Credit Guarantee (Amendment) Act 2016
Monetary limit on Minister’s liability | ||
12. The Minister shall not exercise the powers conferred on him or her by section 4 of the Principal Act or section 11 in such manner as would result in the aggregate of the Minister’s liability in respect of— | ||
(a) all qualifying finance agreements, to which guarantees under a credit guarantee scheme apply, entered into in any year, and | ||
(b) all qualifying PFI guarantee agreements, to which counter guarantees under a counter guarantee scheme apply, entered into in that same year, | ||
exceeding €15.6 million. |