The Central Bank has issued a Guide to Industry Funding Regulations which are based on the Central Bank Act 1942 (Section 33D) Regulations 2012. The objective of the Regulations is to raise approximately 50 per cent of the budget attributed to the Central Bank’s supervisory activities directly from the financial service providers it regulates. The Regulations apply to all persons who are subject to regulation by the Central Bank.
The Regulations became law on the 18th day of September 2012 and from that date, all financial service providers are liable to pay an annual levy. The Guide is available on the Central Bank website.