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ARTICLE · 11 JANUARY 2016

Insurance Regulatory Update, December 2015

Arthur Cox
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These Regulations amend the Central Bank Reform Act 2010 (Sections 20 and 22) Regulations 2011 (S.I. No 437 of 2011) by replacing the list of Pre-Approval Controlled Functions in Schedule 2.

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Arthur Cox
Arthur Cox
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IN DOMESTIC NEWS...

CENTRAL BANK PUBLISHES THE CENTRAL BANK REFORM ACT 2010 (SECTIONS 20 AND 22) (AMENDMENT) REGULATIONS 2015 (S.I. NO. 545 OF 2015)

These Regulations amend the Central Bank Reform Act 2010 (Sections 20 and 22) Regulations 2011 (S.I. No 437 of 2011) by replacing the list of Pre-Approval Controlled Functions in Schedule 2. Under the Regulations, the roles of Chief Actuary and Signing Actuary have been removed from the list and a new PCF role of Head of Actuarial Function is introduced. The amendments take effect from 1 January 2016. The Central Bank has issued Guidance in relation to these recent amendments to the Fitness and Probity regime which is reported on below.

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