AI Summary of 2. Interpretation.
This Act outlines key definitions and frameworks applicable to investment business firms and related entities. It establishes the roles and responsibilities of authorised professional bodies, supervisory authorities, and collective investment schemes, while clarifying the permissions and obligations for firms operating under its jurisdiction.
Specific terms such as 'investment business services', 'authorised investment business firm', and 'qualifying holding' shape the regulatory landscape, ensuring that firms engage within a coherent framework that supports investor protection and market integrity.
2. Interpretation.
(1) In this Act, unless the context otherwise requires -
"approved professional body" has the meaning assigned to it by section 55 of this Act;
"associated undertaking" means an associated undertaking within the meaning of Regulation 34 of the European Communities (Companies: Group Accounts) Regulations, 1992 (S.I. 201 of 1992);
"authorised investment business firm" means an investment business firm which has been authorised by a supervisory authority under section 10 or 13 of this Act or which is deemed to be authorised under Part IV or Part VII of this Act;
"authorisation" means an authorisation granted under section 10 or 13 of this Act, or an authorisation under Part IV or Part VII, unless otherwise specified;
"authorised officer" means a person appointed to be an authorised officer under Part 3 of the Central Bank (Supervision and Enforcement Act 2013);
"the Bank" means the Central Bank and Financial Services Authority of Ireland;