Stock Exchange Act, 1995 (No. 9)

AI Summary of Stock Exchange Act, 1995 (No. 9)

The Stock Exchange Act 1995 modernises the framework for regulating stock exchanges in Ireland, ensuring that it meets contemporary market demands. It introduces a formal authorisation process, requiring exchanges to receive approval from the Minister for Enterprise and Employment based on stringent governance, financial, and operational criteria. Key provisions include the need for sufficient financial resources and effective trading systems to uphold fair and transparent market practices.

Moreover, the Act empowers the Central Bank to oversee compliance and enforce regulatory standards, enhancing investor protection through mechanisms for monitoring market activities and addressing misconduct. By establishing clear rules for listing, trading, and membership, it aligns Ireland with international standards, thereby facilitating growth in the Irish Stock Exchange and the broader financial services sector.

Send it Download PDF

Version status: Repealed | Document consolidation status: Updated to reflect all known changes

Published date: 14 June 1995

		Future version	Amendment requiring commencement	Draft proposed change
	Introductory Text
	Acts Referred to
	Part I Preliminary and General (ss. 1-7)
	1. Short title.
	2. Commencement.
	3. Interpretation.
	4. Repeals.
	5. Service of notices.
	6. Expenses.
	7. Laying of regulations before Houses of Oireachtas.
	Part II Stock Exchanges (ss. 8-15)
	8. Prohibition of unlawful stock exchanges.
	9. Grant of approval.
	10. Existing stock exchange.
	11. Imposition of conditions or requirements on approved stock exchanges.
	12. Refusal to consent to amendment of rules, etc.
	13. Procedure on refusal to grant approval, etc.
	14. Bank may revoke approval of stock exchange.
	15. Maintenance of books and records by approved stock exchanges.
	Part III Membership of Stock Exchanges (ss. 16-27)
	16. Competent authority.
	17. Prohibition of unlawful member firm.
	18. Grant of authorisation.
	19. Requests from Commission.
	20. Authorised Member Firms doing business outside the State.
	21. Existing member firms.
	22. Imposition of conditions or requirements on authorised member firms.
	23. Refusal to consent to amendment of memorandum of association or articles of association of an authorised member firm.
	24. Bank may revoke authorisation of member firm.
	25. Register of member firms.
	26. Asset and liability ratios and structures of authorised member firms.
	27. Maintenance of books and records by member firms.
	Part IV Regulation And Supervision of Stock Exchanges and Member Firms (ss. 28-32)
	28. General functions of Bank.
	29. Directions by Bank.
	30. Winding-up on application to Court.
	31. Restrictions on advertising.
	32. Exemptions from restrictions on advertising.
	Part V Auditors (ss. 33-35)
	33. Appointment of auditor.
	34. Duties of auditor.
	35. False statements to auditors.
	Part VI Miscellaneous (ss. 36-54)
	36. Power to require a second audit.
	37. Bank may disqualify officers and employees of stock exchanges and member firms in certain circumstances.
	38. Codes of conduct.
	39. Acquiring transactions.
	40. Notification of certain transactions.
	41. Approval of acquiring transactions.
	42. Period for implementing acquiring transactions.
	43. Imposition by Bank of conditions or requirements in respect of proposed acquiring transactions.
	44. Limitation on validity of certain acquiring transactions.
	45. Refusal by Bank to approve acquiring transactions.
	46. Decision of Bank with respect to acquiring transactions under section 40 to be appealable.
	47. Inquiries by Bank into acquiring transactions.
	48. Obligation to inform Bank of shareholdings, etc.
	49. Other enactments relating to acquiring transactions.
	50. Amendment of section 16 of Central Bank Act, 1989.
	51. Investor compensation.
	52. Client money and investment instruments.
	53. Exemption from liability for damages.
	54. Personal liability of officers.
	Part VII Enforcement, Offences and Penalties (ss. 55-70)
	55. Appointment of authorised officers.
	56. Powers of authorised officers.
	57. Appointment of inspector by Court.
	58. Power of inspector to extend investigation.
	59. Direction to inspector by Court.
	60. Powers of inspection.
	61. Expenses of and fees relating to an investigation.
	62. Inspectors' reports and proceedings thereon.
	63. Powers of Court following consideration of reports.
	64. Appointment of an inspector by Bank.
	65. Power to make determinations for breaches of conditions or requirements.
	66. Search and seizure.
	67. Admissibility in evidence of reports of inspectors.
	68. Privilege.
	69. Consent to publication of information.
	70. Offences and penalties.
	First Schedule Supplementary Provisions in Relation to a Direction by the Bank under Section 29
	Second Schedule Supplementary Provisions in Relation to a Committee Appointed Under section 65 of This Act

Request a trial

The best way to experience Better Regulation is to try it - free and without obligation.

Take a trial

Table of Contents

Page Overview

Document Overview

AI Summary of Stock Exchange Act, 1995 (No. 9)