Source: http://revisedacts.lawreform.ie/eli/2012/act/40/front/revised/en/html
Timestamp: 2019-10-19 23:10:08
Document Index: 454374816

Matched Legal Cases: ['art 3', 'art 3', 'art 3', 'art.\n44', 'art 4', 'art 4', 'art 4', 'art 4', 'art 5']

Number 40 of 2012
This Revised Act is an administrative consolidation of the Credit Union and Co-operation with Overseas Regulators Act 2012. 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 Markets in Financial Instruments Act 2018 (25/2018), enacted 29 October 2018, and all statutory instruments up to and including Credit Union Fund (Stabilisation) Levy Regulations 2018 (S.I. No. 441 of 2018), made 22 October 2018, were considered in the preparation of this Revised Act.
• Credit Union Fund (Stabilisation) Levy Regulations 2018 (S.I. No. 441 of 2018)
• Credit Union Fund (Stabilisation) Levy Regulations 2017 (S.I. No. 561 of 2017)
• Credit Union Fund (ReBo Levy) Regulations 2017 (S.I. No. 283 of 2017)
• Credit Union Fund (ReBo Levy) Regulations 2016 (S.I. No. 585 of 2016)
• Credit Union Fund (Stabilisation) Levy Regulations 2016 (S.I. No. 583 of 2016)
• Credit Union and Co-operation with Overseas Regulators Act 2012 (Commencement of Certain Provisions) Order 2015 (S.I. No. 584 of 2015)
• Credit Union Fund (ReBo Levy) Regulations 2015 (S.I. No. 557 of 2015)
• Credit Union Fund (Stabilisation) Levy Regulations 2015 (S.I. No. 530 of 2015)
• Credit Union Fund (ReBo Levy) Regulations 2014 (S.I. No. 581 of 2014)
• Credit Union Fund (Stabilisation) Levy Regulations 2014 (S.I. No. 533 o f 2014)
• Credit Union and Co-operation with Overseas Regulators Act 2012 (Commencement of Certain Provisions) Order 2014 (S.I. No. 99 of 2014)
• Credit Union and Co-operation with Overseas Regulators Act 2012 (Commencement of Certain Provisions) (No. 2) Order 2013 (S.I. No. 393 of 2013)
• Credit Union and Co-operation with Overseas Regulators Act 2012 (Commencement of Certain Provisions) Order 2013 (S.I. No. 280 of 2013)
• Credit Union Restructuring Board (Establishment Day) Order 2012 (S.I. No. 558 of 2012)
• Credit Union and Co-operation with Overseas Regulators Act 2012 (Commencement) Order 2012 (S.I. No. 557 of 2012)
All statutory instruments up to and including Credit Union Fund (Stabilisation) Levy Regulations 2018 (S.I. No. 441 of 2018), made 22 October 2018, were considered in the preparation of this revision.
4. Savers for regulatory actions of Bank.
Amendments to Credit Union Act 1997 and Consequential Amendments, etc.
6. Amendment of section 2 (Interpretation) of Principal Act.
7. Supplemental provisions relating to registration, etc., under section 6 of Principal Act.
9. Protection of members’ savings.
11. Lending.
14. Appeal against certain decisions of Bank.
15. Board of directors.
16. Operation of board of directors.
17. Functions of board of directors.
18. Chair of board of directors, etc.
19. Board committees.
20. Nomination committee.
21. Manager of credit union.
22. Credit officer and credit control officer.
23. Directors: suspension and removal by board oversight committee.
24. General governance requirements.
25. Conflicts of interest.
26. Additional requirements for credit unions.
27. Board oversight committee.
28. Special resolutions.
29. Power of Bank to make regulations.
30. Liquidity and stress testing, etc.
31. Bank’s power to require appointment of additional director of credit union.
32. Removal of auditor of credit union by Bank.
33. General regulations by Bank.
34. Certain enactments not to apply to credit unions, etc.
35. Miscellaneous and consequential amendments to Principal Act.
36. Consequential amendments of the Central Bank Act 1942.
37. Amendment of Schedule 2 to Central Bank Act 1942.
38. Revocation of statutory instruments.
Preliminary and restructuring generally
39. Interpretation ( Part 3).
40. Independence of Bank and its Governor not affected ( Part 3).
41. Minister to have regard to European Union law ( Part 3).
42. Establishment of Credit Union Restructuring Board.
43. Cessation of effect of this Part.
44. Restructuring functions of ReBo.
45. Restructuring of credit unions.
46. Guidelines and directions.
47. ReBo levy.
48. Collection of ReBo levy and amendment of section 61H of the Central Bank Act 1942.
49. Membership of Board of ReBo, etc.
50. Non-disclosure of information.
51. Reports to Minister.
52. Chief executive officer of ReBo.
53. Staff of ReBo.
55. Contracted service providers.
56. Disclosure of information.
Credit Union Fund and Credit Union Levy
57. Credit Union Fund.
58. Keeping and audit of accounts of Credit Union Fund, etc.
59. Credit union levy.
60. Arrangements for collection of credit union levies.
61. Interpretation ( Part 4).
62. Independence of Bank and its Governor not affected ( Part 4).
63. Minister and Bank to have regard to European Union law ( Part 4).
64. Funding for stabilisation support.
65. Provision of stabilisation support.
66. Stabilisation Committee.
67. Expenses of Bank under Part 4.
68. Amendments to Central Bank Act 1942.
69. Amendment to Central Bank Reform Act 2010.
70. Amendments, repeals, revocations, savings and transitional provisions ( Part 5).
1989, No. 18
Central Bank Acts 1942 to 2011
2010, No. 36
Credit Union Acts 1997 and 2001
AN ACT TO AMEND CERTAIN PROVISIONS OF THECREDIT UNION ACTS 1997 AND 2001, IN PARTICULAR, TO AMEND THE PRUDENTIAL REQUIREMENTS FOR CREDIT UNIONS, TO CHANGE THE GOVERNANCE REQUIREMENTS FOR CREDIT UNIONS BY REMOVING CERTAIN MANAGEMENT FUNCTIONS FROM BOARDS OF DIRECTORS OF CREDIT UNIONS AND PROVIDING FOR A SEPARATE MANAGEMENT STRUCTURE AND TO IMPROVE THE OVERSIGHT AND GENERAL POLICY FUNCTIONS OF SUCH BOARDS OF DIRECTORS; TO PROVIDE FOR THE RESTRUCTURING OF CREDIT UNIONS AND FOR STABILISATION SUPPORT TO CREDIT UNIONS, TO PROVIDE FOR A FUND TO BE KNOWN AS THE CREDIT UNION FUND FOR THE PURPOSES OF SUCH RESTRUCTURING AND STABILISATION AND TO PROVIDE FOR LEVIES IN RESPECT OF THAT FUND; TO PROVIDE FOR MISCELLANEOUS MATTERS RELATING TO CREDIT UNIONS; TO AMEND THE CENTRAL BANK ACTS 1942 TO 2011, TO PROVIDE FOR CO-OPERATION BETWEEN THE CENTRAL BANK OF IRELAND AND OVERSEAS REGULATORS AND TO PROVIDE FOR THE APPOINTMENT OF AUTHORISED OFFICERS BY THE CENTRAL BANK OF IRELAND; AND TO PROVIDE FOR MATTERS RELATED TO THE FOREGOING.
[19 th December, 2012]