S.I. No. 215/2020 - European Union (Insurance Distribution) (Amendment) Regulations 2020

1. (1) These Regulations may be cited as the European Union (Insurance Distribution) (Amendment) Regulations 2020.

(2) These Regulations come into operation on 12 June 2020.

2. The European Union (Insurance Distribution) Regulations 2018 (

S.I. No. 229 of 2018

) are amended, in Regulation 21(1), by the substitution of “ for not less than €1,300,380 applying to each claim and in aggregate €1,924,560 per year” for “ for not less than €1,250,000 applying to each claim and in aggregate €1,850,000 per year”.

GIVEN under the Official Seal of the Minister for Finance,

16 June, 2020.

PASCHAL DONOHOE,

Minister for Finance.

1 OJ No. L 26, 02.02.2016, p. 19

2 OJ No. L 301, 22.11.2019, p. 3

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

19

th June,

2020.

The Minister for Finance, in exercise of the powers conferred on him by

section 3

of the

European Communities Act 1972

(No. 27 of 1972) and for the purpose of giving further effect to Directive (EU) 2016/97

1

of the European Parliament and of the Council of 20 January 2016 on insurance distribution as amended by Commission Delegated Regulation (EU) 2019/1935

2

of 13 May 2019, hereby makes the following regulations