Home Knowledge Banking & Finance: Legislation Programme Spring/Summer 2017

Banking & Finance: Legislation Programme Spring/Summer 2017




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 Financial Services Ombudsman and the Pensions Ombudsman and to amend, update and restate the existing legislation to form one office dealing with pensions and financial services complaints.

Pre-legislative scrutiny took place on 27 October 2016

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.

Heads of bill under preparation, pre-legislative scrutiny to be determined

Asian Infrastructure Investment Bank Bill

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

 Heads approved December 2015. 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 to be determined

Insurance (Amendment) Bill

To implement the Report of the Review of the Framework for Motor Insurance Compensation in Ireland.

Work is underway