S.I. No. 466/2024 - European Union (Insurance Distribution) (Amendment) Regulations 2024

1. (1) These Regulations may be cited as the European Union (Insurance Distribution) (Amendment) Regulations 2024.

(2) These Regulations shall come into operation on 9 October 2024.

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 €1,564,610 applying to each claim and in aggregate €2,315,610 per year for all claims” for “for not less than €1,300,380 applying to each claim and in aggregate €1,924,560 per year for all claims”.

GIVEN under my Official Seal,

13 September, 2024.

JACK CHAMBERS,

Minister for Finance.

1 OJ No. L 26, 2.2.2016, p. 19

2 OJ L, 2024/896, 20.3.2024

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

17

th September,

2024.

I, JACK CHAMBERS, Minister for Finance, in exercise of the powers conferred on me 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 of the European Parliament and of the Council of 20 January 2016

1

on insurance distribution as amended by Commission Delegated Regulation (EU) 2024/896 of 5 December 2023

2

, hereby make the following regulations