendment No. 93:

Amendment No. 93 is a drafting amendment. Section 13 of the Central Bank and Credit Institutions (Resolution) Act 2011 makes it an offence to carry on the business of a credit institution without contributing to the credit institutions resolution fund established under that Act.

Section 14 states that this offence is a hybrid offence that can be tried summarily or on indictment. Currently, subsection 4 of section 14 states that proceedings of a summary offence under this section may be brought and prosecuted by the bank. The intention was to allow the bank to prosecute summarily all offences committed under this section. However, the reference to proceedings for a summary offence is misleading as the offence concerned is not a summary offence but a hybrid offence that can be prosecuted either summarily or on indictment. This amendment, therefore, seeks simply to clarify that the bank may institute summary proceedings in respect of the offence in question.

Amendment No. 96 is a drafting amendment similar to amendment No. 93. Subsection 3 of section 9 of the Financial Services (Deposit Guarantee Scheme) Act 2009 states that proceedings for a summary offence under the Act may be brought and prosecuted by the bank. The intention was to allow the bank to prosecute summarily an offence committed under the Act. However, the reference to proceedings for a summary offence is misleading, as I said earlier, and might prevent the bank from instituting a prosecution in respect of a hybrid offence that can be tried either summarily or on indictment. This amendment, therefore, seeks to clarify that the bank may institute summary proceedings in respect of an offence under the Act.

Amendment No. 98 relates to the European Communities (Information on the Payer Accommodating Transfer of Funds) Regulations of 2007 which allow the Central Bank to appoint authorised officers endowed with various stated powers for the purpose of enforcing compliance with the provisions of these regulations. Amendment No. 98 amends the said regulations to replace the authorised officer powers contained therein with the authorised officer powers contained in Part 3 of the Bill. Amendments Nos. 94, 95, 97, 99, 100 and 101 are simply drafting amendments.

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