Authorisation Process for Retail Credit Firms and Home Reversion Firms 

Responsibility for the proper management and control of a retail credit firm or a home reversion firm, and the integrity of its systems, rests with the board of directors and its senior management or any other persons responsible for the operation of such firms. 

Section 31A of the Act sets out the requirements, which must be satisfied in order for an authorisation to be granted.  

The Central Bank welcomes applications where the proposed retail credit firm or home reversion firm (‘applicant’) can meet the legislative requirements relating to retail credit firms or home reversion firms and all other, current, published requirements.

Firms are advised to seek legal advice if in any doubt about the scope of the legislation.

Firms should contact the Central Bank at an early stage should they consider that their proposed activities require authorisation.  

It is an offence to operate as a retail credit firm or home reversion firm without having applied to the Central Bank for authorisation.

Application documents: