European Financial Stability Facility and Euro Area Loan Facility (Amendment) Act 2011

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Number 25 of 2011


EUROPEAN FINANCIAL STABILITY FACILITY AND EURO AREA LOAN FACILITY (AMENDMENT) ACT 2011


ARRANGEMENT OF SECTIONS

Section

1. Amendment of European Financial Stability Facility Act 2010.

2. Amendment of Euro Area Loan Facility Act 2010.

3. Short title.

SCHEDULE 1

Amendment to EFSF Framework Agreement

SCHEDULE 2

Amendment to Loan Facility Agreement of June 2011


Acts Referred to

Euro Area Loan Facility Act 2010

2010, No. 7

European Financial Stability Facility Act 2010

2010, No. 16

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Number 25 of 2011


EUROPEAN FINANCIAL STABILITY FACILITY AND EURO AREA LOAN FACILITY (AMENDMENT) ACT 2011


AN ACT TO FURTHER FACILITATE, IN THE PUBLIC INTEREST, THE FINANCIAL STABILITY OF THE EUROPEAN UNION AND THE SAFEGUARDING OF THE FINANCIAL STABILITY OF THE EURO AREA AS A WHOLE AND FOR THOSE PURPOSES—

(A) HAVING REGARD TO THE PARTICIPATION BY THE STATE IN THE EUROPEAN FINANCIAL STABILITY FACILITY, TO ENABLE EFFECT TO BE GIVEN TO THE AMENDMENT TO THE EFSF FRAMEWORK AGREEMENT ENTERED INTO BY CERTAIN MEMBER STATES OF THE EUROPEAN UNION ON THE ONE PART AND THE EUROPEAN FINANCIAL STABILITY FACILITY ON THE OTHER PART,

(B) TO ENABLE EFFECT TO BE GIVEN, IN SO FAR AS IT RELATES TO THE STATE, TO THE AMENDMENT TO THE EUR 80 000 000 000 LOAN FACILITY AGREEMENT DONE IN BRUSSELS ON 14 JUNE 2011 AND IN ATHENS ON 10 JUNE 2011,

(C) TO AMEND THE EURO AREA LOAN FACILITY ACT 2010 AND THE EUROPEAN FINANCIAL STABILITY FACILITY ACT 2010, AND

(D) TO PROVIDE FOR RELATED MATTERS.

[23rd September, 2011]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: