S.I. No. 576/2008 - Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2008

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S.I. No. 576 of 2008
CENTRAL BANK ACT 1942 (FINANCIAL SERVICES OMBUDSMAN COUNCIL) LEVIES AND FEES REGULATIONS 2008
Notice of the making of this Statutory Instrument was published in
“Iris Oifigiúil” of 30th December, 2008.
The Financial Services Ombudsman Council, in exercise of the powers conferred on the Council by Sections 57BE and 57BF of the Central Bank Act 1942 (as inserted by the Central Bank and Financial Services Authority of Ireland Act 2004 ) and with the consent of the Minister for Finance, hereby makes the following regulations:
1. These Regulations may be cited as the Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2008.
2. The Schedule to S.I. No. 726 of 2007 — Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2007 — is hereby amended by the substitution therefore of the Schedule to these Regulations.
GIVEN under the seal of the Financial Services Ombudsman Council
19 December 2008
DERMOTT JEWELL,
Chairperson.
Financial Services Ombudsman Council,
Lincoln House
Lincoln Place
Dublin 2.
SCHEDULE
Category A
Credit Institutions
Each credit institution shall pay, in respect of its liability for the year ended 31 December 2009, a levy calculated at the rate of €0.185 per retail customer as at 31 May 2008. A minimum levy of €600 is payable by each credit institution.
Category B
Insurance Undertakings
(a) Each life assurance undertaking shall pay, in respect of its liability for the year ended 31 December 2009, a levy of 0.0115% of its total net premium income, but excluding Class V11 premium income, written on Irish risk business as stated in the Irish Financial Services Regulatory Authority Insurance Statistical Review 2007. A minimum levy of €600 is payable by each life assurance undertaking.
(b) Each non-life insurance undertaking shall pay, in respect of its liability for the year ended 31 December 2009, a levy of 0.05% of its total net premium income written on Irish risk business as stated in the Irish Financial Services Regulatory Authority Insurance Statistical Review 2007. A minimum levy of €600 is payable by each non-life insurance undertaking.
Category C
Credit Unions
Each credit union shall pay, in respect of its liability for the year ended 31 December 2009, a levy of 0.0039% of its total assets as at 30 September 2007 as supplied to the Bureau by the Irish Financial Services Regulatory Authority. A minimum levy of €175 is payable by each credit union.
Category D
Intermediaries — Including Investment Product Intermediaries, Insurance Intermediaries and Mortgage Intermediaries who hold authorisations under the Consumer Credit Act 1995 .
Each intermediary shall pay, in respect of its liability for the year ended 31 December 2009, a levy calculated on the basis of the amounts levied in S.I. No. 726 of 2007 — Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2007. A minimum levy of €125 is payable by each intermediary.
Category E
Investment Business Firms (other than Investment Product Intermediaries), Collective Investment Schemes and other service providers, and Exchanges—
Including designated fund managers; entities engaged in the receipt and transmission of orders and/or the provision of investment advice; entities engaged in portfolio management and the execution of orders; entities engaged in own account trading and underwriting; Stock Exchange member firms; authorised unit trusts, authorised investment companies, and authorised investment limited partnerships; agency fund managers; service providers (manager/administrator and/or trustee) to collective investment schemes; approved stock exchanges; and financial futures and options exchanges.
Each of these financial service providers, apart from Stock Exchange member firms, shall pay, in respect of its liability for the year ended 31 December 2009, a levy calculated on the basis of amounts levied in S.I. No. 726 of 2007 — Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2007. A minimum levy of €750 is payable by each firm.
Each Stock Exchange member firm shall pay, in respect of its liability for the year ended 31 December 2009, a levy calculated on the basis of 50% of the amounts levied in S. I. No. 297 of 2008- Central Bank Act 1942 (Sections 33J and 33K) Regulations 2008. A minimum levy of €750 is payable by each member firm.
Category F
Moneylenders
Each approved moneylender shall pay, in respect of its liability for the year ended 31 December 2009, a levy calculated on the basis of amounts levied in S.I. No. 726 of 2007 — Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2007. A minimum levy of €125 is payable by each moneylender.
Category G
Approved Professional Bodies
Each approved professional body shall pay, in respect of its liability for the year ended 31 December 2009, a levy calculated on the basis of amounts levied in S.I. No. 726 of 2007 — Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2007. A minimum levy of €750 is payable by each body.
Category H
Bureaux de Change
Each bureau de change shall pay, in respect of its liability for the year ended 31 December 2009, a levy of €300.
Category I
Money Transmission Service Providers and E-Money Providers
Each provider shall pay, in respect of its liability for the year ended 31 December 2009, a levy of €300.
Category J
Voluntary Health Insurance Board
The Board shall pay, in respect of its liability for the year ended 31 December 2009, a levy of 0.05% of total net premium income for the year ended 31 December 2008.
Category K
Pawnbrokers
Each authorised pawnbroker shall pay, in respect of its liability for the year ended 31 December 2009, a levy of €125.
Category L
Other Regulated Financial Service Providers
Each financial service provider as prescribed in Regulation 2(a), (c), (d), (e) and (f) of S.I. No. 191 of 2005 — Central Bank Act 1942 (Financial Services Ombudsman Council) Regulations 2005- shall pay, in respect of its liability for the year ended 31 December 2009, a levy of €200. Intermediaries already included under Category D and mortgage lenders and hire purchase concerns that also operate as credit institutions are not covered by this category.
Category M
All Other Regulated Entities
Where the Bureau is required to investigate a complaint against any other regulated entity during the year ended 31 December 2009, that entity will be required to pay a flat rate levy contribution of €750 per complaint.
Category N
Default Assessments
Each regulated entity falling within Regulation 9(d) of S.I. No. 329 of 2005 — Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2005 — shall pay a flat rate levy contribution of €3,600.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation).
These Regulations made by the Financial Services Ombudsman Council in accordance with Sections 57BE and 57BF of the Central Bank Act 1942 (as amended) amend the Central Bank Act 1942 — Financial Services Ombudsman Council- Levies and Fees Regulations 2008 (S.I. No. 726 of 2008) and provide for a scheme of levies on regulated entities to fund the operation of the Financial Services Ombudsman’s Bureau for the year ended 31 December 2009.

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