Irish Telecommunications Investments Limited Act, 1981

Guarantee by Minister for Finance of payment of instalments, etc. by Company.

7.—(1) The Minister for Finance, after consultation with the Minister, may if he so thinks fit guarantee the due payment by the Company of instalments or other amounts of money (including money in a currency other than the currency of the State) owed by the Company and outstanding under a contract entered into by the Company or the interest on any such instalments or amounts outstanding or both the payment of such instalments or amounts outstanding and such interest and may also guarantee the payment by the Company of commission and incidental expenses arising in connection with such a contract.

(2) The Company shall not enter into a contract of the kind referred to in subsection (1) of this section except with the prior consent of the Minister given with the approval of the Minister for Finance.