The Central Bank has issued a new form of Individual Questionnaire (“IQ”) which will apply from 1 December 2011. It is a requirement for persons seeking approval to act as directors to Irish authorised funds or to act as designated persons providing services to fund boards to complete these in order to obtain the necessary approval from the Central Bank.
The revised IQ was prepared following a consultation process with the Irish funds industry. The new IQ is available on the Central Bank’s website and an online application system is currently being developed to guide applicants through relevant sections. The new IQ reflects requirements from the Central Bank’s new fitness and probity regime.