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ARTICLE · 21 JANUARY 2016

Central Bank Regulations Regarding Lending To Small And Medium Sized Enterprises

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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The Central Bank of Ireland has recently issued the Central Bank Act 2013 Regulations 2015.

IrelandFinance and Banking
Keith Robinson
Keith Robinson
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Background

The Central Bank of Ireland (the "Central Bank") has recently issued the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium Sized Enterprises) Regulations 2015 (the "Regulations"). The purpose of the Regulations is to bolster the protections for small and medium sized enterprises ("SME"s) when borrowing from regulated financial service providers ("Regulated Lenders") which are providing credit to or entering into alternative arrangements (explained below) with SMEs. The Regulations become operational on 1 July 2016 for regulated entities other than Credit Unions for whom 1 July 2017 is the operative date.

Brief Overview

Part 1 of the Regulations contains preliminary and general provisions; Part 2 of the Regulations details provisions applicable to micro and small enterprises and Part 3 of the Regulations deals with medium sized enterprises. A micro and small enterprise is an enterprise which employs fewer

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