Fiscal Responsibility Act 2012

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Number 39 of 2012


FISCAL RESPONSIBILITY ACT 2012


ARRANGEMENT OF SECTIONS

PART 1

Interpretation

Section

1. Interpretation.

PART 2

The Fiscal Rules

2. Duty of Government to endeavour to comply with fiscal rules.

3. Budgetary rule.

4. Debt rule.

5. Medium-term budgetary objective.

6. Correction mechanism.

PART 3

Irish Fiscal Advisory Council

7. Irish Fiscal Advisory Council.

8. Functions of Fiscal Council.

PART 4

Miscellaneous and Supplementary

9. Regulations.

10. Expenses.

11. Short title and commencement.

SCHEDULE

Irish Fiscal Advisory Council


Acts Referred to

Companies Act 1990

1990, No. 33

Comptroller and Auditor General (Amendment) Act 1993

1993, No. 8

Comptroller and Auditor General Acts 1866 to 1998

Ethics in Public Office Act 1995

1995, No. 22

European Parliament Elections Act 1997

1997, No. 2

Freedom of Information Act 1997

1997, No. 13

Local Government Act 2001

2001, No. 37

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FISCAL RESPONSIBILITY ACT 2012


Number 39 of 2012


AN ACT TO MAKE PROVISION FOR SECURING THAT THE RULES IN ARTICLE 3 OF THE TREATY ON STABILITY, COORDINATION AND GOVERNANCE IN THE ECONOMIC AND MONETARY UNION TAKE EFFECT IN THE LAW OF THE STATE IN ACCORDANCE WITH PARAGRAPH 2 OF THAT ARTICLE AND THAT THE RULE IN ARTICLE 4 OF THAT TREATY TAKES EFFECT IN THE STATE; TO MAKE PROVISION IN ACCORDANCE WITH ARTICLE 3 OF THAT TREATY IN RELATION TO A MEDIUM-TERM BUDGETARY OBJECTIVE AND A CORRECTION MECHANISM; TO ESTABLISH A BODY TO BE KNOWN AS COMHAIRLE CHOMHAIRLEACH BHUISÉADACH NA hÉIREANN OR, IN THE ENGLISH LANGUAGE, THE IRISH FISCAL ADVISORY COUNCIL AND PROVIDE FOR ITS FUNCTIONS; AND TO PROVIDE FOR RELATED MATTERS.

[27th November, 2012]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: