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S.I. No. 505/2009 - National Treasury Management Agency Act 1990 (Credit Institutions (Financial Support) Act 2008) Delegation of Functions Order 2009

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 18th December, 2009.

The Government, in exercise of the powers conferred on them by section 5 of the National Treasury Management Agency Act 1990 (No. 18 of 1990), hereby order as follows:

1. This Order may be cited as the National Treasury Management Agency Act 1990 (Credit Institutions (Financial Support) Act 2008) Delegation of Functions Order 2009.

2. The following functions of the Minister for Finance under the Credit Institutions (Financial Support) Act 2008 (No. 18 of 2008) (as amended by subsection 17(1) of, and Part 2 of Schedule 2 to, the Financial Measures (Miscellaneous Provisions) Act 2009 (No. 14 of 2009)) are delegated to the National Treasury Management Agency:

(a) the function of administering, on behalf of the Minister, the Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 (S.I. No. of 2009) (in this Order called “the Scheme”), made under section 6(4) of that Act, for the purposes of providing financial support referred to in subsection 6(1) of that Act;

(b) the function, under section 6(4) of that Act, of determining the terms under which any such financial support is to be provided under the Scheme, and the conditions of providing any such financial support.

3. The order entitled the National Treasury Management Agency Act 1990 (Credit Institutions (Financial Support) Act 2008) Delegation of Functions Order 2009, made on 14 January 2009, is revoked.

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GIVEN under the Official Seal of the Government,

15 December 2009.

BRIAN COWEN,

Taoiseach.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This order provides that certain functions of the Minister for Finance under the Credit Institutions (Financial Support) Act 2008 are delegated to the National Treasury Management Agency, particularly the operation of the Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009.