Euro Area Loan Facility (Amendment) Act 2012
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Amendment of section 2 of Act of 2011. |
2.— Section 2 of the Act of 2011 is amended— | |
(a) by substituting the following for subsection (1): | ||
“(1) The references to the Loan Facility Agreement in the Euro Area Loan Facility Act 2010 include— | ||
(a) the Amendment to the Loan Facility Agreement of June 2011, and | ||
(b) the Amendment to the Loan Facility Agreement of February 2012, | ||
and that Act shall be construed accordingly.”, | ||
(b) in subsection (2) by substituting the following for paragraph (b): | ||
“(b) the Loan Facility Agreement, as amended by the Amendments referred to in paragraphs (a) and (b) of subsection (1).”, | ||
and | ||
(c) in subsection (3) by inserting the following definition after the definition of “Amendment to the Loan Facility Agreement of June 2011”: | ||
“ ‘Amendment to the Loan Facility Agreement of February 2012’ means the Amendment to the EUR 80 000 000 000 Loan Facility Agreement done in Brussels on 27 February 2012 and in Athens on 24 February 2012 entered into by— | ||
(a) the Hellenic Republic as borrower and the Bank of Greece, as agent to the borrower, on the one part, and | ||
(b) the other Member States of the Euro Area represented by the European Commission (acting as agent for those Euro Area Member States, other than the Federal Republic of Germany) and KfW (acting in the public interest, subject to the instructions of and with the benefit of the guarantee of the Federal Republic of Germany) as lenders on the other part, | ||
the text of which (including the Annexes) is set out in Schedule 3;”. |