Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 23rd January, 2024.

The Competition and Consumer Protection Commission (the ‘Commission’), in the exercise of its power to impose levies conferred on the Commission by Section 24B of the Consumer Protection Act 2007 (as inserted by the Central Bank Reform Act 2010 ) as approved by the Minister for Enterprise, Trade and Employment and with the consent of the Minister for Finance, hereby makes the following Regulations:

1. These Regulations may be cited as the Consumer Protection Act 2007 (Competition and Consumer Protection Commission) Levy Regulations 2024.

2. The Consumer Protection Act 2007 (National Consumer Agency) Levy Regulations 2011 ( S.I. No. 560 of 2011 ) are hereby amended by the substitution of the Schedule to these Regulations for the Schedules in S.I. No. 560 of 2011 .

19 January, 2024.

BRIAN MCHUGH

Chairperson

Competition and Consumer Protection Commission

Bloom House

Railway Street

Dublin 1

SCHEDULE

Levy period: A 12-month period, commencing on 01 January 2024 and ending on 31 December 2024 in respect of the below categories for regulated entities.

Category A

Credit Institutions

Each credit institution shall pay, in respect of its liability for the year ended 31 December 2024, a levy calculated at the rate of €0.2987 per retail customer as at 31 December 2022. A minimum levy of €500 is payable by each credit institution.

Category B

Insurance Undertakings

(a) Each life assurance undertaking shall pay, in respect of its liability for the year ended 31 December 2024, a levy calculated on the basis of 0.001748% of its total net premium income written on Irish risk business for the year ending 31 December 2022. A minimum levy of €500 is payable by each life assurance undertaking.

(b) Each non-life insurance undertaking (other than those designated as ‘captive’ insurers by the Central Bank of Ireland) shall pay, in respect of its liability for the year ended 31 December 2024, a levy calculated on the basis of 0.018366% of its total net premium income written on Irish risk business for the year ending 31 December 2022. A minimum levy of €500 is payable by each non-life insurance undertaking.

Categories D2, D3, D4, D5

Investment Firms [regulated under the European Union (Markets in Financial Instruments) Regulations 2017 ( S.I. No. 375 of 2017 )].

Included are entities engaged in the receipt and transmission of orders, and/or provision of investment advice; entities engaged in portfolio management and execution of orders; entities engaged in own account trading and underwriting on a firm commitment basis.

Each of the financial service providers in Categories D2, D3, D4 and D5 shall pay, in respect of its liability for the year ended 31 December 2024, a levy calculated at the rate of €1.04 per retail client as at 31 December 2022. A minimum levy of €50 is payable by entities in these categories.

Category F

Credit Unions

Each credit union shall pay, in respect of its liability for the year ended 31 December 2024, a levy calculated on the basis of 0.0022082% of its total assets as at 30 September 2022, or if these asset figures are not available, of its total assets as at 30 September in the most recent year available, as supplied to the Commission by the Central Bank of Ireland. A minimum levy of €50 is payable by each credit union.

Category G

High Cost Credit Providers

Each High Cost Credit Provider shall pay, in respect of its liability for the year ended 31 December 2024, a levy of €986.

Category M1

Retail Credit Firms and Home Reversion Firms

Each retail credit firm and home reversion firm shall pay, in respect of its liability for the year ended 31 December 2024, a levy calculated on the basis of 0.0008598% of the value of outstanding loans at 31 December 2022, as reported to the Commission by the firms. A minimum levy of €50 is payable by each retail credit firm and home reversion firm.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations made by the Chairperson of the Competition and Consumer Protection Commission in accordance with Section 24B of the Consumer Protection Act 2007 (as inserted by the Central Bank Reform Act 2010 ) amend the Consumer Protection Act 2007 (National Consumer Agency) Levy Regulations 2011 ( S.I. No. 560 of 2011 ) and provide for a levy scheme to fund the provision of information in relation to financial services including information in relation to the costs to consumers, the risks and benefits associated with the provision of those services and promoting the development of financial education and capability, in the year 2024.