Euro Area Loan Facility Act 2010

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Number 7 of 2010


EURO AREA LOAN FACILITY ACT 2010


ARRANGEMENT OF SECTIONS

Section

1. Definitions.

2. Payments out of Central Fund.

3. Payments into Exchequer.

4. Annual report by Minister to Dáil Éireann.

5. Expenses.

6. Short title.

SCHEDULE 1

Intercreditor Agreement

SCHEDULE 2

Loan Facility Agreement


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Number 7 of 2010


EURO AREA LOAN FACILITY ACT 2010


AN ACT TO FACILITATE IN THE PUBLIC INTEREST THE SAFEGUARDING OF THE FINANCIAL STABILITY OF THE EURO AREA AS A WHOLE AND FOR THAT PURPOSE TO ENABLE PAYMENTS TO BE MADE OUT OF THE CENTRAL FUND OR THE GROWING PRODUCE OF THAT FUND SO AS TO ENABLE EFFECT TO BE GIVEN IN THE STATE TO THE INTERCREDITOR AGREEMENT REGARDING THE POOLED BILATERAL LOANS FOR THE BENEFIT OF THE HELLENIC REPUBLIC MADE BY AND BETWEEN CERTAIN MEMBER STATES OF THE EUROPEAN UNION, INCLUDING THE STATE, AND FOR THAT PURPOSE AND IN ACCORDANCE WITH ARTICLE 2 OF THAT AGREEMENT TO ENABLE EFFECT TO BE GIVEN, IN SO FAR AS IT RELATES TO THE STATE, TO THE LOAN FACILITY AGREEMENT REFERRED TO IN THAT ARTICLE, TO PROVIDE FOR ALL RECEIPTS RECEIVED IN RESPECT OF MONEYS ADVANCED UNDER THIS ACT TO BE PAID INTO THE EXCHEQUER AND TO PROVIDE FOR RELATED MATTERS.

[20th May, 2010]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: