Michael Ahern (Cork East, Fianna Fail)

Section 9 is based on section 3 of the Unit Trust Act 1990. However, section 3 of that Act was amended by the Central Bank and Financial Services Authority of Ireland Act 2003, Part 14 of Schedule 1 and consequential amendments to other Acts. Amendment No. 2 is framed to reflect the changes made by the 2003 Act, which were not taken into account when the Bill was drafted. The import of the provision is self-explanatory.