Credit Guarantee (Amendment) Act 2016

Monetary limit on Minister’s liability

12. The Minister shall not exercise the powers conferred on him or her by section 4 of the Principal Act or section 11 in such manner as would result in the aggregate of the Minister’s liability in respect of—

(a) all qualifying finance agreements, to which guarantees under a credit guarantee scheme apply, entered into in any year, and

(b) all qualifying PFI guarantee agreements, to which counter guarantees under a counter guarantee scheme apply, entered into in that same year,

exceeding €15.6 million.