The Central Bank of Ireland recently published updated FAQs on the fitness and probity regime providing clarification on the requirements relating to Pre-approval Controlled Functions who were in-situ on 1 December 2011 in the case of their re-election or re-appointment.

The amended FAQs are of particular relevance to regulated entities subject to the Corporate Governance Code for Credit Institutions and Insurance Undertakings as, for example, the Code requires the annual re-appointment of the Chairman.

Contributed by Gillian Young.