Chapter 1: Scope 

INTRODUCTION

In order to ensure a consistent level of protection for consumers regardless of the type of financial services provider they choose, the Consumer Protection Code (the Code) was introduced in August 2006. Following the introduction of legislation governing the authorisation of retail credit firms and home reversion firms, an Addendum to the Code was issued in May 2008.

The Consumer Protection Code has been updated and this revised Consumer Protection Code replaces the original Consumer Protection Code introduced in August 2006 and is effective from 1 January 2012.

(a)     Section 117 of the Central Bank Act 1989;

(b)     Section 23 and Section 37 of the Investment Intermediaries Act 1995;

(c)      Section 8H of the Consumer Credit Act 1995; and

(d)     Section 61 of the Insurance Act 1989.

The Central Bank of Ireland has the power to administer sanctions for a contravention of this Code, under Part IIIC of the Central Bank Act 1942.

The provisions of this Code are binding on regulated entities and must, at all times, be complied with when providing financial services.

Any legal proceedings, or any investigation, disciplinary or enforcement action in respect of any provision of the Consumer Protection Code that applied prior to the issue of this Code may be continued, and any breach of any provision of the Consumer Protection Code that applied prior to the issue of this Code may subsequently be the subject of legal proceedings, investigation, disciplinary or enforcement action by the Central Bank or other person, as if the provision had not been amended or deleted and as if the Code had not been updated and re-issued. 

• financial services providers authorised, registered or licensed by the Central Bank; and 
• financial services providers authorised, registered or licensed in another EU or EEA Member State when providing services in this State on a branch or cross-border basis. 

Without prejudice to the generality of the above, the types of firm that the Code applies to include:

• Credit Institutions;
• Insurance Undertakings;
• Investment Business Firms, authorised under the Investment Intermediaries Act 1995;
• Investment Intermediaries, authorised under the Investment Intermediaries Act 1995;
• Insurance Intermediaries;
• Mortgage Intermediaries;
• Payment Institutions;
• Electronic Money Institutions;
• Credit Unions, when acting as insurance intermediaries;
• Regulated entities providing retail credit; and
• Home Reversion Firms.

Chapter 2 (General Principles) applies in respect of all customers in the State and the other chapters of the Code apply in respect of customers in the State who fall within the definition of consumer (except in the case of provisions which are specifically restricted to personal consumers - provisions which are specifically restricted to personal consumers apply only to customers in the State who fall within the definition of personal consumer). 

Where regulated entities are providing credit under credit agreements which fall within the scope of the European Communities (Consumer Credit Agreements) Regulations 2010 (S.I. No. 281 of 2010), only the following sections of the Code apply:

• Chapter 2, General Principles 2.1 to 2.4 and 2.7 to 2.12
• Chapter 3, Common Rules
• Chapter 4, Provision of Information:  Provisions 4.7  to 4.11 and 4.26
• Chapter 6, Post-sale Information Requirements: Provision 6.8
• Chapter 8, Arrears Handling
• Chapter 10, Errors and Complaints Resolution
• Chapter 11, Records and Compliance.

Where regulated entities are providing payment services and/or issuing electronic money, only the following sections of the Code apply: 

• Chapter 2, General Principles 2.1 to 2.4 and 2.7 to 2.12
• Chapter 3, Common Rules: Provisions 3.1, 3.17 to 3.23 and 3.28 to 3.45
• Chapter 4, Provision of Information: Provisions 4.7 to 4.11
• Chapter 8, Arrears Handling
• Chapter 9, Advertising: Provisions 9.1 to 9.18 and 9.30 to 9.31
• Chapter 10, Errors and Complaints Resolution
• Chapter 11, Records and Compliance: Provisions 11.5 to 11.10

THE CODE DOES NOT APPLY TO:  

• Services provided by regulated entities to persons outside the State;
• MiFID services;
• Moneylending under the Consumer Credit Act 1995;
• Reinsurance business;  
• Bureau de change business;
• Credit union activities, other than when acting as insurance intermediaries;
• The provision of credit involving a total amount of credit of less than €200; and
• Hire purchase and consumer hire agreements

OTHER MATTERS

All references to the provision of services throughout this Code also include the provision of advice.

Please refer to the Definitions section for any term shown in bold and italics throughout the text of the Code.