| |
Notice of the making of this Statutory Instrument was published in
|
| |
“Iris Oifigiúil” of 7th October, 2016.
|
| |
In exercise of the powers conferred on it by section 32D of the
Central Bank Act 1942
(as inserted by the
Central Bank Reform Act 2010
) the Central Bank Commission hereby makes the following regulations which are effective with the approval of the Minister for Finance:
|
| |
1. These Regulations may be cited as the Central Bank Act 1942 (Section 32D) Regulations 2016.
|
| |
2. In these Regulations:
|
| |
“the Principal Act” is the
Central Bank Act 1942
;
|
| |
“The Client Asset Requirements” are requirements imposed on investment business firms and investment firms pursuant to
Section 52
of the
Investment Intermediaries Act 1995
, Regulation 79 of the European Communities (Markets in Financial Instruments) Regulations 2007 or client asset regulations imposed on regulated financial service providers pursuant to regulations issued under
Section 48
of the
Central Bank (Supervision and Enforcement) Act 2013
;
|
| |
“due date” is
|
| |
(a) the day that falls 28 days after the date of issue of the levy notice, as specified on such levy notice, or
|
| |
(b) the date referred to in Regulation 10, or
|
| |
(c) a date otherwise referred to in these Regulations as being a due date for payment of a levy contribution and/or a supplementary levy contribution or part thereof;
|
| |
“levy contribution” is the amount determined as being due and owing which is calculated in accordance with the Schedule hereto;
|
| |
“supplementary levy contribution” is any supplementary levy determined as being due and owing, in addition to the levy contribution, in accordance with the Schedule hereto;
|
| |
“levy notice” means each notice specifying a levy contribution and/or supplementary levy contribution sent by the Bank to a regulated entity in accordance with these Regulations;
|
| |
“levy period” means the period prescribed in the Schedule hereto in respect of which regulated entities are obliged to pay a levy contribution and, where applicable, a supplementary levy contribution;
|
| |
“subsequent levy period” means the period from 1 January 2017 to 31 December 2017 inclusive;
|
| |
“regulated entities” means persons who are subject to regulation under the designated enactments and designated statutory instruments (including financial service providers whose business is subject to regulation by an Authority that performs functions in an EEA country that are comparable to the functions performed by the Bank under a designated enactment or designated statutory instrument) and also includes former regulated entities who were regulated for part of the levy period and “regulated entity” shall be construed accordingly;
|
| |
“impact category” has the meaning attributed to it in the Schedule hereto;
|
| |
“impact score” has the meaning attributed to it in the Schedule hereto;
|
| |
“associated company” in relation to a company or undertaking that comes within Category B1, B2, B3, B4, B5, B6 or B7 of the Schedule hereto (a “Category B Undertaking”), means a regulated financial service provider that is also a Category B Undertaking and is:
|
| |
(a) a subsidiary company of a Category B Undertaking, or
|
| |
(b) a company that is a subsidiary of a holding company, if a Category B Undertaking is also a subsidiary of such holding company, but neither the company or the Category B Undertaking is a subsidiary of the other, or
|
| |
(c) if the holding company as described in (b) above is itself a subsidiary, any other subsidiary of its ultimate holding company.
|
| |
3. (a) Subject to (b) and to Regulations 4 and 5, all persons who are, or have been, regulated entities during the levy period, shall, on or before the due date, pay the levy contribution, and supplementary levy contribution (if applicable), to the Bank.
|
| |
(b) Where a regulated entity has been subject to regulation by the Bank for part of the levy period only, then:
|
| |
(i) the levy contribution shall be calculated by reference to the number of days of the levy period during which the entity was regulated; and
|
| |
(ii) any supplementary levy contribution shall be applied on the basis set out in the Schedule.
|
| |
4. Where a regulated entity ceases to be subject to regulation during the subsequent Levy period and, other than this Regulation 4, Regulations have not been made under Section 32D of the Principal Act in respect of the subsequent levy period, then the Schedule shall apply with respect to that entity and the Bank shall issue a levy notice to such entity and:
|
| |
(i) the levy contribution shall be calculated by reference to the number of days of the subsequent levy period such entity was regulated; and
|
| |
(ii) any supplementary levy contribution shall be applied on the basis set out in the Schedule.
|
| |
5. Where a regulated entity becomes subject to regulation by the Bank during the levy period, it shall be required to pay a levy contribution. In such circumstances, the Bank shall issue a levy notice to such entity and the levy contribution shall be calculated by reference to the number of days remaining in the levy period from the date on which such entity becomes subject to regulation by the Bank.
|
| |
6. The Bank shall determine the appropriate category or categories in the Schedule that shall apply to a regulated entity.
|
| |
7. Where in the reasonable opinion of the Bank the obligation of a regulated entity to pay a levy contribution or part thereof, or a supplementary levy contribution or part thereof would be likely to make that regulated entity insolvent, or, where the regulated entity is a sole trader, bankrupt, the Bank may waive the obligation of that regulated entity under these Regulations to pay a levy contribution or part thereof or a supplementary levy contribution or part thereof. The Bank may waive, reduce, or remit a levy contribution or part thereof, or a supplementary levy contribution or part thereof, in exceptional circumstances at the Bank’s discretion.
|
| |
8. A regulated entity is required to pay the levy contribution prescribed in the Schedule hereto whether or not a levy notice has been issued by the Bank under Regulation 9.
|
| |
9. Subject to Regulation 11, the Bank may send to a regulated entity a levy notice specifying:
|
| |
(a) the levy contribution assessed by the Bank to be payable by that regulated entity for the levy period, and
|
| |
(b) the due date for payment of the levy contribution.
|
| |
10. If no levy notice is received by a regulated entity setting out the levy contribution for such entity by 22nd November 2016 then the 20th December 2016 shall be the due date for the payment of the levy contribution by such regulated entity in accordance with these Regulations.
|
| |
11. Without prejudice to whether a levy notice issues setting out a levy contribution, where a supplementary levy contribution applies, a levy notice specifying the supplementary levy contribution will issue to a regulated entity.
|
| |
12. The levy contribution, supplementary levy contribution (if applicable) and any interest accrued in accordance with Regulation 14 shall be paid by a regulated entity by cheque, direct bank transfer or equivalent electronic transfer of funds to a bank account specified by the Bank, or as is otherwise specified by the Bank.
|
| |
13. (a) A regulated entity or former regulated entity may, no later than 21 days following a due date, submit an appeal under this Regulation in respect of the levy contribution and/or supplementary levy contribution payable by such entity.
|
| |
(b) An appeal must set out in writing the grounds of the appeal and should include, in particular, all supporting documentation or representations.
|
| |
(c) Payment or a receipt evidencing payment of that portion of the levy contribution or supplementary levy contribution that is not under appeal must be submitted with an appeal under this Regulation.
|
| |
(d) The Bank shall advise the regulated entity or former regulated entity concerned in writing of its determination of the appeal and details of any amount outstanding in respect of the disputed amount of levy contribution and/or supplementary levy contribution and the due date applicable for the payment of any outstanding levy contribution and/or supplementary levy contribution.
|
| |
14. Without prejudice to any other remedy available to the Bank, where a required levy contribution or supplementary levy contribution has not been received by the due date, interest shall accrue thereon in accordance with the provisions of the European Communities (Late Payment in Commercial Transactions) Regulations 2012 (S.I.580 of 2012) or any amending or replacing legislation.
|
| |
15. Every sum payable by a regulated entity under these Regulations, including interest, for or on account of the Bank shall be recoverable by the Bank from that person as a simple contract debt in a court of competent jurisdiction.
|
| |
16. (a) Each regulated entity shall keep full and true records of all transactions which affect their liability under these Regulations and any related returns made;
|
| |
(b) A record kept by a person pursuant to paragraph (a) and, in the case of any such record that has been given by the person to another person, any copy thereof that is in the power or control of the first mentioned person shall be retained by that person for a period of 6 years from the date of the last transaction to which the record relates, provided that this Regulation shall not apply to records of a company that have been disposed of in accordance with section 305(1) of the
Companies Act 1963
or
section 707
of the
Companies Act 2014
;
|
| |
(c) No person shall, in purported compliance with a provision of these Regulations, provide an answer or explanation, make a statement or produce or deliver any return, certificate, balance sheet or other document which is false in a material particular;
|
| |
(d) A regulated entity that fails to comply with a provision of these Regulations or any applicable regulatory reporting requirements thereby preventing a full and proper assessment of their liability under these Regulations, may be assessed by the Bank in accordance with Category L of the Schedule hereto to determine a levy contribution, or may be otherwise assessed in a manner determined by the Bank, and the Bank may issue a levy notice to such a regulated entity, or former regulated entity, without prejudice to other actions which might be determined necessary or appropriate by the Bank in such circumstances.
|
| |
17. The Bank may exercise any of the powers and perform any of the functions and duties imposed on the Bank by these Regulations through or by any of the officers or employees of the Bank.
|
| |
18. These Regulations take effect on 4th October 2016.
|
| |
|
| |
Signed for and on behalf of the CENTRAL BANK COMMISSION,
|
| |
4 October 2016.
|
| |
CYRIL ROUX,
|
| |
Deputy Governor (Financial Regulation).
|
| |
|
| |
|
| |
|
| |
SCHEDULE
|
| |
Levy Period: 1 January 2016 to 31 December 2016
|
| |
CATEGORY A
|
| |
Credit Institutions
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
A1a — Irish Authorised Credit Institutions which were admitted to
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
€9,979,995
|
€4,528,422
|
n/a
|
n/a
|
n/a
|
|
|
the Eligible Liabilities Guarantee Scheme 2009 (“the ELG Scheme Institutions”) and their subsidiaries, if any, that are credit institutions authorised under Irish legislationCredit Institution GroupFor the purposes of the calculation of a levy contribution for this Category A1a, a Credit Institution Group shall be defined as:An ELG Scheme Institution together with each of its subsidiaries that are credit institutions authorised under Irish legislation
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
Subject to the following wording which shall apply to each member of a Credit Institution Group, each credit institution within category A1a shall be liable to pay the levy contribution corresponding to its impact category.
However, where a credit institution is a member of a Credit Institution Group, the Credit Institution Group shall transfer the levy amount applicable to the Ultra High Category to the Central Bank on behalf of all its constituent members, with the proportion of the Credit Institution Group Levy for which an individual constituent member is liable being calculated according to the following formula:
A = B/C * D
Where:
A = proportion of the Credit Institution Group Levy for which the individual constituent member is liable; and
B = levy amount which the individual constituent member would be obliged to pay if it were not being assessed as part of a Credit Institution Group; and
C = total sum of B for all individual constituent members of the Credit Institution Group; and
D = Credit Institution Group Levy (i.e. the Ultra High impact category levy).
For example, in the case of a notional Credit Institution Group with three constituent members, each one of which falls within the ‘High’ impact category, the total levy payable by the Credit Institution Group will be €9,979,995 (the ‘Ultra High’ impact category levy) and each individual constituent member’s proportion of this levy liability is:
€4,528,422 / (€4,528,422*3) * €9,979,995 = €3,326,665
|
|
|
|
|
|
|
|
|
|
|
|
A1b — Any Irish Authorised Credit Institutions not
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
€1,925,477
|
€440,261
|
€87,522
|
n/a
|
|
|
included in category A1a
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
A2 — Credit Institutions authorised in another EEA state
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
n/a
|
n/a
|
€21,020
|
|
operating in Ireland on a branch basis
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
Each credit institution within categories A2 and A3 is obliged to remit the levy applicable to the “Low” impact category to the Central Bank.
|
|
A3 — Credit Institutions authorised in another EEA state operating in Ireland on a cross border basis
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
A5 — Relevant Credit Institutions authorised pursuant to section 9A of the
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
€440,261
|
n/a
|
n/a
|
|
Central Bank Act 1971
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| |
CATEGORY B
|
| |
Insurance Undertakings
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
B1 — Life Companies with Irish Head Office and Life Insurance
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
€802,375
|
€183,463
|
€36,472
|
€8,003
|
|
|
Undertakings authorised in another non-EEA state operating in IrelandB4 — Non-Life Companies with Irish Head OfficeB7 — Reinsurance Undertakings with Irish Head Office
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
B2 — Life Insurance Undertakings authorised in
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
n/a
|
n/a
|
€6,002
|
|
|
another EEA state operating in Ireland on a branch basis
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
Each insurance undertaking within categories B2, B3, B5 and B6 is obliged to remit the levy applicable to the “Low” impact category to the Central Bank
|
|
B3 — Life Insurance Undertakings authorised in another EEA state operating in Ireland on a cross border basis
B5 — Non-Life Insurance Undertakings authorised in another EEA state operating in Ireland on a branch basis
B6 — Non-Life Insurance Undertakings authorised in another EEA state operating in Ireland on a cross border basis
|
|
| |
Insurance Undertakings Groups
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
Insurance Undertaking Group
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
For the purposes
|
|
Levy
|
€1,768,321
|
€802,375
|
€183,463
|
€36,472
|
€8,003
|
|
|
of the calculation of a levy contribution an Insurance Undertaking Group shall be defined as:A group of entities comprised of an entity that comes within categories B1, B2, B3, B4, B5, B6 or B7 and either
(a) has one or more associated companies that comes within catergories B1, B2, B3, B4, B5, B6 or B7;or
(b) is a subsidiary of an insurance holding company, a third-country insurance undertaking or a third country reinsurance undertaking, a mixed financial holding company or a mixed activity insurance holding company (as defined in the European Union (Insurance and Reinsurance) Regulations 2015)
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
An Insurance Undertaking within category B shall be liable to pay the levy contribution corresponding to its impact category. However, where an Insurance Undertaking is a member of an Insurance Undertaking Group, and where the Central Bank has objectively determined by reference to PRISM and the resources the Central Bank expends on supervising the members of such an Insurance Undertaking Group, that it is necessary that such Insurance Undertaking Group shall pay the levy amount applicable to the Ultra High impact category or the High Impact Category (and where the Central Bank has notified each member of such Insurance Undertaking Group of this determination in writing), the Insurance Undertaking Group shall transfer the levy amount applicable to the Ultra High impact category or the High Impact Category to the Central Bank on behalf of all its constituent members with the proportion of the Insurance Undertaking Group Levy for which an individual constituent member is liable being calculated according to the following formula:
A = B/C * D
Where:
A = proportion of the Insurance Undertaking Group Levy for which the individual constituent member is liable; and
B = levy amount which the individual constituent member would be obliged to pay if it were not being assessed as part of an Insurance Undertaking Group; and
C = total sum of B for all individual constituent members of the Insurance Undertaking Group; and
D = Insurance Undertaking Group Levy.
For example, in the case of a notional Insurance Undertaking Group with three constituent members, each one of which fall within the ‘High’ impact category, the total levy payable by an Ultra High Insurance Undertaking Group will be €1,768,321 (the ‘Ultra High’ impact category levy) and each individual constituent member’s proportion of this levy liability is:
€802,375 / (€802,375*3) * €1,768,321 = €589,440
Where an Insurance Undertaking is a member of an Insurance Undertaking Group, but does not receive written notification from the Central Bank that such Insurance Undertaking Group shall transfer the levy amount applicable to the Ultra high impact category or the High impact category to the Central Bank on behalf of all its constituent members, such Insurance Undertaking shall be liable to pay the levy contribution corresponding to its impact category.
|
|
|
|
|
| |
CATEGORY C
|
| |
Intermediaries and Debt Management Firms.
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
C — Intermediaries (including Investment Product Intermediaries and Mortgage Intermediaries who hold authorisations under the
Consumer Credit Act 1995
); Insurance/Reinsurance Intermediaries registered under the EC (Insurance Mediation) Regulations 2005;Debt Management Firms authorised under the
Central Bank Act, 1997
|
The amount of the levy will be calculated as follows:
Minimum Levy: €700 plusVariable Levy calculated as follows:
(A — B) * C
Where:
A = total of firm’s ‘Income from Fees’ and ‘Income from Commissions’ as reported in the firm’s latest On-Line Return to the Bank;
B = threshold level of total ‘Income from Fees’ and ‘Income from Commissions’ of €300,000; and
C = Variable Levy Rate of 0.15%.
|
|
| |
CATEGORY D
|
| |
Investment Firms
|
| |
(other than Investment Product Intermediaries)
|
| |
(Firms regulated under the provisions of either the
Investment Intermediaries Act, 1995
or the European Communities (Markets in Financial Instruments) Regulations 2007)
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
D1 — Designated Fund Managers
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
€258,809
|
€51,450
|
€6,606
|
|
|
D2 — Receipt and Transmission of Orders and/or Provision of Investment Advice
D3 — Portfolio Management; Execution of Orders D4 — Own Account Trading; Underwriting on a Firm Commitment Basis
D6 — Firms authorised under the
Investment Intermediaries Act 1995
that are not captured in any other levy category for the purposes of these Regulations
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
|
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
D5 — Member Firms of the Irish Stock Exchange which have been
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
€258,809
|
€51,450
|
€6,606
|
|
|
authorised as an Investment Firm
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
under Regulation 11(1) or deemed authorised under Regulation 6(2) of the European Communities (Markets in Financial Instruments) Regulations 2007
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
D9 — High Volume
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
Algorithmic Trading Firms
|
|
Levy
|
n/a
|
n/a
|
€258,809
|
€51,450
|
€6,606
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
D10 — Market Infrastructure
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
Firms
|
|
Levy
|
n/a
|
n/a
|
€258,809
|
€51,450
|
€6,606
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
D1-D10 — As above
|
The supplementary levy contribution is a separate levy which shall be paid in addition to the levy contribution.
Supplementary Levy Contribution
For the purposes of providing the Central Bank with sufficient funds to enable it to continue to perform its functions under the Client Asset Requirements, institutions which are subject to the Client Asset Requirements in the categories D1 — D10 shall pay a supplementary levy to the Bank.
Such supplementary levy will be payable in accordance with the table set out below.
|
|
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
|
Levy
|
n/a
|
n/a
|
€61,875
|
€12,300
|
€1,579
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
D1-D10 — Investment firms within the meaning of Regulation 3 of the European Union (Bank Recovery and Resolution) Regulations 2015
|
The supplementary levy contribution is a separate levy which shall be paid in addition to the levy contribution.
Supplementary Levy Contribution
Pursuant to Regulation 5 of the European Union (Bank Recovery and Resolution) Regulations 2015, and for the purposes of providing the Central Bank with sufficient funds to enable the Central Bank to perform its functions as resolution authority under the European Union (Bank Recovery and Resolution) Regulations 2015, all of the investment firms in this category shall be liable to pay a supplementary levy to the Central Bank.Such supplementary levy will be payable in accordance with the table set out below.
|
|
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
|
Levy
|
n/a
|
n/a
|
€25,099
|
€4,990
|
n/a
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| |
CATEGORY E
|
| |
Investment Funds, Alternative Investment Fund Managers
|
| |
and other Investment Fund Service Providers
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
E1a — Authorised UCITS; Authorised Unit Trusts; Authorised Investment
|
|
Fund Type
|
Levy per Fund
|
Levy per sub-funds 2 - 10
|
Levy per sub-funds 11 - 20
|
|
|
|
Single
|
€1,525
|
n/a
|
n/a
|
|
|
|
Umbrella
|
€1,525
|
€235
|
€145
|
|
|
Companies (Designated and non-Designated); Authorised Investment Limited Partnerships; Authorised Common Contractual Funds; Authorised Irish Collective Asset-management Vehicles
|
All funds will pay a minimum levy of €1,525.Umbrella funds will also pay a contribution per sub-fund of €235 up to ten sub-funds and a further levy of €145 on sub-funds numbers greater than ten, to a maximum of twenty sub-funds, resulting in a maximum contribution for umbrella funds of €5,325.
|
|
|
|
No. of Sub Funds
|
Levy per sub-fund
|
Total Levy
|
|
|
|
2
|
€235
|
€1,995
|
|
|
E1b — UCITS Self-Managed Investment Companies (SMICs); Authorised Designated Investment Companies (Internally Managed Alternative Investment Funds); Authorised Irish Collective Asset-management Vehicles (Internally Managed Alternative Investment Funds); Authorised Irish Collective Asset-management Vehicles (UCITs SMICs)
|
|
3
|
€235
|
€2,230
|
|
|
|
4
|
€235
|
€2,465
|
|
|
|
5
|
€235
|
€2,700
|
|
|
|
6
|
€235
|
€2,935
|
|
|
|
7
|
€235
|
€3,170
|
|
|
|
8
|
€235
|
€3,405
|
|
|
|
9
|
€235
|
€3,640
|
|
|
|
10
|
€235
|
€3,875
|
|
|
|
11
|
€145
|
€4,020
|
|
|
|
12
|
€145
|
€4,165
|
|
|
|
13
|
€145
|
€4,310
|
|
|
|
14
|
€145
|
€4,455
|
|
|
|
15
|
€145
|
€4,600
|
|
|
|
16
|
€145
|
€4,745
|
|
|
|
17
|
€145
|
€4,890
|
|
|
|
|
18
|
€145
|
€5,035
|
|
|
|
|
19
|
€145
|
€5,180
|
|
|
|
|
20
|
€145
|
€5,325
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
E2a — AIF Management Companies
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
€258,809
|
€51,450
|
€6,606
|
|
|
E2b — Administrators; UCITS Managers (Non Delegating);Depositories; Alternative Investment Fund Managers
E2c — UCITS Managers (Delegating)
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
|
|
|
| |
CATEGORY F
|
| |
Credit Unions
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
F — Credit Unions
|
The required levy from individual credit unions will be assessed as 0.01% of total assets reported in the annual returns setting out their balance sheet as at 30 September 2015, provided that the total levy collected or recovered from credit unions does not exceed the total costs incurred by the Central Bank in performing the functions and exercising the powers of the Central Bank under the
Credit Union Act, 1997
.
|
|
| |
CATEGORY G
|
| |
Moneylenders
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
G — Moneylenders
|
|
Impact Category
|
Low
|
|
|
|
|
|
Band 1
|
Band 2
|
Band 3
|
Band 4
|
Band 5
|
|
|
|
|
Impact Score
|
≤10.5
|
10. 6 - 13.0
|
13. 1 - 15.0
|
15. 1 - 30.0
|
≥30.1
|
|
|
|
|
Levy
|
€980
|
€3,875
|
€9,825
|
€36,600
|
€117,000
|
|
|
|
‘Impact Category’ and ‘Impact Score’ are as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. ‘Impact Category’ reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers. ‘Impact Score’ represents a numeric evaluation of a regulated entity’s potential impact calculated by combining impact metric data.This levy will cover moneylenders’ operation in all Court Districts.
|
|
| |
CATEGORY H
|
| |
Approved Professional Bodies
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
H — Approved Professional Bodies
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
|
Levy
|
n/a
|
n/a
|
n/a
|
n/a
|
€3,710
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| |
CATEGORY J
|
| |
Bureaux de Change
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
J1 — Bureaux de Change
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
|
Levy
|
n/a
|
n/a
|
n/a
|
n/a
|
€925
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
| |
CATEGORY L
|
| |
Default Assessments
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
L — Regulated entities falling within Regulation 16(d)
|
Each regulated entity falling within Regulation 16(d) shall pay a flat rate levy of €3,600.
|
|
| |
CATEGORY M
|
| |
Retail Credit Firms, Home Reversion Firms and Credit Servicing Firms
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
M1 — Retail Credit Firms
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
n/a
|
n/a
|
€20,231
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
|
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
M2 — Home Reversion Firms
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
n/a
|
n/a
|
€9,557
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
|
|
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
|
M3 — Credit Servicing Firms
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
Low
|
|
|
|
Levy
|
n/a
|
n/a
|
n/a
|
n/a
|
€18,205
|
|
|
|
‘Impact Category’ is as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. It reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers.
|
|
|
|
|
| |
CATEGORY N
|
| |
Payment Institutions and E-Money Institutions
|
| | |
Type of regulated entity
|
Basis of calculation for levy contribution
|
|
|
|
|
|
|
|
|
|
|
N — Payment Institutions;E-Money Institutions
|
|
Impact Category
|
Ultra High
|
High
|
Medium High
|
Medium Low
|
|
|
|
|
Levy
|
n/a
|
n/a
|
€492,097
|
€135,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impact Category
|
Low
|
|
|
|
|
Impact Score
|
Band 1
|
Band 2
|
Band 3
|
|
|
|
|
≤51.0
|
51. 1 - 100.0
|
≥100.1
|
|
|
|
|
Levy
|
€2,450
|
€12,250
|
€110,500
|
|
|
|
‘Impact Category’ and ‘Impact Score’ are as recorded for the regulated entity in the Central Bank’s Probability Risk and Impact System (PRISM) as at 31 December 2015. ‘Impact Category’ reflects the Central Bank’s assessment of the potential impact of the failure of a regulated entity on financial stability and consumers. ‘Impact Score’ represents a numeric evaluation of a regulated entity’s potential impact calculated by combining impact metric data.
|
|
