Kathleen Funchion (Carlow-Kilkenny, Sinn Fein)
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423. To ask the Minister for Finance if a company (details supplied) was in possession of a banking licence when operating in May 2015; and if he will make a statement on the matter. [18188/23]

Michael McGrath (Cork South Central, Fianna Fail)
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The Central Bank has advised me that Mars Capital Ireland no. 2 DAC was first authorised by the Central Bank on 14 April 2022. Mars Capital Ireland no. 2 DAC held a transitional authorisation as a credit servicing firm from 21 April 2019 until it was granted full authorisation on 14 April 2022.

It is worth noting that it may be the case that a firm held legal title to credit prior to holding its authorisation; holding legal title to credit only became a regulated activity with the introduction of the Consumer Protection (Regulation of Credit Servicing Firms) Act 2018, which came into effect on 21 January 2019.

Information on the current authorisation status of the firm is available on the Central Bank Register part of the Central Bank website.