Regulatory

Reformed Regulation

Reorganisation In the wake of the financial crisis, the Central Bank Reform Act 2010 established the Central Bank of Ireland as a single regulator. It is led by the Governor of the Central Bank. The Irish Financial Services Regulatory Authority was dissolved and its functions were brought back under the umbrella of the Central Bank of Ireland.… Read the rest

Reform and Enforcement

Central Bank In the wake of the financial crisis, the Central Bank Reform Act 2010 established the Central Bank of Ireland as a single regulator. It is led by the Governor of the Central Bank. The Irish Financial Services Regulatory Authority was dissolved and its functions were brought back under the umbrella of the Central Bank of Ireland.… Read the rest

Property Services Regulation II

The PSRA The Property Services Regulatory Authority was established on a shadow basis in 2009. It followed concern regarding the shortcoming in regulation and supervisory arrangements. The pre-existing District court based licensing system was reformed by the creation of a Regulatory Authority in the style of the financial services regulator / Central Bank. … Read the rest

Property Services Regulation I

Regulatory Reforms 2011 legislation provided a comprehensive licensing system covering all property service providers (PSPs). It provided for a system of investigation and adjudication on complaints against PSPs, the audit and inspection of PSP operations, the maintenance of minimum qualification and standards.… Read the rest

Property Services (Older Regulation)

Auctioneers and House Agents (Previous Legislation) The regulation of auctioneers had been due for a radical overhaul for some considerable time. A shadow regulator was established in 2009. The former licence system provided that a person may practice as an auctioneer or house agent provided he holds a licence under the Auctioneer and House Agents Acts, 1947, 1967 and 1973 and the regulations made under them. … Read the rest

Postal Services

Postal Liberalisation A 1997 Directive on the application of competition rules to the postal service required the opening of the market to competition. Limited services can be reserved for the universal service provider. The first directive provides for common rules in relation to universal postal service reserved services to the universal service provider, tariff principles and transparency for accounts quality standards, harmonisation of technical standards and the creation of independent national regulators.… Read the rest

Pharmacists

Modern Pharmacy Regulation The Pharmacy Act, 2007 updated and regulated pharmacists and pharmacy businesses on a modern basis. The Pharmaceutical Society of Ireland was reincorporated. The Council of the Society was established. It is given certain key functions. … Read the rest

Minimum Competence

Minimum Competence Requirements The minimum competency requirements commenced in 2011. They provide for minimum professional standards for persons providing certain financial services, particularly those dealing with consumers. The requirements came into effect in December 2011 and apply to regulated firms and persons carrying out controlled functions within those firms who provide advice to consumers and retail financial products arrange or offered to arrange retail financial products for consumers undertake a specified function.… Read the rest

Lotteries

Lotteries Generally Unlawful It is an offence to promote or assist in the promotion of a lottery other than in the limited circumstances authorised by the Gaming and Lotteries Act. It is an offence to import, print, publish, distribute, sell, offer, expose for sale, invite to buy or have possession of any ticket, counterfoil or coupon for use in a lottery or any document containing information relating to a lottery.… Read the rest

Liquor Licensing

Major Licences The Circuit Court There has been a cap on the number of liquor licences that may be granted Most liquor licences may not be granted unless another is extinguished. Intoxicating Liquor licensing takes place through the Courts and Courts offices The Circuit Court sits permanently in Dublin and Cork. … Read the rest