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Borrowing by Shannon Group
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13. (1) Shannon Group or a subsidiary of Shannon Group may, with the approval of the Minister given with the consent of the Minister for Public Expenditure and Reform and the Minister for Finance, and upon such conditions as may be approved by the Minister for Public Expenditure and Reform with the consent of the Minister for Finance, raise or borrow money (including money in a currency other than the currency of the State) including, by means of the issue of debentures (or other debt security) or otherwise.
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(2) Shannon Group, or a subsidiary of Shannon Group, may borrow money temporarily (including money in a currency other than the currency of the State) but the aggregate at any one time of moneys borrowed under this subsection shall not exceed such amount as the Minister, with the consent of the Minister for Public Expenditure and Reform and the Minister for Finance, by direction specifies.
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(3) The aggregate of moneys standing borrowed under this section at any one time shall not exceed €100 million.
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(4) The Minister may, with the consent of the Minister for Public Expenditure and Reform and the Minister for Finance, having regard to the performance of Shannon Group in relation to its functions and its future investment plans, by order vary the amount specified in subsection (3) .
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