Home Knowledge Banking & Finance: Legislation Programme Autumn 2016

Banking & Finance: Legislation Programme Autumn 2016




Central Bank Consolidation Bill

To consolidate all of the collectively cited Central Bank Acts.

Work is underway

Financial Services and Pensions Ombudsman Bill

To amalgamate the Offices of the Pensions and Financial Services Ombudsman.

Pre-legislative scrutiny to be determined

Investment Limited Partnership (Amendment) Bill

To amend certain existing collective investment scheme legislation, the Investment Limited Partnership Act 1994 and the Limited Partnership Act 1907.

Work is underway

Asian Infrastructure Investment Bank Bill

To allow for Ireland’s potential membership of the Asian Infrastructure Investment Bank (AIIB).

Pre-legislative scrutiny to be determined

Criminal Justice (Money Laundering & Terrorist Financing) (Amendment) Bill

To give effect to the 4th EU Money Laundering Directive, which, amongst other things requires the disclosure of beneficial ownership of shares in Irish companies. This must be transposed into Irish law by June 2017.

Pre-legislative scrutiny as soon as possible

Mortgages Special Court Bill / Courts (Mortgage Arrears) Bill

To establish a dedicated new court to sensitively and expeditiously handle mortgage arrears and other personal insolvency cases, by imposing solutions on the parties including those recommended by the new Mortgage Arrears Resolution Service. The hearings of this court could be held in private if requested by the debtor.

Pre-legislative scrutiny expected November 2016

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016

To enable the State to enter into a loan facility agreement with the Single Resolution Board in order to provide it with bridge financing of up to €1.815bn. The Bill provides the Minister for Finance with the necessary powers to perform the State’s functions under the loan facility agreement. The Bill also makes some minor amendments to the Companies Act 2014 in consequence of the transposition of the EU Directive on criminal sanctions for market abuse.

Second Stage (Seanad)