In its Summer 2022 Legislation Programme, published yesterday, the Government confirmed that publication of the Central Bank (Individual Accountability Framework) Bill continues to be a priority matter. It is hoped that the Bill will be published in the coming weeks, so that it can complete its passage through the Houses of the Oireachtas before the summer recess.
As mentioned in our recent update, the Minister for Finance had confirmed that publication of the Bill was subject to:
- the publication by the Joint Committee on Finance, Public Expenditure and Reform and Taoiseach of its Report on pre-legislative scrutiny of the General Scheme of the Bill (that Report was then published at the start of April 2022), and
- final agreement on changes needed to take account of the Supreme Court’s decision in Zalewski v Adjudication Officer and Others. For further information on that decision, read our Employment Group’s briefing: Permanent changes for the WRC and the wider implications of the recent Supreme Court decision in Zalewski.
Please get in touch with any member of our market-leading Financial Regulation: Investigation and Enforcement team if you wish to discuss the potential impact of the proposed individual accountability framework on your business. We will issue further updates when the Bill is published.