The Central Bank (Individual Accountability Framework) Bill completed Committee Stage in Dáil Éireann yesterday evening (7 December 2022). Dáil Report Stage is expected to take place during the week beginning 12 December. We may see small additional amendments put forward at Report Stage to address some points raised at Committee Stage, including the point regarding when an investigation can be discontinued (read our earlier update here). A query was also raised at Committee Stage yesterday evening as to whether the drafting of one of the sections that deals with breaking the participation link needs to be refined - that point has been taken away by the Minister for consideration.
It now seems likely that all Seanad stages will take place in January 2023. We expect the consultations from the Central Bank on its regulations and guidance to issue for review around the same time that the Bill is finalised.
In the meantime, please get in touch with any member of our team to talk through how we can assist you in relation to the implementation of the new framework.