(LRC Revised)

Number 13 of 2009

FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009

REVISED

Updated to 1 January 2019

Changes to legislation

as of 10 July 2026, this Act is up to date with all changes known to be in force.

This Revised Act is an administrative consolidation of the

Financial Services (Deposit Guarantee Scheme) Act 2009

. It is prepared by the Law Reform Commission in accordance with its function under

the

Law Reform Commission Act 1975

(3/1975) to keep the law under review and to undertake revision and consolidation

of statute law.

All Acts up to and including

Central Bank (National Claims Information Database) Act 2018

(42/2018), enacted 27 December 2018, and all statutory instruments up to and including

Criminal Justice (Suspended Sentences of Imprisonment) Act 2017 (Commencement) Order

2019

(S.I. No. 1 of 2019), made 3 January 2019, were considered in the preparation of

this Revised Act.

Disclaimer: While every care has been taken in the preparation of this Revised Act,

the Law Reform Commission can assume no responsibility for and give no guarantees,

undertakings or warranties concerning the accuracy, completeness or up to date nature

of the information provided and does not accept any liability whatsoever arising from

any errors or omissions. Please notify any errors, omissions and comments by email

to

revisedacts@lawreform.ie.

Number

13

of

2009

FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009

REVISED

Updated to 1 January 2019

ARRANGEMENT OF SECTIONS

Section

1. Definitions.

2. Amount of coverage in respect of eligible deposits.

3. Deposit protection account.

4. Amount to be maintained in deposit protection account.

5. Annual recalculation of amount of deposit.

5A. Order of Payments.

5B. Credit institutions wound up or ceased trading.

6. Charges, etc., on deposit protection account.

7. Aggregate payment to deposit protection account by credit unions.

8. Reimbursement from Central Fund of certain payments by Bank.

8A. Power of Bank to make regulations for information to be kept relating to eligible

deposits.

8B. Requirement to provide information to Bank.

8C. Direction to credit institution.

8D. Directions under section 8C: supplementary.

8E. Compensation events.

9. Offence and penalty.

10. Regulations.

11. Amendments to Central Bank Act 1942.

12. Short title and commencement.

SCHEDULE

Amendments to Central Bank Act 1942

Acts Referred to

Building Societies Act 1989

1989,No. 17

Central Bank Act 1942

1942,No. 22

Central Bank Act 1971

1971, No. 24

Central Bank and Financial Services Authority of Ireland Act 2003

2003,No. 12

Credit Union Act 1997

1997,No. 15

European Communities (Amendment) Act 1993

1993, No. 25

Markets in Financial Instruments and Miscellaneous Provisions Act 2007

2007,No. 37

Number

13

of

2009

FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009

REVISED

Updated to 1 January 2019

AN ACT TO PROVIDE FOR THE MAKING OF REGULATIONS REGARDING THE AMOUNT PAYABLE TO A

PERSON MAINTAINING ELIGIBLE DEPOSITS WITH A CREDIT INSTITUTION; TO PROVIDE FOR THE

MAINTENANCE OF THE DEPOSIT PROTECTION ACCOUNT BY THE CENTRAL BANK AND FINANCIAL SERVICES

AUTHORITY OF IRELAND; TO PROVIDE FOR THE MAINTENANCE BY CREDIT INSTITUTIONS OF DEPOSITS

IN THE DEPOSIT PROTECTION ACCOUNT; TO PROVIDE FOR THE AMOUNT OF THE DEPOSIT AND ITS

VARIATION; TO GIVE FURTHER EFFECT TO DIRECTIVE 94/19/EC OF THE EUROPEAN PARLIAMENT

AND OF THE COUNCIL OF 30 MAY 1994 ON DEPOSIT GUARANTEE SCHEMES; TO AMEND THE CENTRAL

BANK ACT 1942 AND TO PROVIDE FOR RELATED MATTERS.

[18

th June

, 2009]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS

Annotations

Editorial Notes

E1

Act included in list of designated enactments by

Central Bank Act 1942

(22/1942), s. 33C and sch. 2 part 1, as inserted (1.08.2013) by

Central Bank (Supervision and Enforcement) Act 2013

(26/2013), s. 5 and sch. 2 part 1 item 10(b), S.I. No. 287 of 2013.

Annotations

Editorial Notes

E1

Act included in list of designated enactments by

Central Bank Act 1942

(22/1942), s. 33C and sch. 2 part 1, as inserted (1.08.2013) by

Central Bank (Supervision and Enforcement) Act 2013

(26/2013), s. 5 and sch. 2 part 1 item 10(b), S.I. No. 287 of 2013.

ARRANGEMENT OF SECTIONS

Section

1. Definitions.

2. Amount of coverage in respect of eligible deposits.

3. Deposit protection account.

4. Amount to be maintained in deposit protection account.

5. Annual recalculation of amount of deposit.

5A. Order of Payments.

5B. Credit institutions wound up or ceased trading.

6. Charges, etc., on deposit protection account.

7. Aggregate payment to deposit protection account by credit unions.

8. Reimbursement from Central Fund of certain payments by Bank.

8A. Power of Bank to make regulations for information to be kept relating to eligible

deposits.

8B. Requirement to provide information to Bank.

8C. Direction to credit institution.

8D. Directions under section 8C: supplementary.

8E. Compensation events.

9. Offence and penalty.

10. Regulations.

11. Amendments to Central Bank Act 1942.

12. Short title and commencement.

SCHEDULE

Amendments to Central Bank Act 1942