Irish Financial Services Appeals Tribunal

The Irish Financial Services Appeals Tribunal (“IFSAT”) is an independent tribunal which hears and determines appeals brought against certain decisions of the Central Bank. IFSAT was established under Part VIIA of the Central Bank Act 1942 (the “Act”).

In general, only an “affected person” may appeal a decision of the Central Bank to IFSAT, and then only where the decision is declared to be an “appealable decision” under the relevant legislation.  An affected person is someone whose interests are directly or indirectly affected by an appealable decision.   An affected person must usually bring an appeal by notice in writing within 28 days of being notified of the appealable decision by the Central Bank. IFSAT does, however, have the power to extend this period if such an application is made.

IFSAT’s website ( contains detailed information in relation to the appeals process and template forms to be completed when making an appeal. IFSAT also publishes its previous decisions on its website.

Decisions of the Central Bank which can be appealed to IFSAT include:

  • A decision to refuse an application for authorisation.
  • A decision to revoke or withdraw an authorisation.
  • A decision to refuse an application for registration of a credit union.
  • A decision to cancel the registration of a credit union.
  • A decision to oppose an acquiring transaction.
  • A decision to refuse the appointment of an individual to perform a senior function in a regulated firm (i.e. a pre-approval controlled function, or PCF).
  • A decision of an Inquiry to impose an administrative sanction.

IFSAT can make a number of different decisions in determining an appeal, including:

  • Affirming a decision.
  • Remitting the matter concerned for reconsideration by the Central Bank (together with a recommendation or direction from IFSAT as to what aspects of the matter should be reconsidered).
  • In the case of appealable decisions made under Part IIIC of the Act; vary, set aside or substitute the decision for any appropriate decision that the Central Bank could lawfully have made in relation to the matter concerned.

The Enforcement Division of the Central Bank represents the Central Bank at proceedings before IFSAT.

High Court

Both the affected person and the Central Bank can appeal to the High Court against a decision of IFSAT. Such an appeal must be made within 28 days of the notification of the decision, or within such extended period as the High Court allows. An appeal to the High Court does not affect the operation of the IFSAT decision appealed against, or prevent the taking of action to implement the decision, unless the High Court otherwise orders.