Central Bank Of Ireland Cooperation Agreements

Published on April 8, 2021

The Competition Authority (i.e. one of the CCPC`s predecessors) has entered into cooperation agreements with various legal bodies, in accordance with Section 34 (1) of the Competition Act 2002. These cooperation agreements remain in force until they are replaced by new cooperation agreements between the CCPC and the relevant legal bodies. The Memorandum of Understanding aims to clarify the roles and responsibilities of the CSO and the CBI in the development and transmission of the CCR, as well as areas of cooperation between the CSO and the CBI. The agreement is concluded provided that it is subject to the legislation applicable to each institution. The CBI and the CSO will have separate bilateral memorandums of understanding with the Ministry of Finance. Cooperation agreements, agreements between the competition authority and other legal bodies covered by Section 34(1) of the Competition Act 2002 are: Section 19 of the Competition and Consumer Protection Act 2014 (2014) authorizes the CCPC to enter into agreements with certain regulatory bodies to participate in its respective functions in consumer protection and welfare or (ii) competition between companies. This allows the CCPC to enter into agreements with other legal bodies to enable cooperation, avoid duplication and ensure consistency between what we do and what other legal bodies do. Citizens who have questions about the operations of the Central Bank and the regulation of the financial sector can contact our public contacts hotline, 1890777777. Our helpline is open Monday to Friday from 9 a.m. to 6 p.m. Members of the public can also enquiries@centralbank.ie an email.

The Central Bank is a member of the European Central Bank System (SEBC). The SEBC includes the European Central Bank and the national central banks of all Member States, whether or not they have adopted the euro. The SEBC`s mission is to conduct foreign exchange transactions for euro area countries, manage official foreign exchange reserves in each country and promote the proper functioning of financial institutions. However, the existence of cooperation agreements is only one of the requirements for delegation to third-country companies. In this regard, funds and fund managers may be interested in the fact that the European Commission has updated, on 7 July 2020, its communication to stakeholders, which the UK withdraws, and EU asset management legislation (here).