S.I. No. 360/2003 - Central Bank and Financial Services Authority of Ireland (Adaptation of References in S.I. No 168 of 2003) Regulations 2003 (2003_si_360) | IE

ISB SI

Reg. 1 S.I. No. 360/2003 - Central Bank and Financial Services Authority of Ireland (Adaptation of References in S.I. No 168 of 2003) Regulations 2003 Open official source

1. These Regulations may be cited as the Central Bank and Financial Services Authority of Ireland (Adaptation of References in

S.I. No 168 of 2003

) Regulations 2003.

ISB SI

Reg. 2 S.I. No. 360/2003 - Central Bank and Financial Services Authority of Ireland (Adaptation of References in S.I. No 168 of 2003) Regulations 2003 Open official source

2. “Principal Regulations” means the European Communities (Reorganisation and Winding-up of Insurance Undertakings) Regulations 2003 (

S.I. No. 168 of 2003

).

ISB SI

Reg. 3 S.I. No. 360/2003 - Central Bank and Financial Services Authority of Ireland (Adaptation of References in S.I. No 168 of 2003) Regulations 2003 Open official source

3. These Regulations are deemed to have come into operation on 1 May 2003.

ISB SI

Reg. 4 S.I. No. 360/2003 - Central Bank and Financial Services Authority of Ireland (Adaptation of References in S.I. No 168 of 2003) Regulations 2003 Open official source

4. Regulation 2 of the Principal Regulations is amended

(a) by deleting the definition of “Minister”, and

(b) by inserting the following after the definition of “administrator”

“ ‘Bank’ means the Central Bank and Financial Services Authority of Ireland,”.

ISB SI

Reg. 5 S.I. No. 360/2003 - Central Bank and Financial Services Authority of Ireland (Adaptation of References in S.I. No 168 of 2003) Regulations 2003 Open official source

5. The Principal Regulations are amended by substituting “Bank” for “Minister” in each place where it occurs.

GIVEN under my Official Seal,

this 18

th

day of August 2003.

BERTIE AHERN

Taoiseach

EXPLANATORY NOTE

(This note is not a legal part of the Instrument and does not purport to be a legal interpretation)

The Central Bank and Financial Services Authority of Ireland Act 2003

transferred responsibility for the implementation of insurance legislation from the Minister for Enterprise, Trade & Employment to the Irish Financial Services Regulatory Authority (a constituent part of the Central Bank and Financial Services Authority of Ireland). The purpose of these Regulations is to transfer from the Minister for Enterprise, Trade & Employment to the Authority responsibility for the implementation of the Regulations giving effect in Ireland to EU Directive 2001/17/EC, which deals with the reorganisation and winding up of insurance undertakings. These Regulations were made after the Act became law but before the relevant sections of the Act were commenced.

ISB SI

Preamble S.I. No. 360/2003 - Central Bank and Financial Services Authority of Ireland (Adaptation of References in S.I. No 168 of 2003) Regulations 2003 Open official source

I, BERTIE AHERN, Taoiseach, acting Minister for Finance, in exercise of the powers conferred on me by paragraph 31(1) of Schedule 3 to the

Central Bank and Financial Services Authority of Ireland Act 2003

(No. 12 of 2003) hereby make the following regulations

S.I. No. 360/2003 - Central Bank and Financial Services Authority of Ireland (Adaptation of References in S.I. No 168 of 2003) Regulations 2003

Table of Provisions (6)

Statutory Text (6 Articles)

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