Number 1 of 2015

Central Bank (Amendment) Act 2015

CONTENTS

Section

1. Amendment of section 33AK of Central Bank Act 1942

2. Short title

Acts Referred to

Central Bank Act 1942 (No. 22)

Central Bank Reform Act 2010 (No. 23)

Houses of the Oireachtas (Inquiries, Privileges and Procedures) Act 2013 (No. 33)

Number 1 of 2015

CENTRAL BANK (AMENDMENT) ACT 2015

An Act to enable a Joint Committee of the Houses of the Oireachtas that is conducting an inquiry (being an inquiry in respect of which a terms of reference resolution under section 13 of the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Act 2013 was passed by Dáil Éireann and Seanad Éireann on the 25th day and 26th day, respectively, of November, 2014) to have access to certain confidential banking information held by the Central Bank of Ireland and, for that purpose, to amend the Central Bank Act 1942, and to provide for related matters.

[4 th February, 2015]

Be it enacted by the Oireachtas as follows:

Amendment of section 33AK of Central Bank Act 1942

1. Section 33AK of the Central Bank Act 1942 is amended-

(a) in subsection (5), by inserting the following paragraph after paragraph (aha)(inserted by the Central Bank Reform Act 2010 ):

"(ahb) to a Joint Committee of the Houses of the Oireachtas that is conducting an inquiry, being an inquiry-

(i) that is a Part 2 inquiry (within the meaning of the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Act 2013 ), and

(ii) in respect of which a terms of reference resolution under section 13 of that Act was passed by Dáil Éireann and Seanad Éireann on the 25th day and 26th day, respectively, of November, 2014,

provided the disclosure to that Committee occurs after the making of the rules and standing orders referred to in subsection (6A),",

(b) in subsection (6), by inserting "and in the ESCB Statute" after "legal acts", and

(c) by inserting the following subsection after subsection (6):

"(6A) Any member of either House of the Oireachtas to whom confidential information is provided under subsection (5) and who fails to comply with the provisions of professional secrecy referred to in subsection (6) in respect of that information may be subject to the sanction of the House of which the person is a member in accordance with rules and standing orders made by that House.".

Short title

2. This Act may be cited as the Central Bank (Amendment) Act 2015.