188 Deputy Gerry Adams asked the Minister for Finance if the Central Bank of Ireland will confirm whether the current agreement between a company (details supplied) and Allied Irish Banks is defined as a controlled function or pre-approval controlled function under the meaning of the Central Bank Reform Act 2010; if he will confirm, if it is considered a pre-approval controlled function, whether Allied Irish Banks obtained the prior written approval from Central Bank of Ireland to appoint the company for the outsourcing services as required under the Central Bank's guidance on fitness and probity standards for outsourcing to an unregulated entity; if he will confirm whether as per the Central Bank of Ireland guidance on fitness and probity standards 2011 the Central Bank assured itself that persons in the company performing the pre-approval controlled functions were compliant with the fitness and probity standards; if he will confirm whether those persons included any of the shareholders of the company; and if he will make a statement on the matter. [24082/12]

Summary

188 Deputy Gerry Adams asked the Minister for Finance if the Central Bank of Ireland will confirm whether the current agreement between a company (details supplied) and Allied Irish Banks is defined as a controlled function or pre-approval controlled function under the meaning of the Central Bank Reform Act 2010; if he will confirm, if it is considered a pre-approval controlled function, whether Allied Irish Banks obtained the prior written approval from Central Bank of Ireland to appoint the company for the outsourcing services as required under the Central Bank's guidance on fitness and probity standards for outsourcing to an unregulated entity; if he will confirm whether as per the Central Bank of Ireland guidance on fitness and probity standards 2011 the Central Bank assured itself that persons in the company performing the pre-approval controlled functions were compliant with the fitness and probity standards; if he will confirm whether those persons included any of the shareholders of the company; and if he will make a statement on the matter. [24082/12]

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• Banking Sector Regulation

  xml · EN · 15 May 2012

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