Companies Act 2014 section 1363

Power to make certain rules and issue guidelines

Section 1363 gives the competent authority (the Central Bank of Ireland) the power to make rules and issue guidelines to ensure compliance with EU and Irish prospectus law, and to facilitate its supervisory role.

• The competent authority (Central Bank) can make rules requiring persons subject to EU or Irish prospectus law to follow specified procedures and use specified forms when providing information
• Rules may require reports or disclosures to support effective supervision of prospectus-related activities, but must not conflict with EU or Irish prospectus law or demand information unrelated to the Prospectus Regulation's purposes
• Breaches of rules made under this section are subject to the same administrative sanctions regime that applies to breaches of EU prospectus law under the Domestic Regulations
• The competent authority may also issue written guidelines on the steps that may be taken to comply with EU or Irish prospectus law