Michael Ahern (Cork East, Fianna Fail)

Given the new functions assigned to the Central Bank and IFSRA, under Parts 3 and 4 in particular, the bank sought equivalent provisions to those already afforded to the ODCE, CRO, officers of the Minister and inspectors, to facilitate the discharge of its functions under company law. The powers in question of the existing bodies are set out in section 110 A of the Company Law Enforcement Act 2001, inserted by section 52 of the auditing and accounting Act 2003 and relate to the certification of certain matters pertaining to documents and related issues. It is intended that IFSRA will be the competent authority for market abuse and prospectus and this amendment gives IFSRA equivalent powers.