PART IIAuthorisation
SECTION 8
Competent authority.
8.—The Bank and the Minister for Enterprise and Employment shall be the competent authorities in the State for—
(a) investment business firms for the purpose of Council Directive 93/22/EEC of 10 May 1993(1), and
(b) authorised investment business firms for the purpose of Council Directive 93/6/EEC of 15 March 1993(1).
SECTION 9
Prohibition on acting as an authorised investment business firm.
9.—(1) It shall be an offence for a company registered in the State or any other person operating in the State to act as an investment business firm, or to claim or to hold themselves out to be an investment business firm, in the State or outside the State unless that person is acting under and within the terms of an authorisation to do so which authorisation has been given—
(a) by a supervisory authority under section 10 or 13 of this Act, or
(b) by a competent authority in another Member State, for the purpose of Council Directive 93/22/EEC of 10 May, 1993(1) as amended or extended from time to time,
or that
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