Travel Agents (Licensing) (Amendment) Regulations, 2012.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: These Regulations may be cited as the Travel Agents (Licensing) (Amendment) Regulations, 2012.
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paragraphs: These Regulations shall come into operation on 1 March 2012.
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paragraphs: The Travel Agents (Licensing) (Amendment) Regulations 2010 ( S.I. No. 659 of 2010 ) are hereby revoked.
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paragraphs: In these Regulations, “Principal Regulations” means the Travel Agents (Licensing) Regulations, 1993, ( S.I. No. 183 of 1993 ),
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paragraphs: The following Regulation is substituted for Regulation 7 of the Principal Regulations:
“7.(a) An application for a travel agents licence shall be accompanied by the applicants latest accounts, duly audited and certified, covering a 12 month accounting period ending on a date not earlier than 12 months before the date of application.
(b) Notwithstanding paragraph (a) of this Regulation the Commission may require an applicant to furnish to the Commission the applicant’s audited financial statements by a specified date following the end of the applicants 12 month accounting period as stipulated by the Commission.
(c) An applicant may apply for an exemption from the requirement to provide audited accounts as set out in paragraph (a) above, if the applicant provides the Commission, at the same time as or prior to, its application for a travel agent’s licence, with evidence acceptable to the Commission that the applicant is entitled to avail of the exemption provided for by Part III of the 1999 Act and the applicant satisfies the conditions specified in section 32 of the 1999 Act and the shareholders of the applicant have not served a notice on the company under section 33(1) in accordance with section 33(2) of the 1999 Act, or, the applicant is a sole trader or partnership.
(d) the Commission shall refuse an exemption under paragraph 7(c) of this Regulation to an applicant if the Commission requires audited accounts in order to satisfy itself as to any of the matters specified in section 6(3) of the Act.”
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paragraphs: The following Regulation is substituted for Regulation 16 of the Principal Regulations:
“16.A licensee shall maintain the following books, accounts and records in his principal place of business or in such other place as may be approved of by the Commission:—
(a) annual accounts duly audited and certified, or accounts exempted from audit, in accordance with Regulation 7 of these Regulations,
(b) a record, which may be in ledger, computer or other form, of all daily receipts and expenditures, duly analysed by the different methods of receipt and payment (cash, cheque, debit card, credit card, electronic funds transfer, voucher or any other type of payment), including all monies paid on deposit,
(c) a full record of all bank lodgements and other transactions including cash and credit transactions from which regular financial information can be derived to ascertain the financial position of the business from time to time, and a regular and proper bank reconciliation, and
(d) copies of all contracts entered by the licensee relevant to the business of the licensee and valid for the period of the licence,
and shall furnish copies or extracts on request by a person authorised by the Commission under section 11 of the Act.”
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paragraphs: The following Schedule is substituted for the Second Schedule of the Principal Regulations: