Finance (Certain European Union and Intergovernmental Obligations) Act 2016

Purpose of payments referred to in section 4

5. Payments referred to in section 4 made to the Single Resolution Board (in sections 6 and 7 (2) referred to as “loans to the Single Resolution Board”) shall only be made to meet the funding requirements of resolution schemes pursuant to the SRM Regulation and the Intergovernmental Agreement with respect to the State’s compartment for institutions authorised in the State which are the subject of a resolution action.