Finance (European Stability Mechanism and Single Resolution Fund) Act 2021

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Number 38 of 2021


FINANCE (EUROPEAN STABILITY MECHANISM AND SINGLE RESOLUTION FUND) ACT 2021


CONTENTS

Section

1. Definitions

2. Approval of terms of Amending Agreement

3. Amendment of Act of 2012

4. Amendment of Act of 2014

5. Approval of terms of Intergovernmental Agreement

6. Amendment of Act of 2015

7. Expenses

8. Short title, commencement, collective citation and construction

SCHEDULE 1

PART 1

Text of Amending Agreement in the Irish Language

PART 2

Text of Amending Agreement in the English Language

SCHEDULE 2

PART 1

Text of ESM Treaty in the Irish Language

PART 2

Text of ESM Treaty in the English Language

SCHEDULE 3

PART 1

Text of Intergovernmental Agreement in the Irish Language

PART 2

Text of Intergovernmental Agreement in the English Language


Acts Referred to

European Stability Mechanism (Amendment) Act 2014 (No. 32)

European Stability Mechanism Act 2012 (No. 20)

European Stability Mechanism Acts 2012 and 2014

Finance (Miscellaneous Provisions) Act 2015 (No. 37)

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Number 38 of 2021


FINANCE (EUROPEAN STABILITY MECHANISM AND SINGLE RESOLUTION FUND) ACT 2021


An Act to provide for the approval of the terms of the Agreement amending the Treaty establishing the European Stability Mechanism done at Brussels on 27 January 2021 and on 8 February 2021 between the Euro Area Member States of the European Union; to provide for the approval of the terms of the Agreement amending the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 27 January 2021 and on 8 February 2021; to amend the European Stability Mechanism Act 2012 , the European Stability Mechanism (Amendment) Act 2014 and the Finance (Miscellaneous Provisions) Act 2015 ; and to provide for related matters.

[9th December, 2021]

Be it enacted by the Oireachtas as follows:

Definitions

1. In this Act—

“Act of 2012” means the European Stability Mechanism Act 2012 ;

“Act of 2014” means the European Stability Mechanism (Amendment) Act 2014 ;

“Act of 2015” means the Finance (Miscellaneous Provisions) Act 2015 ;

“Amending Agreement” means the Agreement amending the Treaty establishing the European Stability Mechanism done at Brussels on 27 January 2021 and on 8 February 2021 between the Euro Area Member States of the European Union, the text of which is, for ease of reference, set out in—

(a) Part 1 of Schedule 1 in the Irish language, and

(b) Part 2 of Schedule 1 in the English language;

“ESM Treaty” means the Treaty establishing the European Stability Mechanism done at Brussels on 2 February 2012 between the Euro Area Member States of the European Union as adapted in consequence of the accession of the Republic of Latvia to it on 13 March 2014 and as further adapted in consequence of the accession of the Republic of Lithuania to it on 3 February 2015, the text of which (including the Annexes) is, for ease of reference, set out in—

(a) Part 1 of Schedule 2 in the Irish language, and

(b) Part 2 of Schedule 2 in the English language;

“Intergovernmental Agreement” means the Agreement amending the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 27 January 2021 and on 8 February 2021, the text of which is, for ease of reference, set out in—

(a) Part 1 of Schedule 3 in the Irish language, and

(b) Part 2 of Schedule 3 in the English language;

“Minister” means the Minister for Finance.

Approval of terms of Amending Agreement

2. The terms of the Amending Agreement are hereby approved.

Amendment of Act of 2012

3. The Act of 2012 is amended—

(a) in section 1, by the substitution of the following definition for the definition of “Treaty”:

“ ‘Treaty’ means the Treaty establishing the European Stability Mechanism done at Brussels on 2 February 2012 between the Euro Area Member States of the European Union as adapted in consequence of the accession of the Republic of Latvia to it on 13 March 2014 and as further adapted in consequence of the accession of the Republic of Lithuania to it on 3 February 2015, as amended by the Agreement amending the Treaty establishing the European Stability Mechanism done at Brussels on 27 January 2021 and on 8 February 2021 between the Euro Area Member States of the European Union.”,

and

(b) in section 3, by the substitution of “€11,119,500,000” for “€11,145,400,000”.

Amendment of Act of 2014

4. Section 1(1) of the Act of 2014 is amended by the substitution of the following definition for the definition of “Treaty”:

“‘Treaty’ has the meaning given to it by section 1 (amended by section 3 (a) of the Finance (European Stability Mechanism and Single Resolution Fund) Act 2021) of the Principal Act.”.

Approval of terms of Intergovernmental Agreement

5. (1) The terms of the Intergovernmental Agreement are hereby approved.

(2) The Minister shall, as soon as may be after the date from which the Intergovernmental Agreement applies in accordance with Article 5(2) of that Agreement, cause notice of the coming into operation of section 6 on that date to be published—

(a) in Iris OifigiĂșil, and

(b) on a website maintained by or on behalf of the Minister or the Government.

Amendment of Act of 2015

6. Section 3(1) of the Act of 2015 is amended by the substitution of the following definition for the definition of “Agreement”:

“‘Agreement’ means the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 21 May 2014 as amended by the Agreement amending the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 27 January 2021 and on 8 February 2021;”.

Expenses

7. Any expenses incurred by the Minister in the administration of this Act shall be paid out of moneys provided by the Oireachtas.

Short title, commencement, collective citation and construction

8. (1) This Act may be cited as the Finance (European Stability Mechanism and Single Resolution Fund) Act 2021.

(2) Section 6 shall come into operation on the date from which the Intergovernmental Agreement applies in accordance with Article 5(2) of that Agreement.

(3) The European Stability Mechanism Acts 2012 and 2014 and sections 2 , 3 and 4 may be cited together as the European Stability Mechanism Acts 2012 to 2021 and shall be read together as one.

SCHEDULE 1

PART 1

Text of Amending Agreement in the Irish Language

COMHAONTÚ

LENA LEASAĂ?TEAR AN CONRADH

LENA mBUNAĂ?TEAR AN SĂ?SRA COBHSAĂ?OCHTA EORPACH

IDIR RĂ?OCHT NA BEILGE, POBLACHT CHÓNAIDHME NA GEARMĂ?INE,

POBLACHT NA hEASTÓINE, ÉIRE, AN PHOBLACHT HEILLÉANACH,

RĂ?OCHT NA SPĂ?INNE, POBLACHT NA FRAINCE,

POBLACHT NA hIODĂ?ILE, POBLACHT NA CIPIRE, POBLACHT NA LAITVIA,

POBLACHT NA LIOTUĂ?INE, ARD-DIÚCACHT LUCSAMBURG, POBLACHT

MHĂ?LTA, RĂ?OCHT NA hĂ?SILTĂ?RE, POBLACHT NA hOSTAIRE,

POBLACHT NA PORTAINGÉILE, POBLACHT NA SLÓIVÉINE,

POBLACHT NA SLÓVAICE AGUS POBLACHT NA FIONLAINNE

BROLLACH

TĂ? NA PĂ?IRTITHE CONARTHACHA, RĂ­ocht na Beilge, Poblacht ChĂłnaidhme na GearmĂĄine, Poblacht na hEastĂłine, Éire, an Phoblacht HeillĂ©anach, RĂ­ocht na SpĂĄinne, Poblacht na Fraince, Poblacht na hIodĂĄile, Poblacht na Cipire, Poblacht na Laitvia, Poblacht na LiotuĂĄine, Ard-DiĂșcacht Lucsamburg, Poblacht MhĂĄlta, RĂ­ocht na hĂ?siltĂ­re, Poblacht na hOstaire, Poblacht na PortaingĂ©ile, Poblacht na SlĂłivĂ©ine, Poblacht na SlĂłvaice agus Poblacht na Fionlainne (“BallstĂĄit an limistĂ©ir euro” nĂł na “SĂ­nitheoirĂ­”);

AG AITHINT DÓIBH an comhaontĂș chun cistiĂș a shlĂłgadh agus maoiniĂș a chur ar fĂĄil faoin gcĂșlstop chun crĂ­ocha ĂșsĂĄid an Chiste RĂ©itigh Aonair (“CRA”), atĂĄ faoi ĂșinĂ©ireacht an Bhoird RĂ©itigh Aonair (“BRA”) a bunaĂ­odh i gcomhrĂ©ir le RialachĂĄn (AE) Uimh. 806/2014 Ăł Pharlaimint na hEorpa agus Ăłn gComhairle an 15 IĂșil 2014 lena mbunaĂ­tear rialacha aonfhoirmeacha agus nĂłs imeachta aonfhoirmeach maidir le rĂ©iteach institiĂșidĂ­ creidmheasa agus gnĂłlachtaĂ­ infheistĂ­ochta ĂĄirithe faoi chuimsiĂș SĂĄsra RĂ©itigh Aonair agus Ciste RĂ©itigh Aonair agus lena leasaĂ­tear RialachĂĄn (AE) Uimh. 1093/20101 ;

AG AITHINT DÓIBH phrĂ­omhrĂłl an tSĂĄsra CobhsaĂ­ochta Eorpaigh (“SCE”) sa bhainistiĂș gĂ©archĂ©ime, rĂłl a fheidhmĂ­onn sĂ© trĂ­ thacaĂ­ocht chobhsaĂ­ochta a chur ar fĂĄil go trĂĄthĂșil agus go hĂ©ifeachtach do BhallstĂĄit an limistĂ©ir euro;

TAR ÉIS DÓIBH TEACHT AR CHOMHAONTÚ maidir le pacĂĄiste cuimsitheach chun an tAontas EacnamaĂ­och agus AirgeadaĂ­ochta a neartĂș tuilleadh;

AGUS É MAR AIDHM ACU an SĂĄsra CobhsaĂ­ochta Eorpach a fhorbairt tuilleadh chun athlĂ©imneacht agus acmhainnĂ­ rĂ©itigh gĂ©archĂ©ime an limistĂ©ir euro a neartĂș, agus leanĂșint de dhlĂ­ an Aontais Eorpaigh a lĂĄnurramĂș lena linn sin;

AG CUIMHNEAMH DÓIBH gur dhearbhaigh CeannairĂ­ StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu, ag CruinniĂș Mullaigh Euro an 29 Meitheamh 2018 a tionĂłladh i bhformĂĄid chuimsitheach, go gcuirfeadh SCE an cĂșlstop coiteann ar fĂĄil do CRA agus go neartĂłfaĂ­ Ă© ar bhonn na n-eilimintĂ­ a leagtar amach i litir UachtarĂĄn an GhrĂșpa Euro dar dĂĄta an 25 Meitheamh 2018;

AG CUIMHNEAMH DÓIBH FREISIN gur fhormhuinigh CeannairĂ­ StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu, ag CruinniĂș Mullaigh Euro an 14 Nollaig 2018 a tionĂłladh i bhformĂĄid chuimsitheach, le tĂ©armaĂ­ tagartha an chĂșlstop choitinn sin maille le bileog tĂ©armaĂ­ maidir le hathchĂłiriĂș SCE, agus gur thug CeannairĂ­ StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu, ag CruinniĂș Mullaigh Euro an 21 Meitheamh 2019 a tionĂłladh i bhformĂĄid chuimsitheach, dĂĄ n-aire an comhaontĂș leathan ar thĂĄngthas air maidir le leasĂș an Chonartha lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach,

TAR ÉIS COMHAONTÚ mar a leanas:

AIRTEAGAL 1

Leasuithe ar an gConradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach

LeasaĂ­tear an Conradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach mar a leanas:

A. LeasaĂ­tear an brollach mar a leanas:

(1) Cuirtear an méid seo a leanas in ionad aithris (4):

“(4) Is Ă© an chĂ©ad bheart cosanta ba cheart a bheith ann fĂłs i gcoinne gĂ©archĂ©imeanna muinĂ­ne a dhĂ©anfadh difear do chobhsaĂ­ocht an limistĂ©ir euro, urramĂș docht chreat dlĂ­ an Aontais Eorpaigh, urramĂș docht an chreata chomhthĂĄite um fhaireachas buisĂ©adach agus maicreacnamaĂ­och, go hĂĄirithe an ComhshocrĂș CobhsaĂ­ochta agus FĂĄis, urramĂș docht an chreata um mĂ­chothromaĂ­ochtaĂ­ maicreacnamaĂ­ocha agus na rialacha maidir le rialachas eacnamaĂ­och an Aontais Eorpaigh.”.

(2) Cuirtear isteach na haithrisĂ­ seo a leanas:

“(5a) Ag CruinniĂș Mullaigh Euro an 29 Meitheamh 2018 a tionĂłladh i bhformĂĄid chuimsitheach, dhearbhaigh CeannairĂ­ StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu go solĂĄthrĂłdh SCE an cĂșlstop coiteann don Chiste RĂ©itigh Aonair (‘CRA’) agus go neartĂłfaĂ­ Ă© ar bhonn na n-eilimintĂ­ a leagtar amach i litir UachtarĂĄn an GhrĂșpa Euro dar dĂĄta an 25 Meitheamh 2018. Ag CruinniĂș Mullaigh Euro an 14 Nollaig 2018 a tionĂłladh i bhformĂĄid chuimsitheach, d’fhormhuinigh CeannairĂ­ StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu le tĂ©armaĂ­ tagartha an chĂșlstop choitinn sin atĂĄ le cur ar fĂĄil ag SCE, maille le bileog tĂ©armaĂ­ maidir le hathchĂłiriĂș SCE. ForĂĄiltear, sa bhileog tĂ©armaĂ­ maidir le hathchĂłiriĂș SCE, go mbunĂłfar an cĂșlstop coiteann i gcomhair CRA faoi dheireadh na hidirthrĂ©imhse, ar a dhĂ©anaĂ­. ForĂĄiltear freisin, sa bhileog tĂ©armaĂ­ maidir le hathchĂłiriĂș an tSĂĄsra CobhsaĂ­ochta Eorpaigh, go mĂ©adĂłfar Ă©ifeachtacht na n-ionstraimĂ­ cĂșnaimh airgeadais rĂ©amhchĂșraim i gcomhair ComhaltaĂ­ de SCE a bhfuil bunstaid a ngeilleagair ar fĂłnamh, a bhfĂ©adfadh turraing dhĂ­obhĂĄlach a bheadh thar a smacht difear a dhĂ©anamh dĂłibh. I gcomhrĂ©ir leis an gcomhsheasamh maidir leis an gcomhar sa todhchaĂ­ idir an CoimisiĂșn Eorpach agus SCE, atĂĄ mar iarscrĂ­bhinn a ghabhann leis an mbileog tĂ©armaĂ­ maidir le hathchĂłiriĂș SCE maidir leis an measĂșnĂș inchĂĄilitheachta faoin lĂ­ne chreidmheasa rĂ©amhchĂșraim, ag brath ar raon beacht na gcritĂ©ar inchĂĄilitheachta, gabhfaidh an CoimisiĂșn Eorpach agus SCE orthu a rĂłil fĂ©in faoi seach i gcomhrĂ©ir le dlĂ­ an Aontais Eorpaigh, leis an gConradh seo agus le treoirlĂ­nte SCE. ForĂĄiltear freisin, sa bhileog tĂ©armaĂ­ maidir le hathchĂłiriĂș SCE, go gcuirfear corrlach breise i bhfeidhm i gcĂĄs nach ndĂ©anfadh Comhalta de SCE, ar deonaĂ­odh cĂșnamh airgeadais rĂ©amhchĂșraim SCE dĂł, an choinnĂ­ollacht a ghabhann leis an gcĂșnamh sin a chomhlĂ­onadh tar Ă©is dĂł cistĂ­ a tharraingt, ach amhĂĄin i gcĂĄs inarb Ă© is cĂșis leis an neamh-chomhlĂ­onadh sin imthosca a bhĂ­ thar smacht an rialtais. Thairis sin, sa bhileog tĂ©armaĂ­ maidir le hathchĂłiriĂș SCE, daingnĂ­tear go bhfuil an choinnĂ­ollacht fĂłs ina prionsabal bunĂșsach de chuid an Chonartha seo agus de chuid ionstraimĂ­ uile SCE, ach go gcaithfear na tĂ©armaĂ­ beachta a chur in oiriĂșint do gach ionstraim ar leith.

(5b) Sa chomhsheasamh maidir leis an gcomhar sa todhchaĂ­ idir SCE agus an CoimisiĂșn Eorpach, leagtar amach an comhaontĂș maidir le mĂłdĂșlachtaĂ­ nua an chomhair laistigh de chlĂĄir chĂșnaimh airgeadais agus lasmuigh dĂ­obh. TĂĄ cuspĂłirĂ­ comhchoiteanna ag an gCoimisiĂșn Eorpach agus ag SCE agus feidhmeoidh siad cĂșraimĂ­ sonracha a bhaineann leis an mbainistiĂș gĂ©archĂ©ime ar son an limistĂ©ir euro ar bhonn dhlĂ­ an Aontais Eorpaigh agus an Chonartha seo. DĂĄ bhrĂ­ sin, oibreoidh an dĂĄ institiĂșid go dlĂșth le chĂ©ile ar bhearta bainistithe gĂ©archĂ©ime SCE lena ngabhfaidh rialachas Ă©ifeachtĂșil a shaothrĂłidh an chobhsaĂ­ocht airgeadais trĂ­ shaineolas a chĂ©ile a chomhlĂĄnĂș. Ă?irithĂ­onn an CoimisiĂșn Eorpach an chomhsheasmhacht le dlĂ­ an Aontais Eorpaigh, go hĂĄirithe leis an gcreat um chomhordĂș an bheartais eacnamaĂ­och. DĂ©anann SCE a chuid anailĂ­se agus measĂșnaithe trĂ­ pheirspictĂ­ocht iasachtĂłra. DĂ©anfar an comhsheasamh maidir leis an gcomhar sa todhchaĂ­ a ionchorprĂș go hiomlĂĄn i meabhrĂĄn comhair, mar a leagtar amach in Airteagal 13(8), nuair a thiocfaidh na leasuithe ar an gConradh seo i bhfeidhm.”.

(3) In aithris (7), cuirtear an abairt seo a leanas léi:

“Tugann ComhaltaĂ­ SCE aitheantas don idirphlĂ© atĂĄ ar siĂșl idir an StiĂșrthĂłir BainistĂ­ochta agus Parlaimint na hEorpa.”.

(4) In aithris (8), cuirtear an mĂ©id seo a leanas in ionad an trĂ­Ăș habairt:

“Maidir le haon BhallstĂĄt den limistĂ©ar euro a iarrfaidh cĂșnamh airgeadais ar SCE, beifear ag sĂșil go ndĂ©anfaidh sĂ©, i ngach cĂĄs inarb iomchuĂ­, iarraidh chomhchosĂșil a dhĂ­riĂș chuig CAI.”.

(5) Cuirtear isteach an aithris seo a leanas:

“(9a) BallstĂĄit den Aontas Eorpach nach bhfuil an euro mar airgeadra acu agus a bhfuil dlĂșthchomhar bunaithe acu leis an mBanc Ceannais Eorpach (‘BCE’) i gcomhrĂ©ir le RialachĂĄn (AE) Uimh. 1024/2013 Ăłn gComhairle an 15 Deireadh FĂłmhair 2013 lena dtugtar cĂșraimĂ­ sonracha don Bhanc Ceannais Eorpach maidir le beartais a bhaineann le maoirseacht stuamachta ar institiĂșidĂ­ creidmheasa2 , beifear ag sĂșil go gcuirfidh siad lĂ­nte creidmheasa comhthreomhara ar fĂĄil, i gcomhar le SCE, i gcomhair CRA. Beidh na BallstĂĄit sin rannphĂĄirteach, ar thĂ©armaĂ­ coibhĂ©iseacha, sa chĂșlstop coiteann (‘BallstĂĄit RannphĂĄirteacha’). Ba cheart a iarraidh ar ionadaithe na mBallstĂĄt RannphĂĄirteach freastal, i gcĂĄil breathnĂłirĂ­, ar chruinnithe den Bhord RialtĂłirĂ­ agus den Bhord StiĂșrthĂłirĂ­ ina bplĂ©ifear ĂĄbhair a bhaineann leis an gcĂșlstop coiteann agus ba cheart an rochtain ar fhaisnĂ©is a bheidh acu sin agus ag ionadaithe eile a bheith comhionann. Ba cheart socruithe iomchuĂ­ a chur ar bun i gcomhair comhroinnt faisnĂ©ise agus comhordĂș trĂĄthĂșil idir SCE agus na BallstĂĄit RannphĂĄirteacha. Ba cheart Ă© a bheith indĂ©anta a iarraidh ar ionadaithe de chuid an Bhoird RĂ©itigh Aonair (‘BRA’) freastal, i gcĂĄil breathnĂłirĂ­, ar bhonn ad hoc, ar chruinnithe den Bhord RialtĂłirĂ­ agus den Bhord StiĂșrthĂłirĂ­ ina bplĂ©ifear an maoiniĂș faoin gcĂșlstop.”.

(6) Cuirtear an méid seo a leanas in ionad aithris (10):

“(10) An 20 Meitheamh 2011, thug ionadaithe Rialtais BhallstĂĄit an Aontais Eorpaigh ĂșdarĂș do na PĂĄirtithe Conarthacha sa Chonradh seo a iarraidh ar an gCoimisiĂșn Eorpach agus ar BCE na cĂșraimĂ­ dĂĄ bhforĂĄiltear sa Chonradh seo a chomhlĂ­onadh. AdmhaĂ­tear nach bhfuil san ĂĄireamh, sna dualgais a thugtar don ChoimisiĂșn Eorpach agus do BCE leis an gConradh seo, aon chumhachtaĂ­ chun cinntĂ­ dĂĄ gcuid fĂ©in a dhĂ©anamh agus gur ar SCE agus air sin amhĂĄin a chuirfear ceangal leis na cĂșraimĂ­ a fhorghnĂ­omhĂș an dĂĄ institiĂșid sin ar bhonn an Chonartha seo.”.

(7) In aithris (11), cuirtear na habairtí seo a leanas léi:

“Tar Ă©is thabhairt isteach na CCGanna sin amhail Ăłn 1 EanĂĄir 2013, tĂĄ ComhaltaĂ­ SCE tiomanta do CCGanna a thabhairt isteach lena ndĂ©anfar forĂĄil le haghaidh vĂłtĂĄil chomhiomlĂĄn uile-shraitheach (‘CCGanna uile-shraitheachta’) faoi 2022. DĂ©anfar na mĂłdĂșlachtaĂ­ dlĂ­ mionsonraithe a chomhaontĂș laistigh den Choiste EacnamaĂ­och agus Airgeadais, agus lena linn sin tabharfar ceanglais bhunreachtĂșla nĂĄisiĂșnta san ĂĄireamh, chun go gcuirfidh ComhaltaĂ­ uile SCE na CCGanna uile-shraitheachta chun feidhme i leith urrĂșis rialtais nua sa limistĂ©ar euro ar dhĂłigh a ĂĄiritheoidh gur comhionann a bheidh toradh dlĂ­ na CCGanna sin.”.

(8) Cuirtear isteach na haithrisĂ­ seo a leanas:

“(11a) Arna iarraidh sin do Chomhalta de SCE agus i gcĂĄs inarb iomchuĂ­, fĂ©adfaidh SCE idirphlĂ© a Ă©ascĂș idir an Comhalta sin de SCE agus a infheisteoirĂ­ prĂ­obhĂĄideacha ar bhonn deonach neamhfhoirmiĂșil neamhcheangailteach sealadach rĂșnda.

(11b) Is do ChomhaltaĂ­ de SCE a meastar go bhfuil a bhfiachas inbhuanaithe agus a ndeimhnĂ­tear gurb acmhainn dĂłibh an aisĂ­ocaĂ­ocht le SCE, agus dĂłibhsean amhĂĄin, ba cheart do SCE tacaĂ­ocht chobhsaĂ­ochta a dheonĂș. Is ar bhonn trĂ©dhearcach sothuartha a dhĂ©anfar measĂșnĂș ar inbhuanaitheacht fiachais agus ar acmhainn aisĂ­ocaĂ­ochta, cĂ© gurb amhlaidh, lena linn sin, go mbeidh fairsinge go leor ann le haghaidh an dea-bhreithiĂșnais. Is iad a dhĂ©anfaidh na measĂșnaithe sin an CoimisiĂșn Eorpach i gcuibhreann le BCE, agus SCE agus i ngach cĂĄs inarb iomchuĂ­ agus indĂ©anta in Ă©ineacht le CAI i gcomhrĂ©ir leis an gConradh seo, le dlĂ­ an Aontais Eorpaigh agus leis an meabhrĂĄn comhair arna dhĂ©anamh de bhun Airteagal 13(8). I gcĂĄs nach n-eascraĂ­onn dearcadh comhchoiteann as an gcomhoibriĂș, dĂ©anfaidh an CoimisiĂșn Eorpach measĂșnĂș foriomlĂĄn ar inbhuanaitheacht an fhiachais phoiblĂ­, agus dĂ©anfaidh SCE measĂșnĂș ar acmhainn an Chomhalta de SCE lena mbaineann aisĂ­ocaĂ­ocht a dhĂ©anamh le SCE.”.

(9) Cuirtear an méid seo a leanas in ionad aithris (12):

“(12) I gcĂĄsanna eisceachtĂșla, dĂ©anfar foirm rannphĂĄirtĂ­ochta ag an earnĂĄil phrĂ­obhĂĄideach, ar foirm iomchuĂ­ chomhrĂ©ireach Ă­ atĂĄ i gcomhrĂ©ir le cleachtas CAI, a bhreithniĂș i gcĂĄsanna ina ndeonaĂ­tear tacaĂ­ocht chobhsaĂ­ochta agus coinnĂ­ollacht ag gabhĂĄil lĂ©i i bhfoirm clĂĄr coigeartuithe maicreacnamaĂ­ocha.”.

(10) In aithris (13), cuirtear an abairt seo a leanas léi:

“Beidh stĂĄdas mar chreidiĂșnaĂ­ tosaĂ­ochta ag iasachtaĂ­ cĂșlstop a thabharfaidh SCE do BRA, ar bhealach atĂĄ comhchosĂșil leis an mbealach ina bhfuil an stĂĄdas sin ag iasachtaĂ­ eile a thugann SCE.”.

(11) Cuirtear an méid seo a leanas in ionad aithris 14:

“(14) TacĂłidh BallstĂĄit an limistĂ©ir euro le deonĂș stĂĄdais choibhĂ©isigh mar chreidiĂșnaĂ­ do SCE agus do StĂĄit eile a thabharfaidh iasachtaĂ­ dĂ©thaobhacha i gcomhar le SCE, agus ĂĄireofar air sin Ă© sin a dhĂ©anamh i ndĂĄil le hiasachtaĂ­ cĂșlstop do BRA.”.

(12) Cuirtear isteach na haithrisĂ­ seo a leanas:

“(15a) Leagtar amach le hAirteagal 2(3) den Chonradh ar FheidhmiĂș an Aontais Eorpaigh (‘CFAE’) go ndĂ©anfaidh BallstĂĄit an Aontais Eorpaigh comhordĂș ar a mbeartais eacnamaĂ­ocha laistigh de shocruithe dĂĄ bhforĂĄiltear in CFAE. I gcomhrĂ©ir le hAirteagal 5(1) CFAE agus le hAirteagal 121 CFAE, tĂĄ BallstĂĄit an Aontais Eorpaigh chun comhordĂș a dhĂ©anamh, laistigh de Chomhairle an Aontais Eorpaigh, ar a gcuid beartas eacnamaĂ­och. DĂĄ rĂ©ir sin, nĂ­or cheart feidhm a bheith ag SCE chun crĂ­och comhordaithe beartas eacnamaĂ­och i measc ComhaltaĂ­ de SCE, Ăłir dĂ©antar forĂĄil le dlĂ­ an Aontais Eorpaigh maidir leis na socruithe is gĂĄ chuige sin. UrramaĂ­onn SCE na cumhachtaĂ­ a thugtar, le dlĂ­ an Aontais Eorpaigh, d’institiĂșidĂ­ agus do chomhlachtaĂ­ an Aontais.

(15b) AithnĂ­onn ComhaltaĂ­ SCE go bhfuil cinnteoireacht thapa, Ă©ifeachtĂșil faoi shaorĂĄid an chĂșlstop agus comhordĂș leis na BallstĂĄit RannphĂĄirteacha a ghlacfaidh pĂĄirt, i gcomhar le SCE, i maoiniĂș faoin gcĂșlstop i gcomhair CRA thar a bheith tĂĄbhachtach chun Ă©ifeachtacht an chĂșlstop choitinn agus na rĂ©iteach a mhaoinĂ­tear leis a ĂĄirithiĂș, de rĂ©ir mar a lĂ©irĂ­tear i dtĂ©armaĂ­ tagartha an chĂșlstop choitinn a d’fhormhuinigh CeannairĂ­ StĂĄit agus Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu leis ag CruinniĂș Mullaigh Euro an 14 Nollaig 2018 a tionĂłladh i bhformĂĄid chuimsitheach. ForĂĄiltear, sna tĂ©armaĂ­ tagartha, go n‑áireoidh critĂ©ir i leith eisĂ­ocaĂ­ochtaĂ­ faoin tsaorĂĄid chĂșlstop inter alia prionsabal na rogha deiridh agus prionsabal na neodrachta buisĂ©adaĂ­ ar feadh an mheĂĄntĂ©arma, lĂĄn-chomhlĂ­onadh RialachĂĄn (AE) Uimh. 806/2014 Ăł Pharlaimint na hEorpa agus Ăłn gComhairle an 15 IĂșil 2014 lena mbunaĂ­tear rialacha aonfhoirmeacha agus nĂłs imeachta aonfhoirmeach maidir le rĂ©iteach institiĂșidĂ­ creidmheasa agus gnĂłlachtaĂ­ infheistĂ­ochta ĂĄirithe faoi chuimsiĂș SĂĄsra RĂ©itigh Aonair agus Ciste RĂ©itigh Aonair agus lena leasaĂ­tear RialachĂĄn (AE) Uimh. 1093/20103 (‘SRMR’) agus Threoir 2014/59/AE Ăł Pharlaimint na hEorpa agus Ăłn gComhairle an 15 Bealtaine 2014 lena mbunaĂ­tear creat do thĂ©arnamh agus do rĂ©iteach institiĂșidĂ­ creidmheasa agus gnĂłlachtaĂ­ infheistĂ­ochta agus lena leasaĂ­tear Treoir 82/891/CEE Ăłn gComhairle, agus Treoracha 2001/24/CE, 2002/47/CE, 2004/25/CE, 2005/56/CE, 2007/36/CE, 2011/35/AE, 2012/30/AE agus 2013/36/AE, agus RialachĂĄn (AE) Uimh. 1093/2010, agus RialachĂĄn (AE) Uimh. 648/20124 (‘TTRB’), agus bhuaine an chreata dlĂ­. ForĂĄiltear, sna tĂ©armaĂ­ tagartha, go ndĂ©anfaidh SCE cinneadh maidir le hĂșsĂĄid an chĂșlstop, de ghnĂĄth, laistigh de 12 uair an chloig Ăłn trĂĄth a bhfaighidh BRA an iarraidh, agus beidh an trĂ©imhse sin infhadaithe ag an StiĂșrthĂłir BainistĂ­ochta go dtĂ­ 24 uair an chloig i gcĂĄsanna eisceachtĂșla, go hĂĄirithe i gcĂĄs oibrĂ­ocht rĂ©itigh thar a bheith casta, agus ceanglais bhunreachtĂșla nĂĄisiĂșnta ĂĄ n-urramĂș lena linn sin.”.

(13) Cuirtear an méid seo a leanas in ionad aithris 16:

“(16) AithnĂ­tear leis an gConradh seo neamhspleĂĄchas StiĂșrthĂłir BainistĂ­ochta agus fhoireann SCE. Ba cheart Ă© a fheidhmiĂș ar dhĂłigh, i gcĂĄs inarb ĂĄbhartha agus mar a fhorĂĄiltear sa Chonradh seo, a gcaomhnĂłidh an chomhrĂ©ireacht le dlĂ­ an Aontais Eorpaigh, arb Ă© an CoimisiĂșn Eorpach a dhĂ©anann maoirseacht ar a chur i bhfeidhm.”.

(14) Cuirtear an méid seo a leanas in ionad aithris 17:

“(17) Ba cheart dĂ­ospĂłidĂ­ a eascrĂłidh idir na PĂĄirtithe Conarthacha nĂł idir na PĂĄirtithe Conarthacha agus SCE maidir le lĂ©iriĂș agus cur i bhfeidhm an Chonartha seo a chur faoi bhrĂĄid dhlĂ­nse ChĂșirt BhreithiĂșnais an Aontais Eorpaigh, i gcomhrĂ©ir le hAirteagal 273 CFAE.

(18) Cuirfidh SCE cĂłrais folĂĄirimh chuĂ­ ar bun agus Ă© mar aidhm leo a ĂĄirithiĂș go bhfaighidh sĂ©, ar dhĂłigh thrĂĄthĂșil, aon aisĂ­ocaĂ­ochtaĂ­ a bheidh ag dul dĂł i ndĂĄil le tacaĂ­ocht chobhsaĂ­ochta nĂł i ndĂĄil leis an tsaorĂĄid chĂșlstop. DĂ©anfaidh an CoimisiĂșn Eorpach, i gcuibhreann le BCE, agus Comhairle an Aontais Eorpaigh faireachas iarchlĂĄir faoi chuimsiĂș an chreata a leagtar sĂ­os de bhun Airteagail 121 agus 136 CFAE,”.

B. LeasaĂ­tear na hAirteagail mar a leanas:

(15) Cuirtear an méid seo a leanas in ionad Airteagal 3:

“AIRTEAGAL 3

CuspĂłirĂ­

1. Is Ă© is cuspĂłir do SCE cistiĂș a shlĂłgadh agus tacaĂ­ocht chobhsaĂ­ochta a sholĂĄthar, faoi choinnĂ­ollacht dhocht, a bheidh cuĂ­ don ionstraim cĂșnaimh airgeadais a roghnĂłfar, chun leasa ComhaltaĂ­ de SCE a bhfuil deacrachtaĂ­ mĂłra maoinithe acu nĂł a bhfuil deacrachtaĂ­ mĂłra maoinithe ag bagairt orthu, mĂĄ tĂĄ na nithe sin fĂ­or-riachtanach chun cobhsaĂ­ocht airgeadais an limistĂ©ir euro ina iomlĂĄine agus a BhallstĂĄt a choimirciĂș. I gcĂĄs inarb ĂĄbhartha chun Ă© fĂ©in a ullmhĂș go hinmheĂĄnach agus Ă© a bheith ar a chumas, ar dhĂłigh chuĂ­ thrĂĄthĂșil, tabhairt faoi na cĂșramaĂ­ a thugtar dĂł leis an gconradh seo, fĂ©adfaidh SCE sĂșil a choinneĂĄil ar staid mhaicreacnamaĂ­och agus airgeadais a ChomhaltaĂ­, agus measĂșnĂș a dhĂ©anamh orthu, lena n-ĂĄirĂ­tear inbhuanaitheacht a bhfiachais phoiblĂ­, agus fĂ©adfaidh sĂ© anailĂ­s a dhĂ©anamh ar fhaisnĂ©is agus ar shonraĂ­ ĂĄbhartha. Chun na crĂ­che sin, oibreoidh an StiĂșrthĂłir BainistĂ­ochta i gcomhar leis an gCoimisiĂșn Eorpach agus le BCE chun a ĂĄirithiĂș go mbeidh lĂĄn-chomhsheasmhacht ann leis an gcreat um chomhordĂș an bheartais eacnamaĂ­och dĂĄ bhforĂĄiltear in CFAE.

2. FĂ©adfaidh SCE an tsaorĂĄid chĂșlstop a sholĂĄthair do BRA i gcomhair CRA chun tacĂș le cur i bhfeidhm na n-uirlisĂ­ rĂ©itigh agus le feidhmiĂș chumhachtaĂ­ rĂ©itigh BRA mar a chumhdaĂ­tear i ndlĂ­ an Aontais Eorpaigh.

3. Chun na gcrĂ­och sin, beidh SCE i dteideal cistĂ­ a thiomsĂș trĂ­ ionstraimĂ­ airgeadais a eisiĂșint nĂł trĂ­ theacht ar chomhaontuithe nĂł ar shocruithe airgeadais, nĂł ar chomhaontuithe nĂł ar shocruithe eile, le ComhaltaĂ­ de SCE, le hinstitiĂșidĂ­ airgeadais nĂł le trĂ­Ăș pĂĄirtithe eile.

4. Gan dochar do mhĂ­r 1, an choinnĂ­ollacht a chuirfear i bhfeidhm, beidh sĂ­ iomchuĂ­ don ionstraim cĂșnaimh airgeadais a roghnĂłfar, mar a leagtar sĂ­os sa Chonradh seo.”.

(16) In Airteagal 4(4), cuirtear an méid seo a leanas in ionad na chéad abairte:

“De mhaolĂș ar mhĂ­r 3 den Airteagal seo, dĂ©anfar nĂłs imeachta vĂłtĂĄla Ă©igeandĂĄla a ĂșsĂĄid i gcĂĄsanna ina dtagann an CoimisiĂșn Eorpach agus BCE araon ar an tĂĄtal go mbeadh bagairt ann ar inbhuanaitheacht eacnamaĂ­och agus airgeadais an limistĂ©ir euro mĂĄ mhainnĂ­tear cinneadh a ghlacadh go prĂĄinneach chun cĂșnamh airgeadais, arna shainmhĂ­niĂș in Airteagail 13 go 18, a dheonĂș nĂł a chur chun feidhme.”.

(17) LeasaĂ­tear Airteagal 5 mar a leanas:

(a) i mír 4, cuirtear an abairt seo a leanas léi:

“Maidir le hionadaithe BallstĂĄt RannphĂĄirteach a ghlacfaidh pĂĄirt i gcomhar le SCE i maoiniĂș faoin gcĂșlstop i gcomhair CRA, iarrfar orthu sin freisin freastal, i gcĂĄil breathnĂłirĂ­, ar chruinnithe an Bhoird RialtĂłirĂ­ nuair a phlĂ©ifear ĂĄbhair a bhaineann leis an gcĂșlstop coiteann.”;

(b) leasaĂ­tear mĂ­r 6 mar a leanas:

(i) cuirtear an méid seo a leanas in ionad phointe (a):

“(a) an cĂșlchiste Ă©igeandĂĄla a chealĂș agus a bhfuil ann a aistriĂș ar ais chuig an gcĂșlchiste agus/nĂł chuig an gcaipiteal Ă­octha, i gcomhrĂ©ir le hAirteagal 4(4), an fhionraĂ­ ar chur i bhfeidhm na chĂ©ad fhomhĂ­re d’Airteagal 18a(6) a chealĂș, an tromlach vĂłtĂĄla, faoin nĂłs imeachta Ă©igeandĂĄla vĂłtĂĄla, a theastaĂ­onn chun cinneadh a ghlacadh maidir le hiasachtaĂ­, agus na heisĂ­ocaĂ­ochtaĂ­ ina leith, faoin tsaorĂĄid chĂșlstop a athrĂș agus na himthosca ina ndĂ©anfar athbhreithniĂș amach anseo a shocrĂș, i gcomhrĂ©ir leis an trĂ­Ăș fomhĂ­r d’Airteagal 18a(6) ;”;

(ii) cuirtear an méid seo a leanas in ionad phointe (f):

“(f) tacaĂ­ocht chobhsaĂ­ochta Ăł SCE a sholĂĄthar, lena n-ĂĄirĂ­tear an choinnĂ­ollacht i dtaca le beartas eacnamaĂ­och arna lua sa mheabhrĂĄn tuisceana dĂĄ dtagraĂ­tear in Airteagal 13(3) nĂł dĂĄ dtagraĂ­tear in Airteagal 14(2), agus an rogha ionstraimĂ­ agus na tĂ©armaĂ­ agus na coinnĂ­ollacha airgeadais a bhunĂș, i gcomhrĂ©ir le hAirteagail 12 go 18;”;

(iii) cuirtear isteach an pointe seo a leanas:

“(fa) na critĂ©ir inchĂĄilitheachta a athrĂș le haghaidh an chĂșnaimh airgeadais rĂ©amhchĂșraim a leagtar amach in IarscrĂ­bhinn III i gcomhrĂ©ir le hAirteagal 14(1) ;”;

(iv) cuirtear an méid seo a leanas in ionad phointe (g):

“(g) a chur de chĂșram (i) ar an StiĂșrthĂłir BainistĂ­ochta agus (ii) ar an gCoimisiĂșn Eorpach i gcuibhreann le BCE, an choinnĂ­ollacht i dtaca le beartas eacnamaĂ­och a bheidh ag gabhĂĄil le cĂșnamh airgeadais i gcomhrĂ©ir le hAirteagal 13(3), a chaibidliĂș, le chĂ©ile;”;

(v) cuirtear isteach an pointe seo a leanas:

“(ga) saorĂĄid chĂșlstop a dheonĂș, i gcomhrĂ©ir leis an gcĂ©ad fhomhĂ­r d’Airteagal 18a(1), na critĂ©ir i dtaca le formheas iasachtaĂ­ agus eisĂ­ocaĂ­ochtaĂ­ faoin tsaorĂĄid chĂșlstop a leagtar amach in IarscrĂ­bhinn IV i gcomhrĂ©ir leis an dara fomhĂ­r d’Airteagal 18a(1) a athrĂș, aon cheann de heilimintĂ­ a leagtar amach sa trĂ­Ăș fomhĂ­r d’Airteagal 18a(1) a chinneadh, agus cinneadh a dhĂ©anamh maidir le foirceannadh a dhĂ©anamh ar an tsaorĂĄid chĂșlstop sin, nĂł leanĂșint ar aghaidh lĂ©i, i gcomhrĂ©ir le hAirteagail 18a(1) agus (8) ;”;

(vi) cuirtear an méid seo a leanas in ionad phointe (h):

“(h) an beartas praghsĂĄla agus an treoirlĂ­ne praghsĂĄla le haghaidh cĂșnamh airgeadais nĂł saorĂĄid chĂșlstop i gcomhair CRA a athrĂș, i gcomhrĂ©ir le hAirteagal 20;”;

(vii) cuirtear an méid seo a leanas in ionad phointe (j):

“(j) na mĂłdĂșlachtaĂ­ a bhunĂș maidir le haistriĂș na tacaĂ­ochta Ăł SaorCAE go dtĂ­ SCE, lena n-ĂĄirĂ­tear trĂĄinse breise caipitil Ășdaraithe a chruthĂș, i gcomhrĂ©ir le hAirteagal 40;”.

(18) LeasaĂ­tear Airteagal 6 mar a leanas:

(a) i mír 3, cuirtear an abairt seo a leanas léi:

“Maidir le hionadaithe BallstĂĄt RannphĂĄirteach a ghlacfaidh pĂĄirt i gcomhar le SCE i maoiniĂș faoin gcĂșlstop i gcomhair CRA, iarrfar orthu sin freisin freastal, i gcĂĄil breathnĂłirĂ­, ar chruinnithe an Bhoird StiĂșrthĂłirĂ­ nuair a phlĂ©ifear saincheisteanna a bhaineann leis an gcĂșlstop.”;

(b) cuirtear an méid seo a leanas in ionad mhír 4:

“(4) FĂ©adfaidh an Bord StiĂșrthĂłirĂ­ a iarraidh ar dhaoine eile, lena n-ĂĄirĂ­tear ionadaithe de chuid institiĂșidĂ­ nĂł eagraĂ­ochtaĂ­, freastal, i gcĂĄil breathnĂłirĂ­, ar chruinnithe ar bhonn ad hoc.”.

(19) In Airteagal 7(4), cuirtear an abairt seo a leanas leis:

“NĂ­ bheidh StiĂșrthĂłir BainistĂ­ochta nĂĄ foireann SCE freagrach ach do SCE amhĂĄin agus beidh siad neamhspleĂĄch ar fad i gcomhlĂ­onadh a ndualgas.”.

(20) LeasaĂ­tear Airteagal 12 mar a leanas:

(a) cuirtear isteach an mhĂ­r seo a leanas:

“1a. FĂ©adfaidh SCE an tsaorĂĄid chĂșlstop a sholĂĄthar do CRA, gan dochar do dhlĂ­ an Aontais Eorpaigh nĂĄ d’inniĂșlachtaĂ­ institiĂșidĂ­ agus chomhlachtaĂ­ an Aontais Eorpaigh. NĂ­ dheonĂłfar iasachtaĂ­ faoin tsaorĂĄid chĂșlstop ach amhĂĄin mar rogha dheiridh agus nĂ­ dheonĂłfar iad ach a mhĂ©id a bheidh neodracht bhuisĂ©adach ar feadh an mheĂĄntĂ©arma ag baint leis sin.”;

(b) i mír 3, cuirtear an abairt seo a leanas léi:

“Beidh feidhm ag vĂłtĂĄil chomhiomlĂĄn uile-shraitheach i leith na n-urrĂșs rialtais nua uile sa limistĂ©ar euro, lena ngabhfaidh aibĂ­ocht nĂ­os faide nĂĄ bliain amhĂĄin, a eiseofar an 1 EanĂĄir 2022 nĂł dĂĄ Ă©is sin.”;

(c) cuirtear an mhĂ­r seo a leanas leis:

“4. Le linn dĂł na cĂșraimĂ­ a thugtar dĂł sa Chonradh seo a fheidhmiĂș, ĂĄiritheoidh an CoimisiĂșn Eorpach, maidir le haon oibrĂ­ochtaĂ­ cĂșnaimh airgeadais a sholĂĄthrĂłidh SCE faoin gConradh seo, go mbeidh na hoibrĂ­ochtaĂ­ sin, i gcĂĄs inarb ĂĄbhartha, i gcomhrĂ©ir le dlĂ­ an Aontais Eorpaigh, go hĂĄirithe leis na bearta comhordaithe beartais eacnamaĂ­och dĂĄ bhforĂĄiltear in CFAE.”.

(21) LeasaĂ­tear Airteagal 13 mar a leanas:

(a) leasaĂ­tear mĂ­r 1 mar a leanas:

(i) cuirtear an méid seo a leanas in ionad na foclaíochta réamhråití:

“1. FĂ©adfaidh Comhalta de SCE iarraidh ar thacaĂ­ocht chobhsaĂ­ochta a dhĂ­riĂș chuig Cathaoirleach an Bhoird RialtĂłirĂ­. LĂ©ireofar san iarraidh sin an ionstraim nĂł na hionstraimĂ­ cĂșnaimh airgeadais a bheidh le breithniĂș. Ar iarraidh den sĂłrt sin a fhĂĄil, cuirfidh Cathaoirleach an Bhoird RialtĂłirĂ­ de, (i) ar an StiĂșrthĂłir BainistĂ­ochta agus (ii) ar an gCoimisiĂșn Eorpach i gcuibhreann le BCE, na cĂșraimĂ­ seo a leanas a chur i gcrĂ­ch in Ă©ineacht le chĂ©ile:”;

(ii) cuirtear an méid seo a leanas in ionad phointe (b);

“(b) measĂșnĂș a dhĂ©anamh i dtaobh an bhfuil an fiachas poiblĂ­ inbhuanaithe agus i dtaobh an fĂ©idir an tacaĂ­ocht chobhsaĂ­ochta a aisĂ­oc. DĂ©anfar an measĂșnĂș sin ar dhĂłigh thrĂ©dhearcach shothuartha, cĂ© gurb amhlaidh, lena linn sin, go mbeidh fairsinge go leor ann le haghaidh an dea-bhreithiĂșnais. Aon uair is iomchuĂ­ agus is fĂ©idir, nĂ­ folĂĄir measĂșnĂș den sĂłrt sin a dhĂ©anamh in Ă©ineacht le CAI;”;

(b) cuirtear an méid seo a leanas in ionad mhír 2:

“2. Ar bhonn iarraidh an Chomhalta de SCE agus na measĂșnuithe dĂĄ dtagraĂ­tear i mĂ­r 1 den Airteagal seo, agus mholadh an StiĂșrthĂłra BainistĂ­ochta a bheidh bunaithe ar na measĂșnuithe sin agus, i gcĂĄs inarb infheidhme, na measĂșnuithe dearfacha dĂĄ dtagraĂ­tear in Airteagal 14(1) agus (2), fĂ©adfaidh an Bord RialtĂłirĂ­ cinneadh a dhĂ©anamh tacaĂ­ocht chobhsaĂ­ochta a dheonĂș, i bprionsabal, don Chomhalta de SCE lena mbaineann, i bhfoirm saorĂĄid cĂșnaimh airgeadais.”;

(c) i mír 3, cuirtear an méid seo a leanas in ionad na chéad fhomhíre:

“3. MĂĄ ghlactar cinneadh de bhun mhĂ­r 2 cĂ© is moite de chinneadh i leith lĂ­ne chreidmheasa faoi choinnĂ­oll rĂ©amhchĂșraim, cuirfidh an Bord RialtĂłirĂ­ de chĂșram (i) ar an StiĂșrthĂłir BainistĂ­ochta agus (ii) ar an gCoimisiĂșn Eorpach i gcuibhreann le BCE, in Ă©ineacht le chĂ©ile agus, i ngach cĂĄs inar fĂ©idir, in Ă©ineacht le CAI, freisin an cĂșram dul i mbun caibidlĂ­ochta leis an gComhalta de SCE lena mbaineann maidir le meabhrĂĄn tuisceana (‘MT’) ina ndĂ©anfar mionsonrĂș ar an gcoinnĂ­ollacht a bheidh ag gabhĂĄil leis an tsaorĂĄid cĂșnaimh airgeadais. Beidh inneachar an MT ag freagairt do dhĂ©ine na laigĂ­ a bhfuil aghaidh le tabhairt orthu agus don ionstraim cĂșnaimh airgeadais atĂĄ roghnaithe. UllmhĂłidh an StiĂșrthĂłir BainistĂ­ochta togra le haghaidh comhaontĂș um shaorĂĄid cĂșnaimh airgeadais, lena n-ĂĄireofar na tĂ©armaĂ­ agus na coinnĂ­ollacha airgeadais, agus an rogha ionstraimĂ­, a bheidh le glacadh ag an mBord RialtĂłirĂ­.”;

(d) cuirtear an méid seo a leanas in ionad mhír 4:

“4. SĂ­neoidh an CoimisiĂșn Eorpach agus an StiĂșrthĂłir BainistĂ­ochta an MT thar ceann SCE, ach sin faoi rĂ©ir na coinnĂ­ollacha a leagtar amach i mĂ­r 3 a chomhlĂ­onadh roimh rĂ© agus faoi rĂ©ir a fhormheasa ag an mBord RialtĂłirĂ­.”;

(e) cuirtear an méid seo a leanas in ionad mhír 7:

“7. Beidh sĂ© de chĂșram (i) ar an StiĂșrthĂłir BainistĂ­ochta agus (ii) ar an gCoimisiĂșn Eorpach i gcuibhreann le BCE, in Ă©ineacht le chĂ©ile agus, i ngach cĂĄs inar fĂ©idir, in Ă©ineacht le CAI freisin, faireachĂĄn a dhĂ©anamh ar chomhlĂ­onadh na coinnĂ­ollachta a bheidh ag gabhĂĄil leis an tsaorĂĄid cĂșnaimh airgeadais.”;

(f) cuirtear an mhĂ­r seo a leanas leis:

“8. Faoi rĂ©ir formheas an Bhoird StiĂșrthĂłirĂ­ a bheith faighte aige roimh rĂ© de thoil a chĂ©ile, fĂ©adfaidh SCE dul faoi chuing meabhrĂĄn comhair a dhĂ©anamh leis an gCoimisiĂșn Eorpach, meabhrĂĄn tuisceana lena ndĂ©anfar mionsonrĂș ar an gcomhar idir an StiĂșrthĂłir BainistĂ­ochta agus an CoimisiĂșn Eorpach i ndĂĄil le comhlĂ­onadh na gcĂșraimĂ­ a leagtar orthu de bhun mhĂ­reanna 1, 3 agus 7 den Airteagal seo, agus dĂĄ dtagraĂ­tear in Airteagal 3(1).”.

(22) Cuirtear an méid seo a leanas in ionad Airteagal 14:

“AIRTEAGAL 1

CĂșnamh airgeadais rĂ©amhchĂșraim SCE

1. TrĂ­ ionstraimĂ­ cĂșnaimh airgeadais rĂ©amhchĂșraim SCE, dĂ©antar tacaĂ­ocht airgeadais a sholĂĄthar do ChomhaltaĂ­ de SCE a bhfuil bunstaid a ngeilleagair ar fĂłnamh agus a bhfĂ©adfaĂ­ difear a dhĂ©anamh dĂłibh de dheasca turraing dhĂ­obhĂĄlach a bheadh thar a smacht. FĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh cĂșnamh airgeadais rĂ©amhchĂșraim a dheonĂș do Chomhalta de SCE, a bhfuil a fhiachas rialtais inbhuanaithe, i bhfoirm lĂ­ne chreidmheasa faoi choinnĂ­oll rĂ©amhchĂșraim nĂł i bhfoirm lĂ­ne chreidmheasa faoi choinnĂ­ollacha breisithe i gcomhrĂ©ir le hAirteagal 12(1), ach sin faoi rĂ©ir critĂ©ir inchĂĄilitheachta a chomhlĂ­onadh ar critĂ©ir iad a chuirfear i bhfeidhm maidir le gach cineĂĄl cĂșnaimh den sĂłrt sin mar a fhorĂĄiltear in IarscrĂ­bhinn III.

FĂ©adfaidh an Bord RialtĂłirĂ­ cinneadh a dhĂ©anamh na critĂ©ir inchĂĄilitheachta le haghaidh an chĂșnaimh airgeadais rĂ©amhchĂșraim SCE a athrĂș agus IarscrĂ­bhinn III a leasĂș dĂĄ rĂ©ir sin. Tiocfaidh an leasĂș sin i bhfeidhm tar Ă©is do ChomhaltaĂ­ SCE fĂłgra a thabhairt don TaiscĂ­ ĂĄ rĂĄ go bhfuil a nĂłsanna imeachta nĂĄisiĂșnta is infheidhme tugtha i gcrĂ­ch.

2. Cuimseoidh an choinnĂ­ollacht a ghabhfaidh le lĂ­ne chreidmheasa faoi choinnĂ­oll rĂ©amhchĂșraim, urramĂș leanĂșnach na gcritĂ©ar inchĂĄilitheachta dĂĄ bhforĂĄiltear in IarscrĂ­bhinn III agus tabharfaidh an Comhalta de SCE lena mbaineann gealltanas tiomantais ina leith ina iarraidh shĂ­nithe de bhun Airteagal 13(1) ar iarraidh Ă­ ina dtarraingeoidh sĂ© aird ar an intinn atĂĄ aige faoina phrĂ­omhbheartais (‘Litir Intinne’).Tar Ă©is dĂł Litir Intinne den sĂłrt sin a fhĂĄil, cuirfidh Cathaoirleach an Bhoird RialtĂłirĂ­ de chĂșram ar an gCoimisiĂșn Eorpach measĂșnĂș a dhĂ©anamh i dtaobh an bhfuil an intinn bheartais a lĂ©irĂ­tear sa Litir Intinne i lĂĄnchomhrĂ©ir leis na bearta comhordaithe beartais eacnamaĂ­och dĂĄ bhforĂĄiltear in CFAE, go hĂĄirithe an bhfuil siad i lĂĄnchomhrĂ©ir le haon ghnĂ­omh de chuid dhlĂ­ an Aontais Eorpaigh, lena n-ĂĄirĂ­tear aon tuairim, aon fholĂĄireamh, aon mholadh nĂł aon chinneadh a dhĂ­reofar chuig an gComhalta de SCE lena mbaineann. De mhaolĂș ar Airteagal 13(3) agus (4), nĂ­ dhĂ©anfar aon MT a chaibidliĂș.

3. An choinnĂ­ollacht a ghabhfaidh leis an lĂ­ne chreidmheasa faoi choinnĂ­ollacha breisithe, dĂ©anfar mionsonrĂș uirthi san MT, i gcomhrĂ©ir le hAirteagal 13(3) agus beidh sĂ­ comhleanĂșnach leis na critĂ©ir inchĂĄilitheachta dĂĄ bhforĂĄiltear in IarscrĂ­bhinn III.

4. DĂ©anfar na tĂ©armaĂ­ agus na coinnĂ­ollacha airgeadais a bhaineann leis an gcĂșnamh airgeadais rĂ©amhchĂșraim Ăł SCE a shonrĂș i gcomhaontĂș um shaorĂĄid cĂșnaimh airgeadais rĂ©amhchĂșraim a bheidh le sĂ­niĂș ag an StiĂșrthĂłir BainistĂ­ochta.

5. Glacfaidh an Bord StiĂșrthĂłirĂ­ na treoirlĂ­nte mionsonraithe maidir leis na mĂłdĂșlachtaĂ­ i dtaca le cur chun feidhme an chĂșnaimh airgeadais rĂ©amhchĂșraim Ăł SCE.

6. DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ tuarascĂĄil a ullmhĂłfar i gcomhrĂ©ir le hAirteagal 13(7) a bhreithniĂș go trĂĄthrialta, is Ă© sin le rĂĄ, gach sĂ© mhĂ­ ar a laghad nĂł tar Ă©is do ChomhaltaĂ­ SCE cistĂ­ a tharraingt den chĂ©ad uair (trĂ­ iasacht nĂł trĂ­ cheannach ar an mbunmhargadh). Maidir le lĂ­ne chreidmheasa faoi choinnĂ­oll rĂ©amhchĂșraim, fĂ­orĂłfar sa tuarascĂĄil go bhfuil na critĂ©ir inchĂĄilitheachta dĂĄ dtagraĂ­tear i mĂ­r 2 den Airteagal seo ĂĄ n-urramĂș go leanĂșnach ach, maidir le lĂ­ne chreidmheasa faoi choinnĂ­ollacha breisithe, fĂ­orĂłfar sa tuarascĂĄil go bhfuil na coinnĂ­ollacha i dtaca le beartais, a shonraĂ­tear san MT, ĂĄ gcomhlĂ­onadh. I gcĂĄs inarb Ă© tĂĄtal na tuarascĂĄla go bhfuil an Comhalta de SCE fĂłs ag urramĂș na gcritĂ©ar inchĂĄilitheachta a ghabhann leis an lĂ­ne chreidmheasa faoi choinnĂ­oll rĂ©amhchĂșraim nĂł ag comhlĂ­onadh na gcoinnĂ­ollachta a ghabhann leis an lĂ­ne chreidmheasa faoi choinnĂ­ollacha breisithe, coimeĂĄdfar an lĂ­ne chreidmheasa mura rud Ă© go n-iarrfaidh an StiĂșrthĂłir BainistĂ­ochta nĂł aon StiĂșrthĂłir eile cinneadh a dhĂ©anamh, de thoil a chĂ©ile, i dtaobh an ceart an lĂ­ne chreidmheasa a choimeĂĄd.

7. MĂĄs Ă© tĂĄtal na tuarascĂĄla sin a ullmhaĂ­odh de bhun mhĂ­r 6 den Airteagal seo nach bhfuil an Comhalta de SCE ag urramĂș a thuilleadh na gcritĂ©ar inchĂĄilitheachta a ghabhann leis an lĂ­ne chreidmheasa faoi choinnĂ­oll rĂ©amhchĂșraim nĂł ag comhlĂ­onadh na coinnĂ­ollachta a ghabhann leis an lĂ­ne chreidmheasa faoi choinnĂ­ollacha breisithe, scoirfear den rochtain ar an lĂ­ne chreidmheasa, mura rud Ă© go gcinnfidh an Bord StiĂșrthĂłirĂ­ de thoil a chĂ©ile an lĂ­ne chreidmheasa a choimeĂĄd. MĂĄs amhlaidh gur tharraing an Comhalta de SCE cistĂ­ cheana, cuirfear corrlach breise i bhfeidhm i gcomhrĂ©ir leis an treoirlĂ­ne praghsĂĄla a ghlacfaidh an Bord RialtĂłirĂ­ de bhun Airteagal 20(2), mura rud Ă© go measfaidh an Bord RialtĂłirĂ­, ar bhonn na tuarascĂĄla, gur de thoradh imthosca a bhĂ­ thar smacht an Chomhalta de SCE a rinneadh an neamhchomhlĂ­onadh. Mura gcoimeĂĄdfar an lĂ­ne chreidmheasa, fĂ©adfar foirm eile cĂșnaimh airgeadais a iarraidh agus a dheonĂș i gcomhrĂ©ir leis na rialacha is infheidhme faoin gConradh seo.”.

(23) In Airteagal 15, cuirtear an méid seo a leanas in ionad mhír 5:

“5. I gcĂĄs inarb infheidhme, dĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, ar fhĂĄil togra dĂł Ăłn StiĂșrthĂłir BainistĂ­ochta agus tar Ă©is tuarascĂĄil a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus Ăłn gCoimisiĂșn Eorpach i gcomhrĂ©ir le hAirteagal 13(7), i dtaobh eisĂ­ocaĂ­ocht na dtrĂĄinsĂ­ den chĂșnamh airgeadais i ndiaidh an chĂ©ad trĂĄinse.”.

(24) In Airteagal 16, cuirtear an méid seo a leanas in ionad mhír 5:

“5. DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, ar fhĂĄil togra dĂł Ăłn StiĂșrthĂłir BainistĂ­ochta agus tar Ă©is tuarascĂĄil a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus Ăłn gCoimisiĂșn Eorpach i gcomhrĂ©ir le hAirteagal 13(7), i dtaobh eisĂ­ocaĂ­ocht thrĂĄinsĂ­ an chĂșnaimh airgeadais i ndiaidh an chĂ©ad trĂĄinse.”.

(25) In Airteagal 17, cuirtear an méid seo a leanas in ionad mhír 5:

“5. Tar Ă©is dĂłibh togra a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus tuarascĂĄil a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus Ăłn gCoimisiĂșn Eorpach i gcomhrĂ©ir le hAirteagal 13(7), dĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, i dtaobh eisĂ­ocaĂ­ocht cĂșnaimh airgeadais le BallstĂĄt is tairbhĂ­ trĂ­ oibrĂ­ochtaĂ­ ar an mbunmhargadh.”.

(26) Cuirtear isteach an t-airteagal seo a leanas:

“AIRTEAGAL 18a

SaorĂĄid chĂșlstop

1. Ar bhonn iarrata ar shaorĂĄid chĂșlstop Ăł BRA agus ar bhonn togra Ăłn StiĂșrthĂłir BainistĂ­ochta, fĂ©adfaidh an Bord RialtĂłirĂ­ cinneadh a dhĂ©anamh saorĂĄid chĂșlstop a dheonĂș do BRA lena gcumhdĂłfaĂ­ gach ĂșsĂĄid ab fhĂ©idir a bhaint as CRA mar a chumhdaĂ­tear i ndlĂ­ an Aontais Eorpaigh, ach sin faoi rĂ©ir coimircĂ­ iomchuĂ­ a bheith ann.

TĂĄ forĂĄil in IarscrĂ­bhinn IV maidir leis na critĂ©ir chun iasachtaĂ­ agus eisĂ­ocaĂ­ochtaĂ­ a fhormheas faoin tsaorĂĄid chĂșlstop. FĂ©adfaidh an Bord RialtĂłirĂ­ cinneadh a dhĂ©anamh na critĂ©ir maidir le formheas iasachtaĂ­ agus eisĂ­ocaĂ­ochtaĂ­ a athrĂș, agus IarscrĂ­bhinn IV a leasĂș dĂĄ rĂ©ir sin. Tiocfaidh an leasĂș sin i bhfeidhm a luaithe a bheidh fĂłgra tugtha ag ComhaltaĂ­ SCE don TaiscĂ­ ĂĄ rĂĄ go bhfuil a nĂłsanna imeachta nĂĄisiĂșnta is infheidhme tugtha i gcrĂ­ch.

Cinnfidh an Bord RialtĂłirĂ­ prĂ­omhthĂ©armaĂ­ agus prĂ­omhchoinnĂ­ollacha airgeadais na saorĂĄide cĂșlstop, an uasteorainn ainmniĂșil agus aon choigeartuithe uirthi sin, forĂĄlacha maidir leis an nĂłs imeachta maidir le fĂ­orĂș chomhlĂ­onadh an choinnĂ­ll i leith bhuaine an chreata dlĂ­ um rĂ©iteach bainc agus maidir leis na hiarmhairtĂ­ a ghabhfaidh leis sin a mhĂ©id a bhaineann leis an tsaorĂĄid chĂșlstop agus lena hĂșsĂĄid, agus freisin na coinnĂ­ollacha ar dĂĄ rĂ©ir a fhĂ©adfaidh an Bord RialtĂłirĂ­ an tsaorĂĄid chĂșlstop a fhoirceannadh agus na coinnĂ­ollacha agus na teorainneacha ama ar dĂĄ rĂ©ir a fhĂ©adfaidh an Bord RialtĂłirĂ­ cinneadh a dhĂ©anamh an tsaorĂĄid chĂșlstop a choimeĂĄd ar siĂșl de bhun mhĂ­r 8.

2. Is i bhfoirm lĂ­ne chreidmheasa imrothlach faoina bhfĂ©adfar iasachtaĂ­ a sholĂĄthar a bheidh an tsaorĂĄid chĂșlstop.

3. SonrĂłfar tĂ©armaĂ­ agus coinnĂ­ollacha airgeadais mionsonraithe na saorĂĄide cĂșlstop i gcomhaontĂș um shaorĂĄid chĂșlstop le BRA, a bheidh le formheas ag an mBord RialtĂłirĂ­ de thoil a chĂ©ile agus le sĂ­niĂș ag an StiĂșrthĂłir BainistĂ­ochta.

4. Glacfaidh an Bord StiĂșrthĂłirĂ­ na treoirlĂ­nte mionsonraithe maidir leis na modĂșlachtaĂ­ lena ndĂ©anfar an tsaorĂĄid chĂșlstop a chur chun feidhme, lena n‑áirĂ­tear treoirlĂ­nte maidir le nĂłsanna imeachta lena n-ĂĄiritheofar glacadh tapa cinntĂ­ de bhun mhĂ­r 5, agus athbhreithneoidh siad na treoirlĂ­nte sin go trĂĄthrialta.

5. Ar bhonn iarrata ar iasacht Ăł BRA, ina mbeidh an fhaisnĂ©is ĂĄbhartha uile agus, ag an am cĂ©anna, urraim ĂĄ tabhairt do cheanglais rĂșndachta reachtaĂ­ocht an Aontais Eorpaigh, ar bhonn togra Ăłn StiĂșrthĂłir BainistĂ­ochta agus ar bhonn measĂșnĂș ar acmhainn aisĂ­ocaĂ­ochta BRA agus, i gcĂĄs inarb ĂĄbhartha, ar bhonn na measĂșnuithe ag an gCoimisiĂșn Eorpach agus ag BCE de bhun mhĂ­r 6, dĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh de thoil a chĂ©ile, agus iad arna dtreorĂș ag na critĂ©ir dĂĄ bhforĂĄiltear in IarscrĂ­bhinn IV, maidir le hiasachtaĂ­ agus le heisĂ­ocaĂ­ochtaĂ­ a ghabhann leo faoin tsaorĂĄid chĂșlstop. FĂ©adfaidh an Bord StiĂșrthĂłirĂ­ cinneadh a dhĂ©anamh de thoil a chĂ©ile na cĂșraimĂ­ dĂĄ bhforĂĄiltear sa mhĂ­r seo a tharmligean don StiĂșrthĂłir BainistĂ­ochta ar feadh trĂ©imhse shonraithe agus maidir le mĂ©id sonraithe, i gcomhrĂ©ir leis na rialacha a shonrĂłfar sna treoirlĂ­nte a ghlacfaidh an Bord StiĂșrthĂłirĂ­.

6. De mhaolĂș ar Airteagal 4(3), ĂșsĂĄidfear nĂłs imeachta vĂłtĂĄla Ă©igeandĂĄla i gcĂĄs ina dtiocfaidh an CoimisiĂșn Eorpach agus BCE ar an tĂĄtal, trĂ­ mheasĂșnuithe ar leithligh, go mbeadh bagairt ann d’inbhuanaitheacht eacnamaĂ­och agus airgeadais an limistĂ©ir euro dĂĄ mainneodh an Bord StiĂșrthĂłirĂ­ cinneadh cinneadh a ghlacadh go prĂĄinneach maidir le hiasachtaĂ­ agus le heisĂ­ocaĂ­ochtaĂ­ a ghabhfaidh leo faoin tsaorĂĄid chĂșlstop de bhun na chĂ©ad abairte de mhĂ­r 5 den Airteagal seo. Is gĂĄ tromlach cĂĄilithe 85% de na vĂłtaĂ­ a caitheadh le go bhfĂ©adfar cinneadh den sĂłrt sin a ghlacadh de thoil a chĂ©ile faoin nĂłs imeachta Ă©igeandĂĄla sin. NĂ­ bheidh feidhm ag an mĂ­r seo mĂĄs rud Ă© go bhfuil, agus fad a bheidh, aon nĂłsanna imeachta fĂłs ar siĂșl a bhaineann le buaine an chreata dlĂ­ um rĂ©iteach bainc de bhun mhĂ­r 8 den Airteagal seo agus le forĂĄlacha gaolmhara arna nglacadh ag an mBord RialtĂłirĂ­.

I gcĂĄs ina n-ĂșsĂĄidtear an nĂłs imeachta Ă©igeandĂĄla dĂĄ dtagraĂ­tear sa chĂ©ad fhomhĂ­r, dĂ©antar aistriĂș chuig cĂșlchiste Ă©igeandĂĄla chun maolĂĄn tiomanta a chruthĂș chun na priacail a eascraĂ­onn as na hiasachtaĂ­ gona n-eisĂ­ocaĂ­ochtaĂ­ a fhormheastar faoin nĂłs imeachta Ă©igeandĂĄla sin a chumhdach. FĂ©adfaidh an Bord StiĂșrthĂłirĂ­ cinneadh a dhĂ©anamh de thoil a chĂ©ile an cĂșlchiste Ă©igeandĂĄla a chealĂș agus a bhfuil ann a aistriĂș ar ais chuig an gcĂșlchiste agus/nĂł chuig an gcaipiteal Ă­octha.

Tar Ă©is an nĂłs imeachta Ă©igeandĂĄla sin a ĂșsĂĄid den dara huair, cuirfear cur i bhfeidhm na chĂ©ad fhomhĂ­re ar fionraĂ­ go dtĂ­ go gcinnfidh an Bord RialtĂłirĂ­ an fhionraĂ­ sin a chealĂș. Agus cinneadh ĂĄ dhĂ©anamh aige an fhionraĂ­ sin a chealĂș, athbhreithneoidh an Bord RialtĂłirĂ­ an tromlach vĂłtĂĄla a theastaĂ­onn is gĂĄ chun cinneadh a ghlacadh faoin nĂłs imeachta rĂ©amhluaite agus socrĂłidh sĂ© na himthosca ina ndĂ©anfar athbhreithniĂș eile trĂĄth Ă©igin is faide anonn, agus fĂ©adfaidh sĂ© cinneadh a dhĂ©anamh an mhĂ­r seo a leasĂș dĂĄ rĂ©ir sin, gan an tairseach vĂłtĂĄla a Ă­sliĂș. Tiocfaidh an leasĂș sin i bhfeidhm a luaithe a bheidh fĂłgra tugtha ag ComhaltaĂ­ SCE don TaiscĂ­ ĂĄ rĂĄ go bhfuil a nĂłsanna imeachta nĂĄisiĂșnta is infheidhme tugtha i gcrĂ­ch.

7. BunĂłidh SCE cĂłras cuĂ­ folĂĄirimh chun a ĂĄirithiĂș go bhfaighfear aon aisĂ­ocaĂ­ochtaĂ­ atĂĄ dlite faoin tsaorĂĄid chĂșlstop ar mhodh trĂĄthĂșil.

8. Maidir leis an tsaorĂĄid chĂșlstop agus lena hĂșsĂĄid faoin Airteagal seo, beidh siad teagmhasach ar chomhlĂ­onadh an choinnĂ­ll maidir le buaine an chreata dlĂ­ um rĂ©iteach bainc. I gcĂĄs nach gcomhlĂ­ontar an coinnĂ­oll maidir le buaine an chreata dlĂ­ um rĂ©iteach bainc, tionscnĂłfar athbhreithniĂș cuimsitheach agus beidh gĂĄ le cinneadh de chuid an Bhoird RialtĂłirĂ­ chun an tsaorĂĄid chĂșlstop a choimeĂĄd ar siĂșl. DĂ©anfaidh an Bord RialtĂłirĂ­, de bhun mhĂ­r 1, forĂĄlacha breise a chinneadh maidir leis an nĂłs imeachta i dtaca le fĂ­orĂș chomhlĂ­onadh an choinnĂ­ll maidir le buaine an chreata dlĂ­ um rĂ©iteach bainc agus maidir leis na hiarmhairtĂ­ a ghabhfaidh leis sin a mhĂ©id a bhaineann leis an tsaorĂĄid chĂșlstop agus lena hĂșsĂĄid.

9. Chun críche mhír 8 den Airteagal seo, cuimseoidh buaine an chreata dlí um réiteach bainc an méid seo a leanas:

(a) buaine, mar a shainĂ­tear in Airteagal 9(1) de ChomhaontĂș Idir-rialtasach an 21 Bealtaine 2014 maidir le haistriĂș agus frithphĂĄirtiĂș rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair (‘CIR’), na rialacha a shainĂ­tear in Airteagal 9(1) de CIR; agus

(b) buaine na bprionsabal agus na rialacha a bhaineann leis an uirlis fortharrthĂĄla agus leis an gcreat maidir le hĂ­oscheanglas le haghaidh cistĂ­ dĂ­lse agus dliteanais inchĂĄilithe a leagtar sĂ­os sa Treoir maidir le TĂ©arnamh agus RĂ©iteach na mBanc, sa RialachĂĄn maidir leis an SĂĄsra RĂ©itigh Aonair agus i RialachĂĄn (AE) Uimh. 575/2013 Ăł Pharlaimint na hEorpa agus Ăłn gComhairle an 26 Meitheamh 2013 maidir le ceanglais stuamachta i gcomhair institiĂșidĂ­ creidmheasa agus gnĂłlachtaĂ­ infheistĂ­ochta agus lena leasaĂ­tear RialachĂĄn (AE) Uimh. 648/2012 5 , a mhĂ©id is ĂĄbhartha na prionsabail agus na rialacha sin i dtaca le hacmhainn airgeadais CRA a chaomhnĂș.

10. Agus an tAirteagal seo ĂĄ chur chun feidhme aige, oibreoidh SCE i ndlĂșthchomhar leis na BallstĂĄit RannphĂĄirteacha a ghlacfaidh pĂĄirt i gcomhar le SCE i maoiniĂș faoin gcĂșlstop i gcomhair CRA.”.

(27) In Airteagal 19, cuirtear an méid seo a leanas in ionad an teidil:

“AthbhreithniĂș agus leasuithe ar liosta na n-ionstraimĂ­ cĂșnaimh airgeadais”.

(28) In Airteagal 20, cuirtear an méid seo a leanas in ionad mhíreanna 1 agus 2:

“1. Le linn dĂł tacaĂ­ocht chobhsaĂ­ochta nĂł maoiniĂș faoin gcĂșlstop a dheonĂș i gcomhair CRA, beidh sĂ© mar aidhm ag SCE a chostais maoinithe agus oibriĂșchĂĄin a chumhdach go hiomlĂĄn agus cuirfidh sĂ© corrlach cuĂ­ san ĂĄireamh.

2. I gcĂĄs gach ionstraime cĂșnaimh airgeadais agus gach maoinithe faoin gcĂșlstop i gcomhair CRA, dĂ©anfar an phraghsĂĄil a mhionsonrĂș i dtreoirlĂ­ne praghsĂĄla, agus glacfaidh an Bord RialtĂłirĂ­ an treoirlĂ­ne sin.”.

(29) In Airteagal 21, cuirtear an méid seo a leanas in ionad mhír 1:

“1. CumhachtĂłfar do SCE iasachtaĂ­ a fhĂĄil ar na margaĂ­ caipitil Ăł bhainc, Ăł institiĂșidĂ­ airgeadais nĂł Ăł dhaoine nĂł Ăł institiĂșidĂ­ eile ar mhaithe lena chuspĂłirĂ­ a chomhlĂ­onadh.”.

(30) In Airteagal 30, cuirtear an méid seo a leanas in ionad mhír 5:

“5. Cuirfidh an Bord RialtĂłirĂ­ an tuarascĂĄil bhliantĂșil ar fĂĄil do pharlaimintĂ­ nĂĄisiĂșnta agus institiĂșidĂ­ uachtaracha iniĂșchĂłireachta ChomhaltaĂ­ SCE, do ChĂșirt IniĂșchĂłirĂ­ na hEorpa agus do Pharlaimint na hEorpa.”.

(31) In Airteagal 37, cuirtear an mhĂ­r seo a leanas leis:

“4. Aon dĂ­ospĂłid idir ComhaltaĂ­ de SCE mar gheall ar chomhlĂ­onadh an choinnĂ­ll maidir le buaine an chreata dlĂ­ um rĂ©iteach bainc a leagtar sĂ­os in Airteagal 18a, fĂ©adfar Ă­ a chur faoi bhrĂĄid ChĂșirt BhreithiĂșnais an Aontais Eorpaigh i gcomhrĂ©ir leis an nĂłs imeachta a chinnfidh an Bord RialtĂłirĂ­ de bhun Airteagal 18a(1) agus (8). An breithiĂșnas a thabharfaidh CĂșirt BhreithiĂșnais an Aontais Eorpaigh, beidh sĂ© ceangailteach ar na pĂĄirtithe sa nĂłs imeachta; feidhmeoidh SCE i gcomhrĂ©ir leis an mbreithiĂșnas sin.”.

(32) In Airteagal 38, cuirtear an méid seo a leanas in ionad na míre aonair atå ann:

“D’fhonn a chuspĂłirĂ­ a chur ar aghaidh, beidh SCE i dteideal comhoibriĂș, faoi chuimsiĂș thĂ©armaĂ­ an Chonartha seo, le CAI, le haon StĂĄt atĂĄ ag solĂĄthar cĂșnamh airgeadais ar bhonn ad hoc do Chomhalta de SCE, le haon BhallstĂĄt de chuid an Aontais Eorpaigh agus le haon eagraĂ­ocht nĂł le haon eintiteas idirnĂĄisiĂșnta ar a bhfuil freagrachtaĂ­ i rĂ©imsĂ­ gaolmhara.”.

(33) In Airteagal 40, cuirtear an mhĂ­r seo a leanas leis:

“4. Gan dochar d’Airteagail 8 go 11 agus 39, fĂ©adfaidh an Bord RialtĂłirĂ­, d’fhonn an t-aistriĂș dĂĄ dtagraĂ­tear i mĂ­r 2 den Airteagal seo a Ă©ascĂș, trĂĄinse breise caipitil Ășdaraithe a chruthĂș, a bheidh le suibscrĂ­obh ag cuid de scairshealbhĂłirĂ­ SaorCAE nĂł ag scairshealbhĂłirĂ­ uile SaorCAE i gcomhrĂ©ir leis an treoir rannĂ­oca a leagtar amach in IarscrĂ­bhinn 2 a ghabhann le Creat-ChomhaontĂș SaorCAE a sĂ­nĂ­odh an 10 Meitheamh 2010 (faoi mar a leasaĂ­odh Ă©). Is Ă©ard a bheidh sa trĂĄinse breise, caipiteal inghlaoite; nĂ­ bheidh aon chearta vĂłtĂĄla aige (fiĂș mĂĄ ghlaoitear caipiteal den sĂłrt sin), agus beidh sĂ© faoi rĂ©ir uasmhĂ©id a fhreagrĂłidh do phrĂ­omhshuim chomhiomlĂĄn neamhĂ­octha na saorĂĄidĂ­ iasachta SaorCAE a aistrĂ­odh arna iolrĂș faoi chĂ©atadĂĄn nach airde nĂĄ 165%. Cinnfidh an Bord RialtĂłirĂ­ modh agus imthosca na nglaonna ar chaipiteal agus na n-Ă­ocaĂ­ochtaĂ­ caipitil faoin trĂĄinse breise.

NĂ­ mhĂ©adĂłidh an t-aistriĂș dĂĄ dtagraĂ­tear i mĂ­r 2 suim dhliteanais SaorCAE agus SCE i gcomparĂĄid leis an gcĂĄs a bheadh ann mura ndĂ©anfaĂ­ an t-aistriĂș sin. TacĂłidh an trĂĄinse breise le haistriĂș iasachtaĂ­ SaorCAE agus laghdĂłfar Ă© i gcomhrĂ©ir le haisĂ­oc na n-iasachtaĂ­ sin.

Tiocfaidh an cinneadh Ăłn mBord RialtĂłirĂ­ faoin gcĂ©ad fhomhĂ­r i bhfeidhm a luaithe a bheidh fĂłgra tugtha ag ComhaltaĂ­ SCE don TaiscĂ­ ĂĄ rĂĄ go bhfuil a nĂłsanna imeachta nĂĄisiĂșnta is infheidhme tugtha i gcrĂ­ch.”.

(34) In Airteagal 45, cuirtear an méid seo a leanas in ionad phointí 1 agus 2:

“1) IarscrĂ­bhinn I: Treoir rannĂ­oca SCE;

2) IarscrĂ­bhinn II: SuibscrĂ­obhanna an stoic chaipitiĂșil Ășdaraithe;

3) IarscrĂ­bhinn III: CritĂ©ir inchĂĄilitheachta le haghaidh cĂșnamh airgeadais rĂ©amhchĂșraim SCE; agus

4) IarscrĂ­bhinn IV: CritĂ©ir le haghaidh formheas iasachtaĂ­ agus eisĂ­ocaĂ­ochtaĂ­ faoin tsaorĂĄid chĂșlstop.”.

(35) Cuirtear an téacs seo a leanas leis mar Iarscríbhinn III:

“IARSCRĂ?BHINN III

CritĂ©ir inchĂĄilitheachta le haghaidh cĂșnamh airgeadais rĂ©amhchĂșraim SCE

1. Is iad na critĂ©ir seo thĂ­os na critĂ©ir inchĂĄilitheachta le haghaidh cĂșnamh airgeadais rĂ©amhchĂșraim SCE agus cinneadh iad ag fĂ©achaint don mhĂ©id seo a leanas:

(a) RĂĄiteas ChruinniĂș Mullaigh Euro an 14 Nollaig 2018 inar formhuinĂ­odh an bhileog tĂ©armaĂ­ maidir le hathchĂłiriĂș SCE, agus a sonraĂ­odh go ndĂ©anfar soilĂ©iriĂș ar chritĂ©ir measĂșnaithe ex ante lena ndĂ©anfaĂ­ measĂșnĂș i dtaca le feidhmĂ­ocht fhĂłnta eacnamaĂ­och agus airgeadais, agus go leanfaidh an ionstraim um lĂ­ne chreidmheasa faoi choinnĂ­ollacha breisithe (‘LCCB’) de bheith ar fĂĄil mar a bhforĂĄiltear i dtreoirlĂ­nte SCE mar atĂĄ; agus

(b) an comhsheasamh maidir leis an gcomhar sa todhchaĂ­ idir an CoimisiĂșn Eorpach agus SCE, ar comhsheasamh Ă© atĂĄ i gceangal leis an mbileog tĂ©armaĂ­ maidir le hathchĂłiriĂș SCE, agus, chomh maith leis sin, maidir leis na rĂłil agus na hinniĂșlachtaĂ­ a bheidh ag institiĂșidĂ­ de rĂ©ir mar a bhforĂĄiltear i gcreat dlĂ­ an Aontais Eorpaigh.

Thairis sin, ag cur san ĂĄireamh gur de bhun Airteagail 13 agus 14 den Chonradh seo a dhĂ©antar de rĂ©ir an nĂłs imeachta maidir le cĂșnamh airgeadais rĂ©amhchĂșraim SCE a dheonĂș, agus ag cur san ĂĄireamh go bhfĂ©adfaidh an Bord RialtĂłirĂ­, de rĂ©ir Airteagal 14(1) den Chonradh seo, cinneadh a dhĂ©anamh cĂșnamh airgeadais rĂ©amhchĂșraim a dheonĂș do Chomhalta de SCE arb inbhuanaithe a fhiachas rialtais, agus go nglacfaidh an Bord StiĂșrthĂłirĂ­ na treoirlĂ­nte mionsonraithe maidir le mĂłdĂșlachtaĂ­ lena ndĂ©anfar cĂșnamh airgeadais rĂ©amhchĂșraim SCE a chur chun feidhme i gcomhrĂ©ir le hAirteagal 14(5) den Chonradh seo,

2. CritĂ©ir inchĂĄilitheachta le haghaidh lĂ­ne creidmheasa faoi choinnĂ­oll rĂ©amhchĂșraim (‘LCCR’) a dheonĂș:

Maidir le rochtain ar LCCR, beidh an rochtain sin bunaithe ar chritĂ©ir inchĂĄilitheachta agus beidh sĂ­ teoranta do ChomhaltaĂ­ de SCE a bhfuil a mbunstaid eacnamaĂ­ocha agus airgeadais lĂĄidir agus a bhfuil a bhfiachas rialtais inbhuanaithe. De ghnĂĄth, is gĂĄ do ChomhaltaĂ­ de SCE tagarmharcanna cainnĂ­ochtĂșla a bhaineann le faireachas AE a shroicheadh agus is gĂĄ dĂłibh coinnĂ­ollacha cĂĄilĂ­ochtĂșla a bhaineann le faireachas AE a chomhlĂ­onadh. Is ar bhonn na gcritĂ©ar seo a leanas a dhĂ©anfar measĂșnĂș i dtaobh an bhfuil Comhalta de SCE, ar tairbhĂ­ ionchasach Ă©, cĂĄilithe chun LCCR a fhĂĄil:

(a) urramĂș na dtagarmharcanna buisĂ©adacha cainnĂ­ochtĂșla. NĂ­ bheidh an Comhalta de SCE faoi rĂ©ir nĂłs imeachta um easnamh iomarcach agus is gĂĄ go mbeadh na trĂ­ thagarmharc seo a leanas sroichte aige sa dĂĄ bhliain roimh an iarraidh ar chĂșnamh airgeadais rĂ©amhchĂșraim:

(i) easnamh rialtais ginearĂĄlta nach mĂł nĂĄ 3% de OTI;

(ii) comhardĂș buisĂ©adach struchtĂșrach rialtais ginearĂĄlta atĂĄ comhionann leis an Ă­os-tagarmharc tĂ­rshonrach* nĂł atĂĄ nĂ­os airde nĂĄ Ă©;

(iii) tagarmharc fiachais a chuimsĂ­onn cĂłimheas fiachais rialtais ghinearĂĄlta-OTI is Ă­sle nĂĄ 60% nĂł laghdĂș sa difreĂĄlach i dtaca le 60% i gcaitheamh an dĂĄ bhliain roimhe sin ag meĂĄnrĂĄta aon fhichiĂș amhĂĄin sa bhliain;

(b) gan aon rĂł-mhĂ­chothromaĂ­ochtaĂ­ a bheith ann. NĂ­or cheart an Comhalta de SCE a bheith aitheanta mar chomhalta ag a bhfuil rĂł-mhĂ­chothromaĂ­ochtaĂ­ faoi fhaireachas AE;

(c) teist maidir le rochtain ar mhargaĂ­ caipitil idirnĂĄisiĂșnta, i gcĂĄs inarb ĂĄbhartha, ar thĂ©armaĂ­ rĂ©asĂșnacha;

(d) staidfiachais sheachtraigh atĂĄ inbhuanaithe; agus

(e) gan aon ghéarleochaileachtaí a bheith ann san earnåil airgeadais, ar leochaileachtaí iad a chuireann cobhsaíocht airgeadais an Chomhalta de SCE i bpriacail.

3. CritĂ©ir inchĂĄilitheachta le haghaidh LCCB a dheonĂș

Beidh rochtain ar LCCB ar fĂĄil do ChomhaltaĂ­ de SCE nach bhfuil inchĂĄilithe le haghaidh LCCR de bharr neamhchomhlĂ­onadh roinnt critĂ©ar inchĂĄilitheachta ach a bhfuil a staid ginearĂĄlta eacnamaĂ­och agus airgeadais lĂĄidir agus a bhfiachas rialtais inbhuanaithe.”.

(36) Cuirtear an téacs seo a leanas leis mar Iarscríbhinn IV:

“IARSCRĂ?BHINN IV

CritĂ©ir le haghaidh formheas iasachtaĂ­ agus eisĂ­ocaĂ­ochtaĂ­ faoin tsaorĂĄid chĂșlstop

1. Is Ă© rud atĂĄ sna critĂ©ir thĂ­osluaite critĂ©ir le haghaidh formheas iasachtaĂ­ agus eisĂ­ocaĂ­ochtaĂ­ faoin tsaorĂĄid chĂșlstop, agus cinneadh iad ag fĂ©achaint don mhĂ©id seo a leanas:

(a) TĂ©armaĂ­ tagartha an chĂșlstop choitinn i gcomhair CRA a formhuinĂ­odh ag CruinniĂș Mullaigh Euro an 14 Nollaig 2018;

(b) Aithris 15b den Chonradh seo lena meabhraĂ­tear go bhforĂĄiltear, i dtĂ©armaĂ­ tagartha an chĂșlstop choitinn i gcomhair CRA a formhuinĂ­odh ag CruinniĂș Mullaigh Euro an 14 Nollaig 2018, do chritĂ©ir le haghaidh eisĂ­ocaĂ­ochtaĂ­ faoin tsaorĂĄid chĂșlstop lena n-ĂĄirĂ­tear inter alia prionsabail na rogha deiridh agus na neodrachta buisĂ©adaĂ­ ar feadh an mheĂĄntĂ©arma, lĂĄn-chomhlĂ­onadh an RialachĂĄin maidir leis an SĂĄsra RĂ©itigh Aonair agus na Treorach maidir le TĂ©arnamh agus RĂ©iteach na mBanc, agus buaine an chreata dlĂ­;

(c) Airteagal 12(1a) den Chonradh seo ina sonraĂ­tear nach ndeonĂłfar iasachtaĂ­ faoin tsaorĂĄid chĂșlstop ach amhĂĄin mar rogha dheiridh agus, a mhĂ©id agus a bheidh neodracht bhuisĂ©adach ar feadh an mheĂĄntĂ©arma ag baint leis sin;

(d) Airteagal 18a(8) den Chonradh seo ina sonraĂ­tear, maidir leis an tsaorĂĄid chĂșlstop agus maidir lena hĂșsĂĄid, go mbeidh siad teagmhasach ar chomhlĂ­onadh an choinnĂ­ll maidir le buaine an chreata dlĂ­ um rĂ©iteach bainc, agus go gcinnfidh an Bord RialtĂłirĂ­ de bhun Airteagal 18a(1) den Chonradh seo forĂĄlacha breise maidir leis an nĂłs imeachta i dtaca le fĂ­orĂș chomhlĂ­onadh an choinnĂ­oll sin agus i dtaca leis na hiarmhairtĂ­ a ghabhfaidh leis sin a mhĂ©id a bhaineann leis an tsaorĂĄid chĂșlstop agus lena hĂșsĂĄid;

(e) Airteagal 18a(5) den Chonradh seo ina sonraĂ­tear go ndĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh de thoil a chĂ©ile, agus iad arna dtreorĂș ag na critĂ©ir dĂĄ bhforĂĄiltear san IarscrĂ­bhinn seo, maidir le hiasachtaĂ­ agus le heisĂ­ocaĂ­ochtaĂ­ faoin tsaorĂĄid chĂșlstop,

agus ĂĄ chur san ĂĄireamh gur de bhun Airteagal 18a den Chonradh seo a dhĂ©antar an nĂłs imeachta maidir le deonĂș agus cur chun feidhme na saorĂĄide cĂșlstop a chur i gcrĂ­ch agus go nglacfaidh an Bord StiĂșrthĂłirĂ­ treoirlĂ­nte mionsonraithe maidir leis na mĂłdĂșlachtaĂ­ maidir le cur chun feidhme na saorĂĄide cĂșlstop i gcomhrĂ©ir le hAirteagal 18a(4) den Chonradh seo.

2. CritĂ©ir le haghaidh formheas iasachtaĂ­ agus eisĂ­ocaĂ­ochtaĂ­ faoin tsaorĂĄid chĂșlstop:

(a) Is mar rogha dheiridh a dtĂ©itear ar iontaoibh na saorĂĄide cĂșlstop. DĂĄ bhrĂ­ sin:

(i) tĂĄ na hacmhainnĂ­ airgeadais CRA atĂĄ ar fĂĄil lena n-ĂșsĂĄid i gcomhrĂ©ir le hAirteagal 76 den RialachĂĄn maidir leis an SĂĄsra RĂ©itigh Aonair agus nach bhfuil geallta cheana i gcomhair gnĂ­omhaĂ­ochtaĂ­ rĂ©itigh Ă­dithe, lena n-ĂĄirĂ­tear an cĂĄs ina bhfuil acmhainnĂ­ airgeadais ar fĂĄil in CRA, ach nach leor na hacmhainnĂ­ sin don chĂĄs rĂ©itigh lena mbaineann;

(ii) nĂ­l na rannĂ­ocaĂ­ochtaĂ­ ex post leordhĂłthanach nĂł nĂ­l fĂĄil orthu lĂĄithreach; agus

(iii) ní féidir le BRA iasacht a fhåil ar théarmaí agus ar choinníollacha a measann BRA ina leith, i gcomhréir le hAirteagail 73 agus 74 den Rialachån maidir leis an Såsra Réitigh Aonair, go bhfuil siad inghlactha;

(b) TĂĄthar ag urramĂș phrionsabal sin na neodrachta buisĂ©adaĂ­ ar feadh an mheĂĄntĂ©arma. TĂĄ acmhainn aisĂ­ocaĂ­ochta BRA leordhĂłthanach chun na hiasachtaĂ­ a dheonĂłfar faoin tsaorĂĄid chĂșlstop a aisĂ­oc laistigh den mheĂĄntĂ©arma;

(c) TĂĄ teacht ag SCE ar na cistĂ­ a iarradh. I gcĂĄs eisĂ­ocaĂ­ochtaĂ­ airgid thirim, tĂĄ na cistĂ­ faighte ag SCE ar thĂ©armaĂ­ atĂĄ inghlactha ag SCE nĂł, i gcĂĄs eisĂ­ocaĂ­ochtaĂ­nach ndĂ©antar le hairgead tirim, tĂĄ nĂĄ nĂłtaĂ­ cruthaithe go dlĂ­thiĂșil agus tĂĄ siad ĂĄ sealbhĂș faoi choimeĂĄd na taisclainne urrĂșs is infheidhme;

(d) Na pĂĄirtithe uile sa ChomhaontĂș Idir-rialtasach, arb ina gcrĂ­ocha a fheidhmeoidh an beart rĂ©itigh ĂĄbhartha, tĂĄ a n-oibleagĂĄidĂ­ comhlĂ­onta acu maidir le rannĂ­ocaĂ­ochtaĂ­ a fuarthas Ăł institiĂșidĂ­ Ășdaraithe ina gcrĂ­ocha a aistriĂș chuig CRA;

(e) NĂ­l ar siĂșl aon teagmhas mainneachtana maidir le hiasachtaĂ­ BRA Ăł SCE nĂł Ăł aon chreidiĂșnaĂ­ eile, sin nĂł tĂĄ plean rĂ©itigh i leith teagmhais dĂĄ chineĂĄl curtha ar fĂĄil ag BRA agus tĂĄ an plean sin chun sĂĄstachta an Bhoird StiĂșrthĂłirĂ­;

(f) An coinníoll maidir le buaine an chreata dlí um réiteach bainc mar a shainítear in Airteagal 18a(9) den Chonradh seo, tå sé comhlíonta, de réir chinneadh an Bhoird Rialtóirí de bhun Airteagal 18a(1) agus (8) den Chonradh seo; agus

(g) ComhlĂ­onann an scĂ©im rĂ©itigh thiomanta dlĂ­ an Aontais Eorpaigh go hiomlĂĄn agus thĂĄinig sĂ­ i bhfeidhm i gcomhrĂ©ir le dlĂ­ an Aontais Eorpaigh.”.

AIRTEAGAL 2

TAISCEADH

DĂ©anfar an ComhaontĂș Leasaitheach seo a thaisceadh le hArdrĂșnaĂ­ocht Chomhairle an Aontais Eorpaigh (“an TaiscĂ­”), agus cuirfidh an TaiscĂ­ cĂłipeanna deimhnithe chuig na SĂ­nitheoirĂ­ uile.

AIRTEAGAL 3

COMHDHLÚTHÚ

DĂ©anfaidh an TaiscĂ­ leagan comhdhlĂșite den Chonradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach a ullmhĂș agus cuirfidh sĂ© chuig na SĂ­nitheoirĂ­ uile Ă©.

AIRTEAGAL 4

DAINGNIÚ, FORMHEAS NÓ GLACADH

1. Beidh an ComhaontĂș Leasaitheach seo faoi rĂ©ir a dhaingnithe, a fhormheasa nĂł a ghlactha ag na SĂ­nitheoirĂ­. DĂ©anfar ionstraimĂ­ daingniĂșchĂĄin, formheasa nĂł glactha a thaisceadh leis an TaiscĂ­.

2. Cuirfidh an Taiscí fógra chuig na Sínitheoirí eile maidir le gach taisceadh agus an dåta a dhéantar é.

AIRTEAGAL 5

TEACHT I BHFEIDHM AGUS AONTACHAS

1. Tiocfaidh an ComhaontĂș Leasaitheach seo i bhfeidhm an dĂĄta a bheidh na hionstraimĂ­ daingniĂșchĂĄin, formheasa nĂł glactha taiscthe ag na SĂ­nitheoirĂ­ uile.

2. Sula dtiocfaidh an ComhaontĂș Leasaitheach seo i bhfeidhm, beidh sĂ© ar oscailt le go mbeidh BallstĂĄit de chuid an Aontais Eorpaigh a aontaĂ­onn don Chonradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach in ann aontĂș dĂł i gcomhrĂ©ir le hAirteagail 2 agus 44 den Chonradh sin.

Maidir le hAirteagail 2 agus 44 den Chonradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach, beidh feidhm acu freisin maidir le haontachas don ChomhaontĂș Leasaitheach seo.

Beidh de cheangal ar an mBallstĂĄt aontach an t-iarratas ar aontachas don ChomhaontĂș Leasaitheach a thĂ­olacadh an trĂĄth cĂ©anna a ndĂ©antar an t-iarratas ar aontachas don Chonradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach. Maidir le formheas an iarratais ag an mBord RialtĂłirĂ­ faoi Airteagal 44 den Chonradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach, tiocfaidh an formheas sin i bhfeidhm trĂĄth a thaiscfear go comhuaineach na hionstraimĂ­ aontachais don Chonradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach agus don ChomhaontĂș Leasaitheach seo araon.

Arna dhĂ©anamh i scrĂ­bhinn bhunaidh amhĂĄin, a bhfuil comhĂșdarĂĄs ag a tĂ©acsanna sa BhĂ©arla, san EastĂłinis, san Fhionlainnis, sa Fhraincis, sa Ghaeilge, sa GhearmĂĄinis, sa GhrĂ©igis, san IodĂĄilis, sa Laitvis, sa LiotuĂĄinis, sa MhĂĄltais, san Ollainnis, sa PhortaingĂ©ilis, sa tSlĂłvaicis, sa tSlĂłivĂ©inis, sa SpĂĄinnis agus sa tSualainnis.

PART 2

Text of Amending Agreement in the English Language

AGREEMENT

AMENDING THE TREATY

ESTABLISHING THE EUROPEAN STABILITY MECHANISM

BETWEEN THE KINGDOM OF BELGIUM, THE FEDERAL REPUBLIC OF GERMANY,

THE REPUBLIC OF ESTONIA, IRELAND, THE HELLENIC REPUBLIC,

THE KINGDOM OF SPAIN, THE FRENCH REPUBLIC,

THE ITALIAN REPUBLIC, THE REPUBLIC OF CYPRUS, THE REPUBLIC OF LATVIA,

THE REPUBLIC OF LITHUANIA, THE GRAND DUCHY OF LUXEMBOURG,

THE REPUBLIC OF MALTA, THE KINGDOM OF THE NETHERLANDS,

THE REPUBLIC OF AUSTRIA, THE PORTUGUESE REPUBLIC,

THE REPUBLIC OF SLOVENIA, THE SLOVAK REPUBLIC

AND THE REPUBLIC OF FINLAND

PREAMBLE

THE CONTRACTING PARTIES, the Kingdom of Belgium, the Federal Republic of Germany, the Republic of Estonia, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, the Republic of Malta, the Kingdom of the Netherlands, the Republic of Austria, the Portuguese Republic, the Republic of Slovenia, the Slovak Republic and the Republic of Finland (the “euro area Member States” or the “Signatories”);

RECOGNISING the agreement to mobilise funding and to provide backstop financing for the purposes of the use of the Single Resolution Fund (“SRF”), owned by the Single Resolution Board (“SRB”) established in accordance with Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/20106 ;

RECOGNISING the key contribution of the European Stability Mechanism (“ESM”) in crisis management by providing timely and effectively stability support to euro area Member States;

HAVING AGREED on a comprehensive package to further strengthen the Economic and Monetary Union;

AIMING at a further development of the ESM to strengthen the resilience and crisis resolution capabilities of the euro area, while continuing to fully respect European Union law;

RECALLING that at the Euro Summit of 29 June 2018 in inclusive format, the Heads of State or Government of the Member States whose currency is the euro stated that the ESM will provide the common backstop to the SRF and be strengthened on the basis of the elements set out in the letter of the President of the Euro Group dated 25 June 2018;

FURTHER RECALLING that at the Euro Summit of 14 December 2018 in inclusive format, the Heads of State or Government of the Member States whose currency is the euro endorsed the terms of reference of said common backstop and a term sheet on the reform of the ESM, and that, at the Euro Summit of 21 June 2019 in inclusive format, the Heads of State or Government of the Member States whose currency is the euro took note of the broad agreement reached on the revision of the Treaty Establishing the European Stability Mechanism,

HAVE AGREED AS FOLLOWS:

ARTICLE 1

Amendments to the Treaty Establishing the European Stability Mechanism

The Treaty Establishing the European Stability Mechanism is amended as follows:

A. The preamble is amended as follows:

(1) Recital (4) is replaced by the following:

“(4) Strict observance of the European Union legal framework, the integrated framework for fiscal and macro-economic surveillance, in particular the Stability and Growth Pact, the macroeconomic imbalances framework and the economic governance rules of the European Union, should remain the first line of defence against confidence crises affecting the stability of the euro area.”.

(2) The following recitals are inserted:

“(5a) At the Euro Summit of 29 June 2018 in inclusive format, the Heads of State or Government of the Member States whose currency is the euro stated that the ESM will provide the common backstop to the Single Resolution Fund (‘SRF’) and be strengthened on the basis of the elements set out in the letter of the President of the Euro Group dated 25 June 2018. At the Euro Summit of 14 December 2018 in inclusive format, the Heads of State or Government of the Member States whose currency is the euro endorsed the terms of reference of said common backstop to be provided by the ESM, as well as a term sheet on the reform of the ESM. The term sheet on the reform of the ESM foresees that at the latest by the end of the transitional period, the common backstop to the SRF will be established. The term sheet on the reform of the ESM also foresees that the effectiveness of precautionary financial assistance instruments will be enhanced for ESM Members with sound economic fundamentals, which could be affected by an adverse shock beyond their control. In line with the joint position on future cooperation between the European Commission and the ESM as annexed to the term sheet on the reform of the ESM regarding the eligibility assessment under the precautionary credit line, depending on the precise scope of the eligibility criteria, the European Commission and the ESM will assume their respective roles in line with the law of the European Union, this Treaty and ESM guidelines. The term sheet on the reform of the ESM also foresees that an additional margin will be applied where an ESM Member having been granted ESM precautionary financial assistance fails to comply with the conditionality attached to it after having drawn funds, unless such non-compliance is due to events beyond the control of the government. The term sheet on the reform of the ESM furthermore highlights that conditionality remains an underlying principle of this Treaty and all ESM instruments, but the exact terms need to be adapted to each instrument.

(5b) The joint position on future cooperation between the ESM and the European Commission sets out the agreement on new modalities of cooperation within and outside financial assistance programmes. The European Commission and the ESM share common objectives and will exercise specific tasks related to crisis management for the euro area on the basis of European Union law and this Treaty. Therefore, the two institutions will work closely together on ESM crisis management measures with an efficient governance in pursuit of financial stability by complementing expertise. The European Commission ensures consistency with European Union law, in particular with the economic policy coordination framework. The ESM performs its analysis and assessment from the perspective of a lender. The joint position on future cooperation will be fully incorporated in a memorandum of cooperation, as set out in Article 13(8), when the amendments to this Treaty enter into force.”.

(3) In recital (7), the following sentence is added:

“ESM Members acknowledge the current dialogue between the Managing Director and the European Parliament.”.

(4) In recital (8), the third sentence is replaced by the following:

“A euro area Member State requesting financial assistance from the ESM is expected to address, whenever appropriate, a similar request to the IMF.”.

(5) The following recital is inserted:

“(9a) Member States of the European Union whose currency is not the euro and which have established a close cooperation with the European Central Bank (‘ECB’) in accordance with Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions7 are expected to provide parallel credit lines for the SRF alongside the ESM. Those Member States will participate in the common backstop on equivalent terms (‘Participating Member States’). Representatives of Participating Member States should be invited to attend meetings of the Board of Governors and Board of Directors as observers in which matters regarding the common backstop will be discussed and should have the same access to information. Appropriate arrangements for sharing of information and timely coordination between the ESM and Participating Member States should be established. It should be possible to invite representatives of the Single Resolution Board (‘SRB’) as observers on an ad hoc basis to attend meetings of the Board of Governors and the Board of Directors in which backstop financing will be discussed.”.

(6) Recital (10) is replaced by the following:

“(10) On 20 June 2011, the representatives of the Governments of the Member States of the European Union authorised the Contracting Parties of this Treaty to request the European Commission and the ECB to perform the tasks provided for in this Treaty. It is acknowledged that the duties conferred within this Treaty on the European Commission and the ECB do not entail any powers to make decisions of their own and that the tasks executed by those two institutions on the basis of this Treaty solely commit the ESM.”.

(7) In recital (11), the following sentences are added:

“Following the introduction of these CACs as of 1 January 2013, ESM Members commit to introduce CACs providing for single-limb aggregated voting (‘single-limb CACs’) by 2022. The detailed legal modalities will be agreed within the Economic and Financial Committee, taking into account national constitutional requirements, so that single-limb CACs will be implemented by all ESM Members in new euro area government securities in a way which ensures that their legal impact is identical.”.

(8) The following recitals are inserted:

“(11a) Upon request by an ESM Member and where appropriate, the ESM may facilitate the dialogue between that ESM Member and its private investors on a voluntary, informal, non-binding, temporary, and confidential basis.

(11b) The ESM should provide stability support only to ESM Members whose debt is considered sustainable and whose repayment capacity to the ESM is confirmed. The assessment of debt sustainability and repayment capacity will be carried out on a transparent and predictable basis, while allowing for sufficient margin of judgment. Such assessments will be carried out by the European Commission in liaison with the ECB, and the ESM and wherever appropriate and possible together with the IMF in line with this Treaty, European Union law and the memorandum of cooperation entered into pursuant to Article 13(8). Where the collaboration does not yield a common view, the European Commission will make the overall assessment of the sustainability of public debt, while the ESM will assess the capacity of the ESM Member concerned to repay the ESM.”.

(9) Recital (12) is replaced by the following:

“(12) In exceptional cases, an adequate and proportionate form of private sector involvement, in accordance with IMF practice, shall be considered in cases where stability support is provided accompanied by conditionality in the form of a macro-economic adjustment programme.”.

(10) In recital (13), the following sentence is added:

“Backstop loans to the SRB by the ESM are to enjoy preferred creditor status in a similar fashion to other ESM loans.”.

(11) Recital 14 is replaced by the following:

“(14) The euro area Member States will support equivalent creditor status of the ESM and that of other States lending bilaterally in coordination with the ESM, including in relation to backstop loans to the SRB.”.

(12) The following recitals are inserted:

“(15a) Article 2(3) of the Treaty on the Functioning of the European Union (‘TFEU’) sets out that the Member States of the European Union shall coordinate their economic policies within arrangements determined by the TFEU. In accordance with Articles 5(1) TFEU and 121 TFEU the Member States of the European Union are to coordinate their economic policies within the Council of the European Union. Accordingly, the ESM should not serve the purpose of economic policies coordination among ESM Members for which European Union law provides the necessary arrangements. The ESM respects the powers conferred by European Union law on the Union institutions and bodies.

(15b) ESM Members recognise that swift and efficient decision-making under the backstop facility and coordination with Participating Member States participating alongside the ESM in backstop financing for the SRF is critical to ensure the effectiveness of the common backstop and of resolutions financed therewith, as reflected by the terms of reference of the common backstop endorsed by the Heads of State or Government of the Member States whose currency is the euro at the Euro Summit of 14 December 2018 in inclusive format. The terms of reference foresee criteria for disbursements under the backstop facility including inter alia the principles of last resort and fiscal neutrality over the medium term, full compliance with Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/20108 (‘SRMR’) and with Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/20129 (‘BRRD’), and permanence of the legal framework. The terms of reference foresee a decision by the ESM on the use of the backstop, as a rule, within 12 hours as of the request by the SRB, extendable by the Managing Director to 24 hours in exceptional cases, especially in the case of a particularly complex resolution operation, while respecting national constitutional requirements.”.

(13) Recital 16 is replaced by the following:

“(16) The independence of the Managing Director and staff of the ESM is recognised by this Treaty. It should be exercised in a manner such that, where relevant and as provided for in this Treaty, consistency is preserved with European Union law, whose application is overseen by the European Commission.”.

(14) Recital 17 is replaced by the following:

“(17) Disputes concerning the interpretation and application of this Treaty arising between the Contracting Parties or between the Contracting Parties and the ESM should be submitted to the jurisdiction of the Court of Justice of the European Union, in accordance with Article 273 TFEU.

(18) The ESM will establish appropriate warning systems with the aim of ensuring that it receives any repayments due under stability support or the backstop facility in a timely manner. Post-programme surveillance will be carried out by the European Commission in liaison with the ECB, and by the Council of the European Union within the framework laid down pursuant to Articles 121 and 136 TFEU,”.

B. The Articles are amended as follows:

(15) Article 3 is replaced by the following:

“ARTICLE 3

Purposes

1. The purpose of the ESM shall be to mobilise funding and provide stability support under strict conditionality, appropriate to the financial assistance instrument chosen, to the benefit of ESM Members which are experiencing, or are threatened by, severe financing problems, if indispensable to safeguard the financial stability of the euro area as a whole and of its Member States. Where relevant in order to internally prepare and enable it to appropriately and in a timely manner pursue the tasks conferred on it by this Treaty, the ESM may follow and assess the macroeconomic and financial situation of its Members including the sustainability of their public debt and carry out analysis of relevant information and data. To this end, the Managing Director shall collaborate with the European Commission and the ECB to ensure full consistency with the framework for economic policy coordination provided for in the TFEU.

2. The ESM may provide the backstop facility to the SRB for the SRF to support the application of the resolution tools and exercise of resolution powers of the SRB as enshrined in European Union law.

3. For these purposes, the ESM shall be entitled to raise funds by issuing financial instruments or by entering into financial or other agreements or arrangements with ESM Members, financial institutions or other third parties.

4. Without prejudice to paragraph 1, the conditionality applied shall be appropriate to the financial assistance instrument chosen, as laid down in this Treaty.”.

(16) In Article 4(4), the first sentence is replaced by the following:

“By way of derogation from paragraph 3 of this Article, an emergency voting procedure shall be used where the European Commission and the ECB both conclude that a failure to urgently adopt a decision to grant or implement financial assistance, as defined in Articles 13 to 18, would threaten the economic and financial sustainability of the euro area.”.

(17) Article 5 is amended as follows:

(a) in paragraph 4, the following sentence is added:

“Representatives of Participating Member States participating alongside the ESM in backstop financing for the SRF shall also be invited to participate, as observers, in the meetings of the Board of Governors when matters regarding the common backstop will be discussed.”;

(b) paragraph 6 is amended as follows:

(i) point (a) is replaced by the following:

“(a) to cancel the emergency reserve fund and transfer its content back to the reserve fund and/or paid-in capital, in accordance with Article 4(4), to cancel the suspension of the application of the first subparagraph of Article 18a(6), to change the voting majority required for an adoption of a decision on loans and respective disbursements under the backstop facility under the emergency voting procedure and set the circumstances in which a review is to take place in the future, in accordance with the third subparagraph of Article 18a(6) ;”;

(ii) point (f) is replaced by the following:

“(f) to provide stability support by the ESM, including the economic policy conditionality as stated in the memorandum of understanding referred to in Article 13(3) or as referred to in Article 14(2), and to establish the choice of instruments and the financial terms and conditions, in accordance with Articles 12 to 18;”;

(iii) the following point is inserted:

“(fa) to change the eligibility criteria for precautionary financial assistance set out in Annex III in accordance with Article 14(1) ;”;

(iv) point (g) is replaced by the following:

“(g) to entrust (i) the Managing Director and (ii) the European Commission in liaison with the ECB, together to negotiate the economic policy conditionality attached to financial assistance, in accordance with Article 13(3) ;”;

(v) the following point is inserted:

“(ga) to grant a backstop facility, in accordance with the first subparagraph of Article 18a(1), to change the criteria for the approval of loans and disbursements under the backstop facility set out in Annex IV in accordance with the second subparagraph of Article 18a(1), to determine any of the elements set out in the third subparagraph of Article 18a(1), and to decide on the termination or continuation of such backstop facility in accordance with Article 18a(1) and (8) ;”;

(vi) point (h) is replaced by the following:

“(h) to change the pricing policy and pricing guideline for financial assistance or the backstop facility for the SRF, in accordance with Article 20;”;

(vii) point (j) is replaced by the following:

“(j) to establish the modalities of the transfer of EFSF support to the ESM, including the creation of an additional tranche of authorised capital, in accordance with Article 40;”.

(18) Article 6 is amended as follows:

(a) in paragraph 3, the following sentence is added:

“Representatives of Participating Member States participating alongside the ESM in backstop financing for the SRF shall also be invited to participate, as observers, in the meetings of the Board of Directors when matters regarding the common backstop will be discussed.”;

(b) paragraph 4 is replaced by the following:

“4. Other persons, including representatives of institutions or organisations, may be invited by the Board of Directors to attend meetings as observers on an ad hoc basis.”.

(19) In Article 7(4), the following sentence is added:

“The Managing Director and the staff of the ESM shall be responsible only to the ESM and shall be completely independent in the performance of their duties.”.

(20) Article 12 is amended as follows:

(a) the following paragraph is inserted:

“1a. The ESM may provide the backstop facility for the SRF, without prejudice to European Union law and the competences of European Union institutions and bodies. Loans under the backstop facility shall only be granted as a last resort and to the extent that it is fiscally neutral in the medium term.”;

(b) in paragraph 3, the following sentence is added:

“Single-limb aggregated voting shall apply to all new euro area government securities, with maturity above one year, issued on or after 1 January 2022.”;

(c) the following paragraph is added:

“4. When exercising the tasks conferred on it in this Treaty, the European Commission will ensure that financial assistance operations provided by the ESM under this Treaty are, where relevant, consistent with European Union law, in particular with the measures of economic policy coordination provided for in the TFEU.”.

(21) Article 13 is amended as follows:

(a) paragraph 1 is amended as follows:

(i) the introductory wording is replaced by the following:

“1. An ESM Member may address a request for stability support to the Chairperson of the Board of Governors. Such a request shall indicate the financial assistance instrument(s) to be considered. On receipt of such a request, both (i) the Managing Director and (ii) the European Commission in liaison with the ECB, shall be entrusted by the Chairperson of the Board of Governors to together discharge the following tasks:”;

(ii) point (b) is replaced by the following;

“(b) to assess whether public debt is sustainable and whether stability support can be repaid. This assessment shall be conducted in a transparent and predictable manner while allowing for sufficient margin of judgment. Wherever appropriate and possible, such an assessment is expected to be conducted together with the IMF;”;

(b) paragraph 2 is replaced by the following:

“2. On the basis of the request of the ESM Member and the assessments referred to in paragraph 1 of this Article, a proposal by the Managing Director based on these assessments and, where applicable, the positive assessments referred to in Article 14(1) and (2), the Board of Governors may decide to grant, in principle, stability support to the ESM Member concerned in the form of a financial assistance facility.”;

(c) in paragraph 3, the first subparagraph is replaced by the following:

“3. If a decision pursuant to paragraph 2 is adopted other than with respect to a precautionary conditioned credit line, the Board of Governors shall entrust (i) the Managing Director and (ii) the European Commission in liaison with the ECB, together and, wherever possible, also together with the IMF, with the task of negotiating, with the ESM Member concerned, a memorandum of understanding (an ‘MoU’) detailing the conditionality attached to the financial assistance facility. The content of the MoU shall reflect the severity of the weaknesses to be addressed and the financial assistance instrument chosen. The Managing Director shall prepare a proposal for a financial assistance facility agreement, including the financial terms and conditions and the choice of instruments, to be adopted by the Board of Governors.”;

(d) paragraph 4 is replaced by the following:

“4. The MoU shall be signed on behalf of the ESM by the European Commission and the Managing Director, subject to prior compliance with the conditions set out in paragraph 3 and approval by the Board of Governors.”;

(e) paragraph 7 is replaced by the following:

“7. Both (i) the Managing Director and (ii) the European Commission in liaison with the ECB, together and, wherever possible, also together with the IMF, shall be entrusted with monitoring compliance with the conditionality attached to the financial assistance facility.”;

(f) the following paragraph is added:

“8. Subject to prior approval by the Board of Directors by mutual agreement, the ESM may enter into a memorandum of cooperation with the European Commission detailing the cooperation between the Managing Director and the European Commission in carrying out the tasks entrusted to them pursuant to paragraphs 1, 3 and 7 of this Article, and referred to in Article 3(1).”.

(22) Article 14 is replaced by the following:

“ARTICLE 14

ESM precautionary financial assistance

1. ESM precautionary financial assistance instruments provide support to ESM Members with sound economic fundamentals which could be affected by an adverse shock beyond their control. The Board of Governors may decide to grant precautionary financial assistance to an ESM Member whose government debt is sustainable in the form of a precautionary conditioned credit line or in the form of an enhanced conditions credit line in accordance with Article 12(1), subject to the fulfilment of eligibility criteria to be applied for each type of such assistance as provided for in Annex III.

The Board of Governors may decide to change the eligibility criteria for ESM precautionary financial assistance and amend Annex III accordingly. Such amendment shall enter into force after the ESM Members have notified the Depositary of the completion of their applicable national procedures.

2. The conditionality attached to a precautionary conditioned credit line shall consist of continuous respect of the eligibility criteria provided for in Annex III to which the ESM Member concerned shall commit in its signed request pursuant to Article 13(1) highlighting its main policy intentions (‘Letter of Intent’). On receipt of such a Letter of Intent, the Chairperson of the Board of Governors shall entrust the European Commission with the task of assessing whether the policy intentions included in the Letter of Intent are fully consistent with the measures of economic policy coordination provided for in the TFEU, in particular with any act of European Union law, including any opinion, warning, recommendation or decision addressed to the ESM Member concerned. By way of derogation from Article 13(3) and (4), no MoU shall be negotiated.

3. The conditionality attached to an enhanced conditions credit line shall be detailed in the MoU, in accordance with Article 13(3), and be coherent with the eligibility criteria provided for in Annex III.

4. The financial terms and conditions of the ESM precautionary financial assistance shall be specified in a precautionary financial assistance facility agreement, to be signed by the Managing Director.

5. The Board of Directors shall adopt the detailed guidelines on the modalities for implementing the ESM precautionary financial assistance.

6. The Board of Directors shall regularly consider, at least every six months or after the ESM Member has drawn funds for the first time (via a loan or a primary market purchase), a report in accordance with Article 13(7). For a precautionary conditioned credit line, the report shall verify continuous respect of the eligibility criteria as referred to in paragraph 2 of this Article, whereas for an enhanced conditions credit line the report shall verify compliance with the policy conditions detailed in the MoU. Where the report concludes that the ESM Member continues to respect the eligibility criteria for the precautionary conditioned credit line or comply with the conditionality attached to the enhanced conditions credit line, the credit line shall be maintained unless the Managing Director or any Director requests a decision of the Board of Directors by mutual agreement whether the credit line should be maintained.

7. If the report pursuant to paragraph 6 of this Article concludes that the ESM Member no longer respects the eligibility criteria for the precautionary conditioned credit line or comply with the conditionality attached to the enhanced conditions credit line, access to the credit line shall be discontinued, unless the Board of Directors decides by mutual agreement to maintain the credit line. If the ESM Member has drawn funds before, an additional margin shall apply in line with the pricing guideline to be adopted by the Board of Governors pursuant to Article 20(2), unless the Board of Directors assesses on the basis of the report that non-compliance is due to events beyond the control of the ESM Member. If the credit line is not maintained, another form of financial assistance may be requested and granted in accordance with the applicable rules under this Treaty.”.

(23) In Article 15, paragraph 5 is replaced by the following:

“5. Where applicable, the Board of Directors shall decide by mutual agreement, on a proposal from the Managing Director and after having received a report from the Managing Director and the European Commission in accordance with Article 13(7), the disbursement of the tranches of the financial assistance subsequent to the first tranche.”.

(24) In Article 16, paragraph 5 is replaced by the following:

“5. The Board of Directors shall decide by mutual agreement, on a proposal from the Managing Director and after having received a report from the Managing Director and the European Commission in accordance with Article 13(7), the disbursement of the tranches of the financial assistance subsequent to the first tranche.”.

(25) In Article 17, paragraph 5 is replaced by the following:

“5. The Board of Directors shall decide by mutual agreement, on a proposal from the Managing Director and after having received a report from the Managing Director and the European Commission in accordance with Article 13(7), the disbursement of financial assistance to a beneficiary Member State through operations on the primary market.”.

(26) The following article is inserted:

“ARTICLE 18a

Backstop facility

1. On the basis of a request for a backstop facility by the SRB and of a proposal by the Managing Director, the Board of Governors may decide to grant a backstop facility to the SRB covering all possible uses of the SRF as enshrined in European Union law, subject to adequate safeguards.

The criteria for the approval of loans and disbursements under the backstop facility are provided for in Annex IV. The Board of Governors may decide to change the criteria for the approval of loans and disbursements and amend Annex IV accordingly. Such amendment shall enter into force after the ESM Members have notified the Depositary of the completion of their applicable national procedures.

The Board of Governors shall determine the key financial terms and conditions of the backstop facility, the nominal cap and any adjustments to it, provisions on the procedure for the verification of compliance with the condition of permanence of the legal framework for bank resolution and on the consequences for the backstop facility and its use as well as the conditions upon which the Board of Governors may decide to terminate the backstop facility and the conditions and time limits upon which the Board of Governors may decide to continue the backstop facility pursuant to paragraph 8.

2. The backstop facility shall take the form of a revolving credit line under which loans can be provided.

3. The detailed financial terms and conditions of the backstop facility shall be specified in a backstop facility agreement with the SRB, to be approved by the Board of Directors by mutual agreement and signed by the Managing Director.

4. The Board of Directors shall adopt and regularly review the detailed guidelines on the modalities for implementing the backstop facility, including on procedures ensuring swift adoption of decisions pursuant to paragraph 5.

5. On the basis of a request for a loan by the SRB, containing all relevant information while respecting confidentiality requirements of European Union law, a proposal from the Managing Director and an assessment of the SRB’s repayment capacity and, where relevant, the assessments by the European Commission and the ECB pursuant to paragraph 6, the Board of Directors shall decide by mutual agreement, guided by the criteria provided for in Annex IV, on loans and respective disbursements under the backstop facility. The Board of Directors may decide by mutual agreement to delegate to the Managing Director the task provided for in this paragraph for a specified period of time and amount, in line with the rules specified in guidelines adopted by the Board of Directors.

6. By way of derogation from Article 4(3), an emergency voting procedure shall be used where the European Commission and the ECB conclude in separate assessments that a failure to urgently adopt a decision by the Board of Directors on loans and respective disbursements under the backstop facility pursuant to the first sentence of paragraph 5 of this Article would threaten the economic and financial sustainability of the euro area. The adoption of such a decision by mutual agreement under that emergency procedure requires a qualified majority of 85% of the votes cast. This paragraph does not apply if, and for as long as, any procedures are ongoing concerning the permanence of the legal framework for bank resolution pursuant to paragraph 8 of this Article and related provisions adopted by the Board of Governors.

Where the emergency procedure referred to in the first subparagraph is used, a transfer to an emergency reserve fund is made in order to constitute a dedicated buffer to cover the risks arising from the loans and respective disbursements approved under that emergency procedure. The Board of Directors may decide by mutual agreement to cancel the emergency reserve fund and transfer its content back to the reserve fund and/or paid-in capital.

After two instances of the use of this emergency voting procedure, the application of the first subparagraph shall be suspended until the Board of Governors decides to cancel such suspension. The Board of Governors, when deciding to cancel such suspension, shall review the voting majority required for an adoption of a decision under said procedure and set the circumstances in which a review is to take place in the future, and may decide to amend this paragraph accordingly, without lowering the voting threshold. Such amendment shall enter into force after the ESM Members have notified the Depositary of the completion of their applicable national procedures.

7. The ESM shall establish an appropriate warning system to ensure timely receipt of repayments due under the backstop facility.

8. The backstop facility and its use under this Article shall be contingent upon compliance with the condition of permanence of the legal framework for bank resolution. Where the condition of the permanence of the legal framework for bank resolution is not complied with, a comprehensive review will be initiated and a decision by the Board of Governors shall be required to continue the backstop facility. Further provisions on the procedure for the verification of compliance with the condition of permanence of the legal framework for bank resolution and on the consequences for the backstop facility and its use, shall be determined by the Board of Governors pursuant to paragraph 1.

9. For the purpose of paragraph 8 of this Article, the permanence of the legal framework for bank resolution shall consist of:

(a) the permanence, as defined in Article 9(1) of the Intergovernmental Agreement of 21 May 2014 on the transfer and mutualisation of contributions to the Single Resolution Fund (‘IGA’), of the rules defined in Article 9(1) IGA; and

(b) the permanence of the principles and rules relating to the bail-in tool and to the framework on the minimum requirement for own funds and eligible liabilities laid down in BRRD, SRMR and Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/201210 , to the extent that these principles and rules are relevant for preserving the financial means of the SRF.

10. In implementing this Article, the ESM shall cooperate closely with Participating Member States participating alongside the ESM in backstop financing for the SRF.”.

(27) In Article 19, the title is replaced by the following:

“Review of and amendments to the list of financial assistance instruments”.

(28) In Article 20, paragraphs 1 and 2 are replaced by the following:

“1. When granting stability support or backstop financing for the SRF, the ESM shall aim to fully cover its financing and operating costs and shall include an appropriate margin.

2. For all financial assistance instruments and backstop financing for the SRF, pricing shall be detailed in a pricing guideline, which shall be adopted by the Board of Governors.”.

(29) In Article 21, paragraph 1 is replaced by the following:

“1. The ESM shall be empowered to borrow on the capital markets from banks, financial institutions or other persons or institutions for the performance of its purposes.”.

(30) In Article 30, paragraph 5 is replaced by the following:

“5. The Board of Governors shall make the annual report accessible to the national parliaments and supreme audit institutions of the ESM Members, to the European Court of Auditors and to the European Parliament.”.

(31) In Article 37, the following paragraph is added:

“4. Any dispute between ESM Members concerning the compliance with the condition of the permanence of the legal framework for bank resolution laid down in Article 18a may be directly submitted to the Court of Justice of the European Union in line with the procedure to be determined by the Board of Governors pursuant to Article 18a(1) and (8). The judgment of the Court of Justice of the European Union shall be binding on the parties to the procedure; the ESM shall act in conformity with such judgment.”.

(32) In Article 38 the sole paragraph is replaced by the following:

“The ESM shall be entitled, for the furtherance of its purposes, to cooperate, within the terms of this Treaty, with the IMF, any State which provides financial assistance to an ESM Member on an ad hoc basis, any Member State of the European Union and any international organisation or entity having responsibilities in related fields.”.

(33) In Article 40, the following paragraph is added:

“4. Without prejudice to Articles 8 to 11 and 39, the Board of Governors may, in order to facilitate the transfer referred to in paragraph 2 of this Article, create an additional tranche of authorised capital, to be subscribed by some or all EFSF shareholders in proportion to the contribution key set out in Annex 2 to the EFSF Framework Agreement signed on 10 June 2010 (as amended). The additional tranche shall consist of callable capital, shall have no voting rights (even if such capital is called), and shall be subject to a maximum amount corresponding to the aggregate principal amount outstanding of the EFSF loan facilities transferred multiplied by a percentage no higher than 165%. The Board of Governors shall determine the manner and circumstances of capital calls and payments under the additional tranche.

The transfer referred to in paragraph 2 shall not increase the sum of EFSF and ESM liabilities compared to a scenario where that transfer does not take place. The additional tranche shall support the transfer of the EFSF loans and shall be reduced in line with the repayment of said loans.

The decision by the Board of Governors under the first subparagraph shall enter into force after ESM Members have notified the Depositary of the completion of their applicable national procedures.”.

(34) In Article 45, points 1 and 2 are replaced by the following:

“1) Annex I: Contribution key of the ESM;

2) Annex II: Subscriptions to the authorised capital stock;

3) Annex III: Eligibility criteria for ESM precautionary financial assistance; and

4) Annex IV: Criteria for the approval of loans and disbursements under the backstop facility.”.

(35) The following text is added as Annex III:

“ANNEX III

Eligibility criteria for ESM precautionary financial assistance

1. The criteria below represent the eligibility criteria for ESM precautionary financial assistance and have been determined having regard to:

(a) the Euro Summit Statement of 14 December 2018 which endorsed the term sheet on the reform of the ESM, specifying that ex ante eligibility criteria assessing sound economic and financial performance will be clarified, and that the enhanced conditions credit line (‘ECCL’) instrument will continue to be available as foreseen in the current ESM guideline; and

(b) the joint position on future cooperation between the European Commission and the ESM, as annexed to the term sheet on the reform of the ESM, as well as to the roles and competences of institutions as foreseen in the European Union legal framework.

Furthermore considering that the procedure for granting ESM precautionary financial assistance follows Articles 13 and 14 of this Treaty, and that according to Article 14(1) of this Treaty, the Board of Governors may decide to grant precautionary financial assistance to an ESM Member whose government debt is sustainable, and that the Board of Directors shall adopt the detailed guidelines on the modalities for implementing ESM precautionary financial assistance accordance with Article 14(5) of this Treaty.

2. Eligibility criteria for granting a precautionary conditioned credit line (‘PCCL’):

Access to a PCCL shall be based on eligibility criteria and limited to ESM Members where the economic and financial situation is fundamentally strong and whose government debt is sustainable. As a rule, ESM Members need to meet quantitative benchmarks and comply with qualitative conditions related to EU surveillance. An assessment shall be made on whether a potential beneficiary ESM Member qualifies for a PCCL on the basis of the following criteria:

(a) respect of the quantitative fiscal benchmarks. The ESM Member shall not be under excessive deficit procedure and needs to meet the three following benchmarks in the two years preceding the request for precautionary financial assistance:

(i) a general government deficit not exceeding 3% of GDP;

(ii) a general government structural budget balance at or above the country specific minimum benchmark* ;

(iii) a debt benchmark consisting of a general government debt to GDP ratio below 60% or a reduction in the differential with respect to 60% over the previous two years at an average rate of one twentieth per year;

(b) absence of excessive imbalances. The ESM Member should not be identified as experiencing excessive imbalances under EU surveillance;

(c) a track record of access to international capital markets, where relevant, on reasonable terms;

(d) a sustainable external position; and

(e) absence of severe financial sector vulnerabilities putting at risk the ESM Member’s financial stability.

3. Eligibility criteria for granting an ECCL

Access to an ECCL shall be open to ESM Members that are not eligible to the PCCL because of non-compliance with some eligibility criteria but whose general economic and financial situation remains strong and whose government debt is sustainable.”.

(36) The following text is added as Annex IV:

“ANNEX IV

Criteria for the approval of loans and disbursements under the backstop facility

1. The criteria below represent the criteria for the approval of loans and disbursements under the backstop facility and have been determined having regard to:

(a) The terms of reference of the common backstop to the SRF endorsed at the Euro Summit of 14 December 2018;

(b) Recital 15b of this Treaty recalling that terms of reference of the common backstop to the SRF endorsed at the Euro Summit of 14 December 2018 foresee criteria for disbursements under the backstop facility including inter alia the principles of last resort and fiscal neutrality over the medium term, full compliance with SRMR and with BRRD, and permanence of the legal framework;

(c) Article 12(1a) of this Treaty specifying that loans under the backstop facility shall only be granted as a last resort and to the extent that it is fiscally neutral in the medium term;

(d) Article 18a(8) of this Treaty specifying that the backstop facility and its use shall be contingent upon compliance with the condition of permanence of the legal framework for bank resolution and that further provisions on the procedure on the verification of compliance with this condition and on the consequences for the backstop facility and its use shall be determined by the Board of Governors pursuant to Article 18a(1) of this Treaty;

(e) Article 18a(5) of this Treaty specifying that the Board of Directors shall decide by mutual agreement, guided by the criteria provided for in this Annex, on loans and respective disbursements under the backstop facility,

and considering that the procedure for granting and implementing the backstop facility follows Article 18a of this Treaty and that the Board of Directors shall adopt detailed guidelines on the modalities for implementing the backstop facility in accordance with Article 18a(4) of this Treaty.

2. Criteria for the approval of loans and disbursements under the backstop facility:

(a) Recourse to the backstop facility is of last resort. Therefore:

(i) the financial means of the SRF available to be used in accordance with Article 76 of the SRMR that are not already committed to resolution actions are depleted, including the situation where there are financial means available in the SRF, but those are insufficient for the resolution case at hand;

(ii) ex post contributions are not sufficient or not immediately available; and

(iii) the SRB is not able to borrow on terms and conditions considered acceptable by the SRB in accordance with Articles 73 and 74 of the SRMR;

(b) The principle of fiscal neutrality over the medium term is respected. The repayment capacity of the SRB is sufficient to fully repay the loans granted under the backstop facility over the medium term;

(c) The requested funds are available to the ESM. In the case of cash disbursements, the ESM has obtained the funds on terms acceptable to the ESM or, in the case of non-cash disbursements, the notes are legally created and held in custody of the applicable security depository;

(d) All the parties to the IGA, in the territories of which the relevant resolution action takes place, have complied with their obligations to transfer contributions received from the institutions authorised in their territory to the SRF;

(e) There is no ongoing event of default on borrowings of the SRB from the ESM or from any other creditor, or the SRB has presented a remedy plan in respect of any such ongoing event of default which is satisfactory to the Board of Directors;

(f) The condition of permanence of the legal framework on bank resolution as defined in Article 18a(9) of this Treaty is complied with, as determined by the Board of Governors pursuant to Article 18a(1) and (8) of this Treaty; and

(g) The dedicated resolution scheme is fully compliant with European Union law and has entered into force in accordance with European Union law.”.

ARTICLE 2

Deposit

This Amending Agreement shall be deposited with the General Secretariat of the Council of the European Union (“the Depositary”), which shall communicate certified copies to all the Signatories.

ARTICLE 3

Consolidation

The Depositary shall establish a consolidated version of the Treaty Establishing the European Stability Mechanism and communicate it to all the Signatories.

ARTICLE 4

Ratification, approval or acceptance

1. This Amending Agreement shall be subject to ratification, approval or acceptance by the Signatories. Instruments of ratification, approval, or acceptance shall be deposited with the Depositary.

2. The Depositary shall notify the other Signatories of each deposit and the date thereof.

ARTICLE 5

Entry into force and accession

1. This Amending Agreement shall enter into force on the date when instruments of ratification, approval or acceptance have been deposited by all the Signatories.

2. Before its entry into force, this Amending Agreement shall be open for accession by Member States of the European Union acceding to the Treaty Establishing the European Stability Mechanism in accordance with Articles 2 and 44 thereof.

Articles 2 and 44 of the Treaty Establishing the European Stability Mechanism shall also apply to the accession to this Amending Agreement.

The acceding Member State shall be required to submit the application for accession to this Amending Agreement simultaneously with the application for accession to the Treaty Establishing the European Stability Mechanism. The approval of the application by the Board of Governors under Article 44 of the Treaty Establishing the European Stability Mechanism shall take effect upon simultaneous deposit of the instruments of accession to both the Treaty Establishing the European Stability Mechanism and this Amending Agreement.

Done in a single original, whose Dutch, English, Estonian, Finnish, French, German, Greek, Irish, Italian, Latvian, Lithuanian, Maltese, Portuguese, Slovak, Slovenian, Spanish and Swedish texts are equally authentic.

SCHEDULE 2

PART 1

Text of ESM Treaty in the Irish Language

CONRADH

LENA mBUNAĂ?TEAR AN SĂ?SRA COBHSAĂ?OCHTA EORPACH

IDIR RĂ?OCHT NA BEILGE, POBLACHT CHÓNAIDHME NA GEARMĂ?INE,

POBLACHT NA hEASTÓINE, ÉIRE, AN PHOBLACHT HEILLÉANACH,

RĂ?OCHT NA SPĂ?INNE, POBLACHT NA FRAINCE,

POBLACHT NA hIODĂ?ILE, POBLACHT NA CIPIRE, POBLACHT NA LAITVIA,

POBLACHT NA LIOTUĂ?INE, ARD-DIÚCACHT LUCSAMBURG, MĂ?LTA,

RĂ?OCHT NA hĂ?SILTĂ?RE, POBLACHT NA hOSTAIRE,

POBLACHT NA PORTAINGÉILE, POBLACHT NA SLÓIVÉINE,

POBLACHT NA SLÓVAICE AGUS POBLACHT NA FIONLAINNE

TĂ? NA PĂ?IRTITHE CONARTHACHA, RĂ­ocht na Beilge, Poblacht ChĂłnaidhme na GearmĂĄine, Poblacht na hEastĂłine, Éire, an Phoblacht HeillĂ©anach, RĂ­ocht na SpĂĄinne, Poblacht na Fraince, Poblacht na hIodĂĄile, Poblacht na Cipire, Poblacht na Laitvia, Poblacht na LiotuĂĄine, Ard-DiĂșcacht Lucsamburg, MĂĄlta, RĂ­ocht na hĂ?siltĂ­re, Poblacht na hOstaire, Poblacht na PortaingĂ©ile, Poblacht na SlĂłivĂ©ine, Poblacht na SlĂłvaice agus Poblacht na Fionlainne (“BallstĂĄit an limistĂ©ir euro” nĂł “ComhaltaĂ­ SCE”);

AR A BHEITH TIOMANTA do chobhsaĂ­ocht airgeadais an limistĂ©ir euro a ĂĄirithiĂș;

AG MEABHRÚ DÓIBH ChonclĂșidĂ­ na Comhairle EorpaĂ­ maidir le sĂĄsra cobhsaĂ­ochta Eorpach a bhunĂș a glacadh an 25 MĂĄrta 2011;

DE BHARR AN MÉID SEO A LEANAS:

(1) ThĂĄinig an Chomhairle Eorpach ar chomhaontĂș an 17 Nollaig 2010 go gcaithfeadh BallstĂĄit an limistĂ©ir euro buansĂĄsra cobhsaĂ­ochta a bhunĂș. Glacfaidh an SĂĄsra CobhsaĂ­ochta Eorpach seo (“SCE”) na cĂșraimĂ­ atĂĄ ĂĄ gcomhall ag an tSaorĂĄid ChobhsaĂ­ochta Airgeadais Eorpach (“SaorCAE”) agus ag an SĂĄsra CobhsaĂ­ochta Airgeadais Eorpach (“SĂĄsCAE”) faoi lĂĄthair air fĂ©in le linn cĂșnamh airgeadais a sholĂĄthar, i gcĂĄs inar gĂĄ sin, do BhallstĂĄit de chuid an limistĂ©ir euro.

(2) An 25 MĂĄrta 2011, ghlac an Chomhairle Eorpach Cinneadh 2011/199/AE lena leasaĂ­tear Airteagal 136 den Chonradh ar FheidhmiĂș an Aontais Eorpaigh maidir le sĂĄsra cobhsaĂ­ochta le haghaidh na mBallstĂĄt a bhfuil an euro mar airgeadra acu11 agus lena gcuirtear an mhĂ­r seo a leanas le hAirteagal 136: “FĂ©adfaidh na BallstĂĄit a bhfuil an euro mar airgeadra acu sĂĄsra cobhsaĂ­ochta a bhunĂș atĂĄ le gnĂ­omhachtĂș mĂĄ tĂĄ sĂ© sin fĂ­or-riachtanach chun cobhsaĂ­ocht an limistĂ©ir euro ina iomlĂĄine a choimirciĂș. Beidh deonĂș aon chĂșnaimh airgeadais atĂĄ ag teastĂĄil faoin sĂĄsra faoi rĂ©ir coinnĂ­ollachta doichte”.

(3) D’fhonn Ă©ifeachtacht an chĂșnaimh airgeadais a mhĂ©adĂș agus an priacal aicĂ­dithe airgeadais a chosc, thĂĄinig CeannairĂ­ StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu ar chomhaontĂș an 21 IĂșil 2011 “solĂșbthacht [SCE] a mhĂ©adĂș ach coinnĂ­ollacht chuĂ­ a bheith ceangailte leis”.

(4) Is Ă© an chĂ©ad bheart cosanta ba cheart a bheith ann fĂłs i gcoinne gĂ©archĂ©imeanna muinĂ­ne, a dhĂ©anfadh dochar do chobhsaĂ­ocht an limistĂ©ir euro, urramĂș docht chreat an Aontais Eorpaigh, an fhaireachais mhaicreacnamaĂ­och chomhthĂĄite, agus go hĂĄirithe an Chomhshocraithe CobhsaĂ­ochta agus FĂĄis, an chreata um mĂ­chothromaĂ­ochtaĂ­ maicreacnamaĂ­ocha agus na rialacha maidir le rialachas eacnamaĂ­och an Aontais Eorpaigh.

(5) An 9 Nollaig 2011, chomhaontaigh CeannairĂ­ Stait nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu gluaiseacht i dtreo aontais eacnamaĂ­och nĂ­os lĂĄidre, lena n-ĂĄirĂ­tear comhaontĂș buisĂ©adach nua agus comhordĂș treisithe ar bheartas eacnamaĂ­och a chuirfear chun feidhme trĂ­ chomhaontĂș idirnĂĄisiĂșnta, an Conradh ar ChobhsaĂ­ocht, ar ChomhordĂș agus ar Rialachas san Aontas EacnamaĂ­och agus AirgeadaĂ­ochta (“CCCR”). Cuideoidh CCCR le comhordĂș nĂ­os dlĂșithe a fhorbairt laistigh den limistĂ©ar euro d’fhonn bainistĂ­ocht mharthanach, fhĂłnta agus urrĂșnta ar an airgeadas poiblĂ­ a ĂĄirithiĂș, agus tabharfaidh sĂ© aghaidh ar an gcaoi sin ar cheann de phrĂ­omhfhoinsĂ­ na hĂ©agobhsaĂ­ochta airgeadais. Is conarthaĂ­ comhlĂĄntacha an Conradh seo agus CCCR i dtaca leis an bhfreagracht bhuisĂ©adach agus an dlĂșthphĂĄirtĂ­ocht laistigh den aontas eacnamaĂ­och agus airgeadaĂ­ochta a chothĂș. AdmhaĂ­tear agus comhaontaĂ­tear go mbeidh deonĂș cĂșnaimh airgeadais faoi chreat chlĂĄir nua faoi SCE coinnĂ­ollach, amhail ar an 1 MĂĄrta 2013, ar an gComhalta de SCE lena mbaineann do dhaingniĂș CCCR agus, ar dhul in Ă©ag don trĂ©imhse trasuite dĂĄ dtagraĂ­tear in Airteagal 3(2) CCCR, ar chomhlĂ­onadh cheanglais an airteagail sin.

(6) I bhfianaise an idirghaoil lĂĄidir atĂĄ ann laistigh den limistĂ©ar euro, d’fhĂ©adfadh priacail mhĂłra do chobhsaĂ­ocht airgeadais BhallstĂĄit a bhfuil an euro mar airgeadra acu cobhsaĂ­ocht airgeadais an limistĂ©ir euro ina iomlĂĄine a chur i bpriacal. FĂ©adfaidh SCE, dĂĄ bhrĂ­ sin, tacaĂ­ocht chobhsaĂ­ochta a sholĂĄthar ar bhonn coinnĂ­ollachta doichte, a bheidh cuĂ­ don ionstraim cĂșnaimh airgeadais a roghnĂłfar, mĂĄ tĂĄ sĂ© sin fĂ­or-riachtanach chun cobhsaĂ­ocht airgeadais an limistĂ©ir euro ina iomlĂĄine agus a BhallstĂĄt a choimirciĂș. TĂĄ uasmhĂ©id na hiasachtĂłireachta is fĂ©idir a sholĂĄthar i dtosach Ăł SCE socraithe ag EUR 500 000 milliĂșn, lena n-ĂĄirĂ­tear an tacaĂ­ocht chobhsaĂ­ochta SCE atĂĄ fĂłs gan aisĂ­oc. DĂ©anfar leordhĂłthanacht uasmhĂ©id comhdhlĂșite iasachtĂłireachta SCE agus SaorCAE a athmheasĂșnĂș, ĂĄfach, sula dtiocfaidh an Conradh seo i bhfeidhm. MĂĄs cuĂ­, dĂ©anfaidh Bord RialtĂłirĂ­ SCE Ă© a mhĂ©adĂș, i gcomhrĂ©ir le hAirteagal 10, ar theacht i bhfeidhm an Chonartha seo.

(7) Tiocfaidh gach Ballståt den limistéar euro chun bheith ina Chomhalta de SCE. Mar thoradh ar chomhaltas den limistéar euro a fhåil, ba cheart go dtiocfadh Ballståt den Aontas Eorpach chun bheith ina Chomhalta de SCE, agus na cearta iomlåna agus na hoibleagåidí iomlåna aige, i gcomhréir le cearta agus le hoibleagåidí na bPåirtithe Conarthacha.

(8) Comhoibreoidh SCE go dlĂșth leis an gCiste AirgeadaĂ­ochta IdirnĂĄisiĂșnta (“CAI”) le linn tacaĂ­ocht chobhsaĂ­ochta a sholĂĄthar. FĂ©achfar le rannphĂĄirtĂ­ocht ghnĂ­omhach CAI a fhĂĄil, ar an leibhĂ©al teicniĂșil agus ar leibhĂ©al an airgeadais. Maidir le haon BhallstĂĄt den limistĂ©ar euro a iarrfaidh cĂșnamh airgeadais ar SCE, beifear ag sĂșil go ndĂ©anfaidh sĂ©, i ngach cĂĄs gur fĂ©idir, iarraidh chomhchosĂșil a dhĂ­riĂș chuig CAI.

(9) Maidir le BallstĂĄit an Aontais Eorpaigh nach bhfuil an euro mar airgeadra acu (“BallstĂĄit nach den limistĂ©ar euro”) a ghlacfaidh pĂĄirt ar bhonn ad hoc i gcomhar le SCE in oibrĂ­ocht tacaĂ­ochta cobhsaĂ­ochta do BhallstĂĄit de chuid an limistĂ©ir euro, iarrfar orthu freastal, i gcĂĄil breathnĂłirĂ­, ar chruinnithe SCE nuair a phlĂ©ifear an tacaĂ­ocht chobhsaĂ­ochta sin agus an faireachĂĄn a dhĂ©anfar uirthi. Beidh rochtain acu ar an bhfaisnĂ©is uile ar mhodh trĂĄthĂșil agus rachfar i gcomhairle leo go cuĂ­.

(10) An 20 Meitheamh 2011, thug ionadaithe Rialtais BhallstĂĄit an Aontais Eorpaigh ĂșdarĂș do na pĂĄirtithe is PĂĄirtithe Conarthacha sa Chonradh seo a iarraidh ar an gCoimisiĂșn Eorpach agus ar an mBanc Ceannais Eorpach (“BCE”) na cĂșraimĂ­ dĂĄ bhforĂĄiltear sa Chonradh seo a fheidhmiĂș.

(11) Sa rĂĄiteas uaidh an 28 Samhain 2010, dhearbhaigh an GrĂșpa Euro go ndĂ©anfar clĂĄsail chomhghnĂ­omhaĂ­ochta (“CCGanna”) a bheidh caighdeĂĄnaithe agus comhionann a ĂĄireamh i dtĂ©armaĂ­ agus i gcoinnĂ­ollacha bhannaĂ­ rialtais nua uile an limistĂ©ir euro, ionas go ndĂ©anfar leachtacht an mhargaidh a chaomhnĂș. Faoi mar a d’iarr an Chomhairle Eorpach an 25 MĂĄrta 2011, rinne an Coiste SĂłisialta agus EacnamaĂ­och na socruithe dlĂ­thiĂșla mionsonraithe lena n-ĂĄireofar CCGanna in urrĂșis rialtais an limistĂ©ir euro a thabhairt chun crĂ­che.

(12) I gcomhrĂ©ir le cleachtas CAI agus i gcĂĄsanna eisceachtĂșla, dĂ©anfar foirm rannphĂĄirtĂ­ochta leordhĂłthanaĂ­ agus comhrĂ©irĂ­ ag an earnĂĄil phrĂ­obhĂĄideach a bhreithniĂș i gcĂĄsanna ina ndĂ©antar tacaĂ­ocht chobhsaĂ­ochta a sholĂĄthar agus coinnĂ­ollacht ag gabhĂĄil ina teannta i bhfoirm clĂĄir coigeartuithe maicreacnamaĂ­ocha.

(13) Fearacht CAI, solĂĄthrĂłidh SCE tacaĂ­ocht chobhsaĂ­ochta do Chomhalta de SCE nuair nach mbeidh gnĂĄthrochtain rialta aige ar mhaoiniĂș margaidh nĂł nuair atĂĄ priacal ann go dtarlĂłidh sin. I bhfianaise an mĂ©id sin, dĂșirt na CeannairĂ­ StĂĄit nĂł Rialtais go mbeidh stĂĄdas mar chreidiĂșnaĂ­ tosaĂ­ochta ag iasachtaĂ­ SCE ar bhealach atĂĄ comhchosĂșil leis an mbealach ina bhfuil an stĂĄdas sin ag iasachtaĂ­ CAI, ach glacann siad leis freisin go mbeidh stĂĄdas mar chreidiĂșnaĂ­ tosaĂ­ochta ag CAI ar SCE. Beidh Ă©ifeacht leis an stĂĄdas sin amhail ar an dĂĄta a thiocfaidh an Conradh seo i bhfeidhm. I gcĂĄs ina mbeidh cĂșnamh airgeadais SCE i bhfoirm iasachtaĂ­ SCE ann tar Ă©is clĂĄir cĂșnaimh airgeadais atĂĄ ann trĂĄth sĂ­nithe an Chonartha seo, beidh ag SCE an tsinsearacht chĂ©anna a bheidh ag iasachtaĂ­ agus oibleagĂĄidĂ­ uile eile an Chomhalta de SCE is tairbhĂ­, seachas iasachtaĂ­ CAI.

(14) TacĂłidh BallstĂĄit an limistĂ©ir euro le deonĂș stĂĄdais choibhĂ©isigh mar chreidiĂșnaĂ­ do SCE agus do StĂĄit eile a thabharfaidh iasachtaĂ­ dĂ©thaobhacha i gcomhar le SCE.

(15) Maidir le coinnĂ­ollacha iasachtĂłireachta SCE le haghaidh BallstĂĄt atĂĄ faoi rĂ©ir clĂĄir coigeartuithe maicreacnamaĂ­ocha, lena n-ĂĄirĂ­tear iad sin dĂĄ dtagraĂ­tear in Airteagal 40 den Chonradh seo, dĂ©anfaidh siad costais maoinithe agus oibriĂșchĂĄin SCE a chumhdach agus ba cheart go mbeidĂ­s comhsheasmhach le coinnĂ­ollacha iasachtĂłireachta na gComhaontuithe SaorĂĄide CĂșnaimh Airgeadais arna sĂ­niĂș idir SaorCAE, Éire agus Banc Ceannais na hÉireann ar thaobh amhĂĄin agus SaorCAE, Poblacht na PortaingĂ©ile agus Banco de Portugal ar an taobh eile.

(16) Ba cheart dĂ­ospĂłidĂ­ a eascrĂłidh idir na PĂĄirtithe Conarthacha nĂł idir na PĂĄirtithe Conarthacha agus SCE maidir le lĂ©iriĂș agus cur i bhfeidhm an Chonartha seo a chur faoi bhrĂĄid dhlĂ­nse ChĂșirt BhreithiĂșnais an Aontais Eorpaigh, i gcomhrĂ©ir le hAirteagal 273 den Chonradh ar FheidhmiĂș an Aontais Eorpaigh (“CFAE”).

(17) DĂ©anfaidh an CoimisiĂșn Eorpach agus Comhairle an Aontais Eorpaigh faireachas iarchlĂĄir faoi chuimsiĂș an chreata a leagtar sĂ­os in Airteagal 121 agus Airteagal 136 CFAE,

TAR ÉIS COMHAONTÚ MAR A LEANAS:

CAIBIDIL 1

COMHALTAS AGUS CUSPÓIR

AIRTEAGAL 1

BunĂș agus comhaltaĂ­

1. Leis an gConradh seo, dĂ©anann na PĂĄirtithe Conarthacha institiĂșid idirnĂĄisiĂșnta airgeadais, ar a dtabharfar “an SĂĄsra CobhsaĂ­ochta Eorpach” (“SCE”), a bhunĂș eatarthu fĂ©in.

2. Is ComhaltaĂ­ de SCE na PĂĄirtithe Conarthacha.

AIRTEAGAL 2

ComhaltaĂ­ nua

1. Beidh comhaltas de SCE ar oscailt do na BallstĂĄit eile den Aontas Eorpach Ăłn trĂĄth a thiocfaidh an cinneadh Ăł Chomhairle an Aontais Eorpaigh, arna ghlacadh i gcomhrĂ©ir le hAirteagal 140(2) CFAE, i bhfeidhm, ar cinneadh Ă© lena n-aisghairtear an maolĂș atĂĄ ag na BallstĂĄit sin gan an euro a ghlacadh.

2. Maidir le Comhaltaí nua de SCE, ligfear isteach iad faoi na téarmaí agus na coinníollacha céanna atå ag Comhaltaí reatha de SCE, i gcomhréir le hAirteagal 44.

3. Gheobhaidh comhalta nua a aontaĂ­onn do SCE tar Ă©is a bhunaithe scaireanna in SCE mar mhalairt ar a rannĂ­oc caipitiĂșil, arna rĂ­omh i gcomhrĂ©ir leis an treoir rannĂ­oca dĂĄ bhforĂĄiltear in Airteagal 11.

AIRTEAGAL 3

CuspĂłir

Is Ă© is cuspĂłir do SCE cistiĂș a shlĂłgadh agus tacaĂ­ocht chobhsaĂ­ochta a sholĂĄthar, faoi choinnĂ­ollacht dhocht, a bheidh cuĂ­ don ionstraim cĂșnaimh airgeadais a roghnĂłfar, chun leasa ComhaltaĂ­ de SCE a bhfuil deacrachtaĂ­ mĂłra maoinithe acu nĂł a bhfuil deacrachtaĂ­ mĂłra maoinithe ag bagairt orthu, mĂĄ tĂĄ na nithe sin fĂ­or-riachtanach chun cobhsaĂ­ocht airgeadais an limistĂ©ir euro ina iomlĂĄine agus a BhallstĂĄt a choimirciĂș. Chun na crĂ­che sin, beidh SCE i dteideal cistĂ­ a thiomsĂș trĂ­ ionstraimĂ­ airgeadais a eisiĂșint nĂł trĂ­ theacht ar chomhaontuithe nĂł ar shocruithe airgeadais nĂł eile le ComhaltaĂ­ de SCE, le hinstitiĂșidĂ­ airgeadais nĂł le trĂ­Ăș pĂĄirtithe eile.

CAIBIDIL 2

RIALACHAS

AIRTEAGAL 4

StruchtĂșr agus rialacha vĂłtĂĄla

1. Beidh Bord RialtĂłirĂ­ agus Bord StiĂșrthĂłirĂ­, maille le StiĂșrthĂłir BainistĂ­ochta agus foireann eile dĂĄ chuid fĂ©in ag SCE de rĂ©ir mar a mheasfar is gĂĄ.

2. DĂ©anfar cinntĂ­ an Bhoird RialtĂłirĂ­ agus an Bhoird StiĂșrthĂłirĂ­ de thoil a chĂ©ile, trĂ­ thromlach cĂĄilithe nĂł trĂ­ thromlach simplĂ­, mar a shonraĂ­tear sa Chonradh seo. Maidir leis na cinntĂ­ uile a dhĂ©anfar, nĂ­ mĂłr cĂłram 2/3 de na comhaltaĂ­ a bhfuil cearta vĂłtĂĄla acu, atĂĄ in ionannas do 2/3 ar a laghad de na cearta vĂłtĂĄla, a bheith i lĂĄthair.

3. Chun cinneadh de thoil a chéile a ghlacadh, is gå aontoilíocht na gcomhaltaí a ghlacfaidh påirt sa vóta. Ní chuirfidh staonadh ó vótåil bac ar chinneadh a ghlacadh de thoil a chéile.

4. De mhaolĂș ar mhĂ­r 3, dĂ©anfar nĂłs imeachta vĂłtĂĄla Ă©igeandĂĄla a ĂșsĂĄid i gcĂĄsanna ina dtagann an CoimisiĂșn Eorpach agus BCE araon ar an tĂĄtal go mbeadh bagairt ann ar inmharthanacht eacnamaĂ­och agus airgeadais an limistĂ©ir euro mĂĄ mhainnĂ­tear cinneadh a ghlacadh go prĂĄinneach chun cĂșnamh airgeadais, arna shainmhĂ­niĂș in Airteagail 13 go 18, a dheonĂș nĂł a chur chun feidhme. Is gĂĄ tromlach cĂĄilithe 85% de na vĂłtaĂ­ a caitheadh le go bhfĂ©adfaidh an Bord RialtĂłirĂ­ agus an Bord StiĂșrthĂłirĂ­ cinneadh dĂĄ dtagraĂ­tear i bpointĂ­ (f) agus (g) d’Airteagal 5(6) a ghlacadh de thoil a chĂ©ile faoin nĂłs imeachta Ă©igeandĂĄla sin.

I gcĂĄs ina n-ĂșsĂĄidtear an nĂłs imeachta Ă©igeandĂĄla dĂĄ dtagraĂ­tear sa chĂ©ad fhomhĂ­r, dĂ©antar aistriĂș Ăłn gcĂșlchiste agus/nĂł Ăłn gcaipiteal Ă­octha chuig cĂșlchiste Ă©igeandĂĄla chun maolĂĄn tiomanta a chruthĂș chun na priacail a eascraĂ­onn as an tacaĂ­ocht airgeadais a dheonaĂ­tear faoin nĂłs imeachta Ă©igeandĂĄla sin a chumhdach. FĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh an cĂșlchiste Ă©igeandĂĄla a chealĂș agus a bhfuil ann a aistriĂș ar ais chuig an gcĂșlchiste agus/nĂł chuig an gcaipiteal Ă­octha.

5. Chun cinneadh a ghlacadh trí thromlach cåilithe, is gå ochtó faoin gcéad (80%) de na vótaí a caitheadh.

6. Chun cinneadh a ghlacadh trĂ­ thromlach simplĂ­, is gĂĄ tromlach na vĂłtaĂ­ a caitheadh.

7. Beidh cearta vĂłtĂĄla gach Comhalta de SCE, mar a fheidhmeoidh a cheapaĂ­ nĂł ionadaĂ­ an cheapaĂ­ ar an mBord RialtĂłirĂ­ nĂł ar an mBord StiĂșrthĂłirĂ­ iad, cothrom le lĂ­on na scaireanna a leithroinneadh ar an gComhalta sin i stoc caipitiĂșil Ășdaraithe SCE mar a leagtar amach in IarscrĂ­bhinn II.

8. MĂĄ mhainnĂ­onn aon Chomhalta de SCE aon chuid den mhĂ©id atĂĄ dlite maidir lena oibleagĂĄidĂ­ a Ă­oc i ndĂĄil leis na scaireanna Ă­octha nĂł na glaonna caipitil faoi Airteagal 8, Airteagal 9 agus Airteagal 10, nĂł i ndĂĄil le haisĂ­oc an chĂșnaimh airgeadais faoi Airteagal 16 nĂł Airteagal 17, nĂ­ bheidh sĂ© de chead ag an gComhalta sin aon chearta vĂłtĂĄla dĂĄ chuid a fheidhmiĂș fad a mhairfidh an mhainneachtain sin. DĂ©anfar na tairseacha vĂłtĂĄla a athrĂ­omh dĂĄ rĂ©ir sin.

AIRTEAGAL 5

An Bord RialtĂłirĂ­

1. Ceapfaidh gach Comhalta de SCE RialtĂłir agus RialtĂłir malartach. Beidh na ceapachĂĄin sin in-chĂșlghairthe trĂĄth ar bith. Is comhalta de rialtas an Chomhalta sin de SCE atĂĄ freagrach as airgeadas a bheidh ina RialtĂłir. Beidh lĂĄnchumhacht ag an RialtĂłir malartach gnĂ­omhĂș thar ceann an RialtĂłra nuair nach bhfuil an RialtĂłir i lĂĄthair.

2. DĂ©anfaidh an Bord RialtĂłirĂ­ cinneadh i dtaobh an rachaidh UachtarĂĄn an GhrĂșpa Euro, dĂĄ dtagraĂ­tear i bPrĂłtacal (Uimh. 14) maidir leis an nGrĂșpa Euro atĂĄ i gceangal leis an gConradh ar an Aontas Eorpach agus le CFAE, i gceannas air nĂł an dtoghfaidh an Bord RialtĂłirĂ­ Cathaoirleach agus Leaschathaoirleach as measc a chuid comhaltaĂ­ le haghaidh tĂ©arma dhĂĄ bhliain. FĂ©adfar an Cathaoirleach agus an Leaschathaoirleach a atoghadh. EagrĂłfar toghchĂĄn nua gan mhoill mura bhfuil an fheidhm is gĂĄ le haghaidh ainmniĂșchĂĄin mar RialtĂłir ag an sealbhĂłir oifige a thuilleadh.

3. FĂ©adfaidh an Comhalta den ChoimisiĂșn Eorpach atĂĄ i bhfeighil gnĂłthaĂ­ eacnamaĂ­ocha agus airgeadaĂ­ochta agus UachtarĂĄn BCE, mar aon le hUachtarĂĄn an GhrĂșpa Euro (murab Ă© nĂł Ă­ an Cathaoirleach agus mura RialtĂłir Ă© nĂł Ă­), pĂĄirt a ghlacadh i gcruinnithe an Bhoird RialtĂłirĂ­ i gcĂĄil breathnĂłirĂ­.

4. Maidir le hionadaithe Ballståt nach den limistéar euro a ghlacfaidh påirt ar bhonn ad hoc i gcomhar le SCE in oibríocht tacaíochta cobhsaíochta do Bhallståt den limistéar euro, iarrfar orthu freisin påirt a ghlacadh, i gcåil breathnóirí, i gcruinnithe an Bhoird Rialtóirí nuair a phléifear an tacaíocht chobhsaíochta sin agus an faireachån a dhéanfar uirthi.

5. FĂ©adfaidh an Bord RialtĂłirĂ­ a iarraidh ar dhaoine eile, lena n-ĂĄirĂ­tear ionadaithe de chuid institiĂșidĂ­ nĂł eagraĂ­ochtaĂ­, amhail CAI, freastal, i gcĂĄil breathnĂłirĂ­, ar chruinnithe ar bhonn ad hoc.

6. Déanfaidh an Bord Rialtóirí na cinntí seo a leanas de thoil a chéile:

(a) an cĂșlchiste Ă©igeandĂĄla a chealĂș agus a bhfuil ann a aistriĂș ar ais chuig an gcĂșlchiste agus/nĂł chuig an gcaipiteal Ă­octha, i gcomhrĂ©ir le hAirteagal 4(4);

(b) scaireanna nua a eisiĂșint faoi thĂ©armaĂ­ seachas tĂ©armaĂ­ ar par, i gcomhrĂ©ir le hAirteagal 8(2);

(c) na glaonna caipitil a dhéanamh, i gcomhréir le hAirteagal 9(1);

(d) an stoc caipitiĂșil Ășdaraithe a athrĂș agus uasmhĂ©id na hiasachtĂłireachta Ăł SCE a oiriĂșnĂș, i gcomhrĂ©ir le hAirteagal 10(1);

(e) nuashonrĂș ionchasach ar an treoir le haghaidh shuibscrĂ­obh chaipiteal BCE a chur i gcuntas, i gcomhrĂ©ir le hAirteagal 11(3), agus na hathruithe a bheidh le dĂ©anamh ar IarscrĂ­bhinn I a chur i gcuntas, i gcomhrĂ©ir le hAirteagal 11(6);

(f) tacaĂ­ocht chobhsaĂ­ochta Ăł SCE a sholĂĄthar, lena n-ĂĄirĂ­tear an choinnĂ­ollacht i dtaca le beartas eacnamaĂ­och arna lua sa mheabhrĂĄn tuisceana dĂĄ dtagraĂ­tear in Airteagal 13(3), agus an rogha ionstraimĂ­ agus na tĂ©armaĂ­ airgeadais agus na coinnĂ­ollacha a bhunĂș, i gcomhrĂ©ir le hAirteagail 12 go 18;

(g) sainordĂș a thabhairt don ChoimisiĂșn Eorpach an choinnĂ­ollacht i dtaca le beartas eacnamaĂ­och a bheidh ag gabhĂĄil le gach cĂșnamh airgeadais i gcomhrĂ©ir le hAirteagal 13(3), a chaibidil, i gcuibhreann le BCE;

(h) an beartas praghsĂĄla agus an treoirlĂ­ne praghsĂĄla le haghaidh cĂșnaimh airgeadais a athrĂș, i gcomhrĂ©ir le hAirteagal 20;

(i) liosta na n-ionstraimĂ­ cĂșnaimh airgeadais a fhĂ©adfaidh SCE a ĂșsĂĄid a athrĂș, i gcomhrĂ©ir le hAirteagal 19;

(j) na mĂłdĂșlachtaĂ­ a bhunĂș maidir le haistriĂș na tacaĂ­ochta Ăł SaorCAE go dtĂ­ SCE, i gcomhrĂ©ir le hAirteagal 40;

(k) an t-iarratas ar chomhaltas de SCE ag comhaltaĂ­ nua, dĂĄ dtagraĂ­tear in Airteagal 44, a fhormheas;

(l) oiriĂșnuithe a dhĂ©anamh ar an gConradh seo de thoradh dĂ­reach ar aontachas comhaltaĂ­ nua, lena n-ĂĄirĂ­tear athruithe a bheidh le dĂ©anamh ar dhĂĄileadh an chaipitil ar ChomhaltaĂ­ SCE agus dĂĄileadh den sĂłrt sin a rĂ­omh de thoradh dĂ­reach ar aontachas comhalta nua do SCE, i gcomhrĂ©ir le hAirteagal 44; agus

(m) na cĂșraimĂ­ a liostaĂ­tear san Airteagal seo a tharmligean chuig an mBord StiĂșrthĂłirĂ­.

7. DĂ©anfaidh an Bord RialtĂłirĂ­ na cinntĂ­ seo a leanas trĂ­ thromlach cĂĄilithe:

(a) tĂ©armaĂ­ teicniĂșla agus mionsonraithe aontachais comhalta nua le SCE a leagan amach, i gcomhrĂ©ir le hAirteagal 44;

(b) cinneadh i dtaobh UachtarĂĄn an GhrĂșpa Euro do dhul i gceannas air nĂł Cathaoirleach agus Leaschathaoirleach an Bhoird RialtĂłirĂ­ a thoghadh, trĂ­ thromlach cĂĄilithe, i gcomhrĂ©ir le mĂ­r 2;

(c) fodhlĂ­the SCE agus na rialacha nĂłis imeachta is infheidhme maidir leis an mBord RialtĂłirĂ­ agus leis an mBord StiĂșrthĂłirĂ­ (lena n-ĂĄirĂ­tear an ceart chun coistĂ­ agus fochomhlachtaĂ­ a bhunĂș) a leagan amach, i gcomhrĂ©ir le mĂ­r 9;

(d) liosta na ngnĂ­omhaĂ­ochtaĂ­ atĂĄ ar neamhrĂ©ir le dualgais StiĂșrthĂłra nĂł StiĂșrthĂłra mhalartaigh a chinneadh, i gcomhrĂ©ir le hAirteagal 6(8);

(e) an StiĂșrthĂłir BainistĂ­ochta a cheapadh agus deireadh a chur le tĂ©arma oifige an StiĂșrthĂłra BainistĂ­ochta, i gcomhrĂ©ir le hAirteagal 7;

(f) cistĂ­ eile a bhunĂș, i gcomhrĂ©ir le hAirteagal 24;

(g) na gnĂ­omhaĂ­ochtaĂ­ a dhĂ©anfar chun fiach a ghnĂłthĂș Ăł Chomhalta de SCE, i gcomhrĂ©ir le hAirteagal 25(2) agus (3);

(h) cuntais bhliantĂșla SCE a fhormheas, i gcomhrĂ©ir le hAirteagal 27(1);

(i) comhaltaĂ­ an Bhoird IniĂșchĂłirĂ­ a cheapadh, i gcomhrĂ©ir le hAirteagal 30(1);

(j) na hiniĂșchĂłirĂ­ seachtracha a fhormheas, i gcomhrĂ©ir le hAirteagal 29;

(k) an dĂ­olĂșine atĂĄ ag Cathaoirleach an Bhoird RialtĂłirĂ­, ag RialtĂłir, ag RialtĂłir malartach, ag StiĂșrthĂłir, ag StiĂșrthĂłir malartach nĂł ag an StiĂșrthĂłir BainistĂ­ochta a tharscaoileadh, i gcomhrĂ©ir le hAirteagal 35(2);

(l) an córas cånachais is infheidhme maidir le foireann SCE a chinneadh, i gcomhréir le hAirteagal 36(5);

(m) díospóid, i gcomhréir le hAirteagal 37(2) ; agus

(n) aon chinneadh eile is gĂĄ agus nach bhforĂĄiltear dĂł go sainrĂĄite leis an gConradh seo.

8. Is Ă© nĂł is Ă­ an Cathaoirleach a chomĂłrfaidh cruinnithe an Bhoird RialtĂłirĂ­ agus a bheidh i gceannas ar na cruinnithe sin. Beidh an Leaschathaoirleach i gceannas ar na cruinnithe sin aon uair nach mbeidh an Cathaoirleach in ann pĂĄirt a ghlacadh iontu.

9. DĂ©anfaidh an Bord RialtĂłirĂ­ a rialacha nĂłis imeachta agus fodhlĂ­the SCE a ghlacadh.

AIRTEAGAL 6

An Bord StiĂșrthĂłirĂ­

1. Ceapfaidh gach RialtĂłir StiĂșrthĂłir amhĂĄin agus StiĂșrthĂłir malartach amhĂĄin as measc daoine a bhfuil ard-inniĂșlacht acu i gcĂșrsaĂ­ eacnamaĂ­ocha agus airgeadais. Is ceapachĂĄin a bheidh in-chĂșlghairthe trĂĄth ar bith na ceapachĂĄin sin. Beidh lĂĄnchumhacht ag na StiĂșrthĂłirĂ­ malartacha gnĂ­omhĂș thar ceann an StiĂșrthĂłra nuair nach bhfuil an StiĂșrthĂłir i lĂĄthair.

2. FĂ©adfaidh an Comhalta den ChoimisiĂșn Eorpach atĂĄ i bhfeighil gnĂłthaĂ­ eacnamaĂ­ocha agus airgeadaĂ­ochta agus UachtarĂĄn BCE breathnĂłir amhĂĄin an duine a cheapadh.

3. Maidir le hionadaithe BallstĂĄt nach den limistĂ©ar euro a ghlacfaidh pĂĄirt ar bhonn ad hoc i gcomhar le SCE in oibrĂ­ocht cĂșnaimh airgeadais le haghaidh BallstĂĄit den limistĂ©ar euro, iarrfar orthu freisin pĂĄirt a ghlacadh, i gcĂĄil breathnĂłirĂ­, i gcruinnithe an Bhoird RialtĂłirĂ­ nuair a phlĂ©ifear an cĂșnamh airgeadais sin agus an faireachĂĄn a dhĂ©anfar air.

4. FĂ©adfaidh an Bord RialtĂłirĂ­ a iarraidh ar dhaoine eile, lena n-ĂĄirĂ­tear ionadaithe de chuid institiĂșidĂ­ nĂł eagraĂ­ochtaĂ­, freastal, i gcĂĄil breathnĂłirĂ­, ar chruinnithe ar bhonn ad hoc.

5. Is trĂ­ thromlach cĂĄilithe a dhĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinntĂ­, mura ndeirtear a mhalairt sa Chonradh seo. Maidir le cinntĂ­ a ghlacfar ar bhonn cumhachtaĂ­ arna dtarmligean ag an mBord RialtĂłirĂ­, is i gcomhrĂ©ir leis na rialacha vĂłtĂĄla iomchuĂ­ a leagtar amach in Airteagal 5(6) agus (7) a ghlacfar iad.

6. Gan dochar do chumhachtaĂ­ an Bhoird RialtĂłirĂ­ mar atĂĄ leagtha amach in Airteagal 5, ĂĄiritheoidh an Bord StiĂșrthĂłirĂ­ go ndĂ©anfar SCE a reĂĄchtĂĄil i gcomhrĂ©ir leis an gConradh seo agus le fodhlĂ­the SCE, arna nglacadh ag an mBord RialtĂłirĂ­. DĂ©anfaidh an Bord cinntĂ­ de rĂ©ir mar a fhorĂĄiltear sa Chonradh seo nĂł cinntĂ­ a bheidh tarmligthe chuige ag an mBord RialtĂłirĂ­.

7. DĂ©anfar aon fholĂșntas ar an mBord StiĂșrthĂłirĂ­ a lĂ­onadh lĂĄithreach i gcomhrĂ©ir le mĂ­r 1.

8. Leagfaidh an Bord RialtĂłirĂ­ sĂ­os na gnĂ­omhaĂ­ochtaĂ­ sin atĂĄ ar neamhrĂ©ir le dualgais StiĂșrthĂłra nĂł StiĂșrthĂłra mhalartaigh, agus leagfaidh sĂ© sĂ­os freisin fodhlĂ­the SCE agus rialacha nĂłis imeachta an Bhoird StiĂșrthĂłirĂ­.

AIRTEAGAL 7

An StiĂșrthĂłir BainistĂ­ochta

1. Ceapfaidh an Bord RialtĂłirĂ­ an StiĂșrthĂłir BainistĂ­ochta as measc iarrthĂłirĂ­ ag a bhfuil nĂĄisiĂșntacht Comhalta de SCE, taithĂ­ iomchuĂ­ idirnĂĄisiĂșnta agus ardleibhĂ©al inniĂșlachta i gcĂșrsaĂ­ eacnamaĂ­ocha agus airgeadais. Fad a shealbhĂłidh an StiĂșrthĂłir BainistĂ­ochta oifig, nĂ­ ceadmhach dĂł nĂł di a bheith ina RialtĂłir nĂĄ ina StiĂșrthĂłir nĂĄ ina mhalartach nĂł ina malartach do cheachtar dĂ­obh.

2. CĂșig bliana a bheidh i dtĂ©arma oifige an StiĂșrthĂłra BainistĂ­ochta. FĂ©adfar Ă© nĂł Ă­ a athcheapadh uair amhĂĄin. Scoirfidh an StiĂșrthĂłir BainistĂ­ochta dĂĄ oifig nĂł dĂĄ hoifig a shealbhĂș, ĂĄfach, nuair a chinnfidh an Bord RialtĂłirĂ­ amhlaidh.

3. Is Ă© nĂł is Ă­ an StiĂșrthĂłir BainistĂ­ochta a bheidh i gceannas ar chruinnithe an Bhoird StiĂșrthĂłirĂ­ agus glacfaidh sĂ© nĂł sĂ­ pĂĄirt i gcruinnithe an Bhoird RialtĂłirĂ­.

4. Is Ă© nĂł is Ă­ an StiĂșrthĂłir BainistĂ­ochta a bheidh ina cheann nĂł ina ceann ar fhoireann SCE. Beidh sĂ© nĂł sĂ­ freagrach as foireann a eagrĂș, a cheapadh agus a dhĂ­fhostĂș i gcomhrĂ©ir le rialacha foirne a ghlacfaidh an Bord StiĂșrthĂłirĂ­.

5. Is Ă© nĂł is Ă­ an StiĂșrthĂłir BainistĂ­ochta ionadaĂ­ dlĂ­thiĂșil SCE agus seolfaidh sĂ© nĂł sĂ­, faoi stiĂșir an Bhoird StiĂșrthĂłirĂ­, gnĂł reatha SCE.

CAIBIDIL 3

CAIPITEAL

AIRTEAGAL 8

Stoc caipitiĂșil Ășdaraithe

1. Is Ă© EUR 704 798.7 milliĂșn a bheidh sa stoc caipitiĂșil Ășdaraithe. Roinnfear Ă© i seacht milliĂșn, daichead a seacht mĂ­le, naoi gcĂ©ad ochtĂł a seacht scair a mbeidh luach ainmniĂșil EUR 100 000 an ceann orthu agus a bhfĂ©adfar a shuibscrĂ­obh de rĂ©ir na treorach rannĂ­oca tosaigh dĂĄ bhforĂĄiltear in Airteagal 11 agus a rĂ­omhtar in IarscrĂ­bhinn I.

2. Roinnfear an stoc caipitiĂșil Ășdaraithe i scaireanna Ă­octha agus i scaireanna inghlaoite. EUR 80 548.4 milliĂșn a bheidh i luach ainmniĂșil comhiomlĂĄn tosaigh iomlĂĄn na scaireanna Ă­octha. DĂ©anfar scaireanna stoic chaipitiĂșil Ășdaraithe a suibscrĂ­obhadh i dtosach a eisiĂșint ar par. Eiseofar scaireanna eile ar par, mura rud Ă© go gcinnfidh an Bord RialtĂłirĂ­ iad a eisiĂșint faoi thĂ©armaĂ­ eile in imthosca speisialta.

3. NĂ­ chuirfear scaireanna stoic chaipitiĂșil Ășdaraithe faoi eire nĂĄ i ngeall ar shlĂ­ ar bith nĂĄ nĂ­ bheidh siad inaistrithe, cĂ© is moite d’aistrithe ar mhaithe le coigeartuithe ar an treoir rannĂ­oca dĂĄ bhforĂĄiltear in Airteagal 11 a chur chun feidhme a mhĂ©id is gĂĄ lena ĂĄirithiĂș go bhfreagraĂ­onn dĂĄileadh na scaireanna don treoir choigeartaithe.

4. Gabhann ComhaltaĂ­ SCE orthu fĂ©in leis seo, go neamh-inchĂșlghairthe agus gan choinnĂ­oll, a rannĂ­oc leis an stoc caipitiĂșil Ășdaraithe a sholĂĄthar i gcomhrĂ©ir lena dtreoir rannĂ­oca in IarscrĂ­bhinn I. FreastalĂłidh siad go trĂĄthĂșil do na glaonna caipitiĂșla uile i gcomhrĂ©ir leis na tĂ©armaĂ­ a leagtar amach sa Chonradh seo.

5. Beidh dliteanas gach Comhalta de SCE teoranta, i ngach aon chĂĄs, dĂĄ sciar den stoc caipitiĂșil Ășdaraithe ar a phraghas eisiĂșna. NĂ­ bheidh aon Chomhalta de SCE faoi dhliteanas, de bhĂ­thin a chomhaltais, i leith oibleagĂĄidĂ­ de chuid SCE. NĂ­ dhĂ©anfar difear d’oibleagĂĄidĂ­ ComhaltaĂ­ de SCE rannĂ­oc a dhĂ©anamh leis an stoc caipitiĂșil Ășdaraithe i gcomhrĂ©ir leis an gConradh seo mĂĄs rud Ă© go dtiocfaidh aon Chomhalta den sĂłrt sin chun bheith cĂĄilithe chun cĂșnamh airgeadais a fhĂĄil Ăł SCE, nĂł mĂĄs rud Ă© go bhfuil cĂșnamh airgeadais ĂĄ fhĂĄil aige Ăł SCE.

AIRTEAGAL 9

Glaonna caipitil

1. FĂ©adfaidh an Bord RialtĂłirĂ­ caipiteal Ășdaraithe neamhĂ­octha a ghlaoch trĂĄth ar bith agus trĂ©imhse chuĂ­ a shocrĂș chun go n-Ă­ocfaidh ComhaltaĂ­ SCE Ă©.

2. FĂ©adfaidh an Bord StiĂșrthĂłirĂ­ caipiteal Ășdaraithe neamhĂ­octha a ghlaoch trĂ­ chinneadh tromlaigh shimplĂ­ chun leibhĂ©al an chaipitil Ă­octha a aisiriĂș mĂĄ thagann laghdĂș, trĂ­ chaillteanais a iompar, ar mhĂ©id an chaipitil Ă­octha faoi bhun an leibhĂ©il a bhunaĂ­tear in Airteagal 8(2), ar leibhĂ©al Ă© a bhfĂ©adfaidh an Bord RialtĂłirĂ­ Ă© a leasĂș de rĂ©ir an nĂłis imeachta dĂĄ bhforĂĄiltear in Airteagal 10, agus trĂ©imhse chuĂ­ a shocrĂș chun go n-Ă­ocfaidh ComhaltaĂ­ SCE Ă©.

3. DĂ©anfaidh an StiĂșrthĂłir BainistĂ­ochta caipiteal Ășdaraithe neamhĂ­octha a ghlaoch go trĂĄthĂșil mĂĄs gĂĄ sin chun go seachnĂłidh SCE mainneachtain ag SCE i leith aon oibleagĂĄide Ă­ocaĂ­ochta sceidealta nĂł oibleagĂĄide Ă­ocaĂ­ochta eile atĂĄ dlite do chreidiĂșnaithe SCE. Cuirfidh an StiĂșrthĂłir BainistĂ­ochta an Bord StiĂșrthĂłirĂ­ agus an Bord RialtĂłirĂ­ ar an eolas maidir le haon ghlaoch den sĂłrt sin. Nuair a bhraitear go bhfĂ©adfadh gannchion a bheith ann i gcistĂ­ SCE, dĂ©anfaidh an StiĂșrthĂłir BainistĂ­ochta an glaoch nĂł na glaonna sin ar chaipiteal a luaithe is fĂ©idir chun a ĂĄirithiĂș go mbeidh a dhĂłthain cistĂ­ ag SCE chun freastal d’Ă­ocaĂ­ochtaĂ­ atĂĄ dlite do chreidiĂșnaithe ina n-iomlĂĄine ar a ndĂĄta dlite. Gabhann ComhaltaĂ­ SCE orthu fĂ©in leis seo, go neamh-inchĂșlghairthe agus gan choinnĂ­oll, aon ghlaoch ar chaipiteal a dhĂ©anfaidh an StiĂșrthĂłir BainistĂ­ochta orthu a Ă­oc ar Ă©ileamh a fhĂĄil de bhun na mĂ­re seo, ar Ă©ileamh Ă© atĂĄ le hĂ­oc laistigh de sheacht lĂĄ Ăłn trĂĄth a gheofar Ă©.

4. Glacfaidh an Bord StiĂșrthĂłirĂ­ na tĂ©armaĂ­ agus na coinnĂ­ollacha mionsonraithe a mbeidh feidhm leo maidir le glaonna ar chaipiteal de bhun an Airteagail seo.

AIRTEAGAL 10

Athruithe ar an stoc caipitiĂșil Ășdaraithe

1. DĂ©anfaidh an Bord RialtĂłirĂ­ uasmhĂ©id na hiasachtĂłireachta Ăł SCE agus leordhĂłthanacht stoc caipitiĂșil Ășdaraithe SCE a athbhreithniĂș go rialta agus gach cĂșig bliana ar a laghad. FĂ©adfaidh sĂ© a chinneadh an stoc caipitiĂșil Ășdaraithe a athrĂș agus Airteagal 8 agus IarscrĂ­bhinn II a leasĂș dĂĄ rĂ©ir. Tiocfaidh an cinneadh sin i bhfeidhm a luaithe a bheidh fĂłgra tugtha ag ComhaltaĂ­ SCE don TaiscĂ­ ĂĄ rĂĄ go bhfuil a nĂłsanna imeachta nĂĄisiĂșnta is infheidhme tugtha i gcrĂ­ch. DĂ©anfar na scaireanna nua a leithroinnt ar ChomhaltaĂ­ SCE i gcomhrĂ©ir leis an treoir rannĂ­oca dĂĄ bhforĂĄiltear in Airteagal 11 agus in IarscrĂ­bhinn I.

2. Glacfaidh an Bord StiĂșrthĂłirĂ­ na tĂ©armaĂ­ agus na coinnĂ­ollacha mionsonraithe a mbeidh feidhm leo maidir leis na hathruithe uile ar chaipiteal nĂł le haon athruithe ar chaipiteal a dhĂ©anfar faoi mhĂ­r 1.

3. TrĂĄth a thiocfaidh BallstĂĄt den Aontas Eorpach chun bheith ina Chomhalta nua de SCE, dĂ©anfar stoc caipitiĂșil Ășdaraithe SCE a mhĂ©adĂș sa ghnĂĄthchĂșrsa trĂ­ na mĂ©ideanna faoi seach a bhĂ­ i rĂ©im an trĂĄth sin a iolrĂș faoin gcĂłimheas, laistigh den treoir rannĂ­oca choigeartaithe dĂĄ bhforĂĄiltear in Airteagal 11, idir ualĂș an Chomhalta nua de SCE agus ualĂș na gComhaltaĂ­ lĂĄithreacha de SCE.

AIRTEAGAL 11

Treoir rannĂ­oca

1. Faoi rĂ©ir mhĂ­r 2 agus mhĂ­r 3, dĂ©anfar an treoir rannĂ­oca le haghaidh shuibscrĂ­obh stoc caipitiĂșil Ășdaraithe SCE a bhunĂș ar an treoir le haghaidh shuibscrĂ­obh chaipiteal BCE ag bainc cheannais nĂĄisiĂșnta ChomhaltaĂ­ SCE de bhun Airteagal 29 de PhrĂłtacal (Uimh. 4) maidir le Reacht an ChĂłrais Eorpaigh Banc Ceannais agus an Bhainc Ceannais Eorpaigh (“Reacht CEBC”) atĂĄ i gceangal leis an gConradh ar an Aontas Eorpach agus CFAE.

2. TĂĄ an treoir rannĂ­oca le haghaidh shuibscrĂ­obh stoc caipitiĂșil Ășdaraithe SCE sonraithe in IarscrĂ­bhinn I.

3. DĂ©anfar an treoir rannĂ­oca le haghaidh shuibscrĂ­obh stoc caipitiĂșil Ășdaraithe SCE a choigeartĂș:

(a) nuair a thagann BallstĂĄt den Aontas Eorpach chun bheith ina Chomhalta nua de SCE agus nuair a thagann mĂ©adĂș sa ghnĂĄthchĂșrsa ar stoc caipitiĂșil Ășdaraithe SCE, mar a shonraĂ­tear in Airteagal 10(3) ; nĂł

(b) nuair a thagann deireadh leis an gceartĂș sealadach dhĂĄ bhliain dĂ©ag is infheidhme maidir le Comhalta de SCE agus a bunaĂ­odh i gcomhrĂ©ir le hAirteagal 42.

4. FĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh nuashonruithe ionchasacha ar an treoir le haghaidh shuibscrĂ­obh chaipiteal BCE dĂĄ dtagraĂ­tear i mĂ­r 1 a chur i gcuntas nuair a dhĂ©antar an treoir rannĂ­oca a choigeartĂș i gcomhrĂ©ir le mĂ­r 3 nĂł nuair a thagann athrĂș ar an stoc caipitiĂșil Ășdaraithe, mar a shonraĂ­tear in Airteagal 10(1).

5. Nuair a dhĂ©antar an treoir rannĂ­oca le haghaidh shuibscrĂ­obh stoic chaipitiĂșil Ășdaraithe SCE a choigeartĂș, aistreoidh ComhaltaĂ­ SCE stoc caipitiĂșil Ășdaraithe eatarthu fĂ©in a mhĂ©id is gĂĄ chun a ĂĄirithiĂș go bhfreagraĂ­onn dĂĄileadh an stoic chaipitiĂșil Ășdaraithe don treoir choigeartaithe.

6. DĂ©anfar IarscrĂ­bhinn I a leasĂș ar chinneadh Ăłn mBord RialtĂłirĂ­ maidir le haon choigeartĂș dĂĄ dtagraĂ­tear san Airteagal seo.

7. DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ gach beart eile is gĂĄ chun an tAirteagal seo a chur i bhfeidhm.

CAIBIDIL 4

OIBRĂ?OCHTAĂ?

AIRTEAGAL 12

Prionsabail

1. MĂĄs rud Ă© go bhfuil sĂ© sin fĂ­or-riachtanach chun cobhsaĂ­ocht airgeadais an limistĂ©ir euro ina iomlĂĄine agus a BhallstĂĄt a choimirciĂș, fĂ©adfaidh SCE tacaĂ­ocht chobhsaĂ­ochta a sholĂĄthar do Chomhalta de SCE, faoi rĂ©ir coinnĂ­ollachta doichte, a bheidh cuĂ­ don ionstraim cĂșnaimh airgeadais a roghnĂłfar. FĂ©adfaidh coinnĂ­ollacht den sĂłrt sin a bheith sa rĂ©imse idir clĂĄr coigeartuithe maicreacnamaĂ­ocha agus urramĂș leanĂșnach coinnĂ­ollacha inchĂĄilitheachta rĂ©amhbhunaithe.

2. Gan dochar d’Airteagal 19, fĂ©adfar tacaĂ­ocht chobhsaĂ­ochta SCE a dheonĂș trĂ­ na hionstraimĂ­ dĂĄ bhforĂĄiltear in Airteagail 14 go 18.

3. DĂ©anfar, amhail ar an 1 EanĂĄir 2013, clĂĄsail chomhghnĂ­omhaĂ­ochta a ĂĄireamh in urrĂșis rialtais nua uile an limistĂ©ir euro, a ngabhfaidh aibĂ­ocht nĂ­os faide nĂĄ bliain amhĂĄin leo, ar bhealach lena n-ĂĄirithĂ­tear gur toradh dlĂ­ comhionann a bheidh ag na clĂĄsail sin.

AIRTEAGAL 13

NĂłs imeachta chun tacaĂ­ocht chobhsaĂ­ochta a dheonĂș

1. FĂ©adfaidh Comhalta de SCE iarraidh ar thacaĂ­ocht chobhsaĂ­ochta a dhĂ­riĂș chuig Cathaoirleach an Bhoird RialtĂłirĂ­. LĂ©ireofar san iarraidh sin an ionstraim nĂł na hionstraimĂ­ cĂșnaimh airgeadais a bheidh le breithniĂș. Ar iarraidh den sĂłrt sin a fhĂĄil, cuirfidh Cathaoirleach an Bhoird RialtĂłirĂ­ de chĂșram ar an gCoimisiĂșn Eorpach, i gcuibhreann le BCE:

(a) measĂșnĂș a dhĂ©anamh i dtaobh an bhfuil priacal ann do chobhsaĂ­ocht airgeadais an limistĂ©ir euro ina iomlĂĄine nĂł a BhallstĂĄt, mura bhfuil anailĂ­s curtha isteach cheana ag BCE faoi Airteagal 18(2);

(b) measĂșnĂș a dhĂ©anamh i dtaobh an bhfuil an fiachas poiblĂ­ inbhuanaithe. I ngach cĂĄs inar cuĂ­ agus inar fĂ©idir, beifear ag sĂșil go ndĂ©anfar measĂșnĂș den sĂłrt sin in Ă©ineacht le CAI;

(c) measĂșnĂș a dhĂ©anamh ar riachtanais airgeadais iarbhĂ­r nĂł ionchasacha an Chomhalta de SCE lena mbaineann.

2. Ar bhonn iarraidh an Chomhalta de SCE agus an mheasĂșnaithe dĂĄ dtagraĂ­tear i mĂ­r 1, fĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh tacaĂ­ocht chobhsaĂ­ochta a dheonĂș, i bprionsabal, don Chomhalta de SCE lena mbaineann, i bhfoirm saorĂĄide cĂșnaimh airgeadais.

3. MĂĄ ghlactar cinneadh de bhun mhĂ­r 2, cuirfidh an Bord RialtĂłirĂ­ de chĂșram ar an gCoimisiĂșn Eorpach - i gcuibhreann le BCE agus, i ngach cĂĄs inar fĂ©idir, in Ă©ineacht le CAI - meabhrĂĄn tuisceana (“MT”) ina ndĂ©anfar mionsonrĂș ar an gcoinnĂ­ollacht a bheidh ag gabhĂĄil leis an tsaorĂĄid cĂșnaimh airgeadais a chaibidil leis an gComhalta de SCE lena mbaineann. Beidh inneachar an MT ag freagairt do dhĂ©ine na laigĂ­ a bhfuil aghaidh le tabhairt orthu agus don ionstraim cĂșnaimh airgeadais atĂĄ roghnaithe. An trĂĄth cĂ©anna, ullmhĂłidh StiĂșrthĂłir BainistĂ­ochta SCE togra le haghaidh comhaontĂș um shaorĂĄid cĂșnaimh airgeadais, lena n‑áireofar na tĂ©armaĂ­ airgeadais agus na coinnĂ­ollacha, agus an rogha ionstraimĂ­, a bheidh le glacadh ag an mBord RialtĂłirĂ­.

Beidh an MT i gcomhrĂ©ir go hiomlĂĄn le bearta comhordaithe an bheartais eacnamaĂ­och dĂĄ bhforĂĄiltear in CFAE, go hĂĄirithe le haon ghnĂ­omh de reachtaĂ­ocht an Aontais Eorpaigh, lena n‑áirĂ­tear aon tuairim, aon fholĂĄireamh, aon mholadh nĂł aon chinneadh a dhĂ­reofar chuig an gComhalta de SCE lena mbaineann.

4. SĂ­neoidh an CoimisiĂșn Eorpach an MT thar ceann SCE, faoi rĂ©ir na coinnĂ­ollacha a leagtar amach i mĂ­r 3 a chomhlĂ­onadh roimh rĂ© agus faoi rĂ©ir a fhormheasa roimh rĂ© ag an mBord RialtĂłirĂ­.

5. DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ an comhaontĂș um shaorĂĄid cĂșnaimh airgeadais, ina dtabharfar mionsonraĂ­ i dtaobh na ngnĂ©ithe airgeadais a bhaineann leis an tacaĂ­ocht chobhsaĂ­ochta atĂĄ le deonĂș agus, i gcĂĄs inarb infheidhme, eisĂ­ocaĂ­ocht an chĂ©ad trĂĄinse den chĂșnamh, a fhormheas.

6. BunĂłidh SCE cĂłras folĂĄirimh chuĂ­ chun a ĂĄirithiĂș go bhfaighidh sĂ© go trĂĄthĂșil aon aisĂ­ocaĂ­ochtaĂ­ atĂĄ dlite den Chomhalta de SCE faoin tacaĂ­ocht chobhsaĂ­ochta.

7. Cuirfear de chĂșram ar an gCoimisiĂșn Eorpach - i gcuibhreann le BCE agus, i ngach cĂĄs inar fĂ©idir, in Ă©ineacht le CAI - faireachĂĄn a dhĂ©anamh ar chomhlĂ­onadh na coinnĂ­ollachta a bheidh ag gabhĂĄil leis an tsaorĂĄid cĂșnaimh airgeadais.

AIRTEAGAL 14

CĂșnamh airgeadais rĂ©amhchĂșraim SCE

1. FĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh cĂșnamh airgeadais rĂ©amhchĂșraim a dheonĂș i bhfoirm lĂ­ne creidmheasa faoi choinnĂ­oll rĂ©amhchĂșraim nĂł i bhfoirm lĂ­ne creidmheasa faoi choinnĂ­ollacha breisithe i gcomhrĂ©ir le hAirteagal 12(1).

2. DĂ©anfar an choinnĂ­ollacht a bheidh ag gabhĂĄil le cĂșnamh airgeadais rĂ©amhchĂșraim SCE a mhionsonrĂș san MT, i gcomhrĂ©ir le hAirteagal 13(3).

3. SonrĂłfar na tĂ©armaĂ­ airgeadais agus na coinnĂ­ollacha a bhaineann le cĂșnamh airgeadais rĂ©amhchĂșraim SCE i gcomhaontĂș um shaorĂĄid cĂșnaimh airgeadais rĂ©amhchĂșraim a bheidh le sĂ­niĂș ag an StiĂșrthĂłir BainistĂ­ochta.

4. Glacfaidh an Bord StiĂșrthĂłirĂ­ na treoirlĂ­nte mionsonraithe maidir leis na mĂłdĂșlachtaĂ­ chun cĂșnamh airgeadais rĂ©amhchĂșraim SCE a chur chun feidhme.

5. DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, ar thogra a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus tar Ă©is tuarascĂĄil a fhĂĄil Ăłn gCoimisiĂșn Eorpach i gcomhrĂ©ir le hAirteagal 13(7), i dtaobh an amhlaidh ba cheart an lĂ­ne chreidmheasa a choimeĂĄd.

6. Tar Ă©is don Chomhalta de SCE cistĂ­ a tharraingt den chĂ©ad uair (trĂ­ iasacht nĂł trĂ­ cheannach ar an mbunmhargadh), dĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, ar thogra a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus bunaithe ar mheasĂșnĂș arna dhĂ©anamh ag an gCoimisiĂșn Eorpach, i gcuibhreann le BCE, i dtaobh an amhlaidh a leanann an lĂ­ne chreidmheasa de bheith leordhĂłthanach nĂł i dtaobh an amhlaidh atĂĄ gĂĄ le cineĂĄl eile cĂșnaimh airgeadais.

AIRTEAGAL 15

CĂșnamh airgeadais le haghaidh athchaipitliĂș institiĂșidĂ­ airgeadais de chuid Comhalta de SCE

1. FĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh cĂșnamh airgeadais a dheonĂș trĂ­ iasachtaĂ­ do Chomhalta de SCE go sonrach chun institiĂșidĂ­ airgeadais an Chomhalta sin de SCE a athchaipitliĂș.

2. DĂ©anfar an choinnĂ­ollacht a bheidh ag gabhĂĄil le cĂșnamh airgeadais le haghaidh athchaipitliĂș institiĂșidĂ­ airgeadais Comhalta de SCE a mhionsonrĂș san MT, i gcomhrĂ©ir le hAirteagal 13(3).

3. Gan dochar d’Airteagal 107 agus Airteagal 108 CFAE, dĂ©anfar na tĂ©armaĂ­ airgeadais agus na coinnĂ­ollacha a bhaineann le cĂșnamh airgeadais le haghaidh athchaipitliĂș institiĂșidĂ­ airgeadais Comhalta de SCE a shonrĂș i gcomhaontĂș um shaorĂĄid cĂșnaimh airgeadais a bheidh le sĂ­niĂș ag an StiĂșrthĂłir BainistĂ­ochta.

4. Glacfaidh an Bord StiĂșrthĂłirĂ­ na treoirlĂ­nte mionsonraithe maidir leis na mĂłdĂșlachtaĂ­ chun cĂșnamh airgeadais le haghaidh athchaipitliĂș institiĂșidĂ­ airgeadais Comhalta de SCE a chur chun feidhme.

5. I gcĂĄs inar infheidhme, dĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, ar thogra a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus tar Ă©is tuarascĂĄil a fhĂĄil Ăłn gCoimisiĂșn Eorpach i gcomhrĂ©ir le hAirteagal 13(7), i dtaobh eisĂ­ocaĂ­ocht na dtrĂĄinsĂ­ den chĂșnamh airgeadais i ndiaidh an chĂ©ad trĂĄinse.

AIRTEAGAL 16

IasachtaĂ­ SCE

1. FĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh cĂșnamh airgeadais a dheonĂș i bhfoirm iasachta do Chomhalta de SCE, i gcomhrĂ©ir le hAirteagal 12.

2. Beidh an choinníollacht a bheidh ag gabhåil le hiasachtaí SCE ar åireamh i gclår coigeartuithe maicreacnamaíocha a bheidh mionsonraithe san MT, i gcomhréir le hAirteagal 13(3).

3. SonrĂłfar na tĂ©armaĂ­ airgeadais agus na coinnĂ­ollacha a bhaineann le gach iasacht SCE i gcomhaontĂș um shaorĂĄid cĂșnaimh airgeadais a bheidh le sĂ­niĂș ag an StiĂșrthĂłir BainistĂ­ochta.

4. Glacfaidh an Bord StiĂșrthĂłirĂ­ na treoirlĂ­nte mionsonraithe maidir leis na mĂłdĂșlachtaĂ­ chun iasachtaĂ­ SCE a chur chun feidhme.

5. DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, ar thogra a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus tar Ă©is tuarascĂĄil a fhĂĄil Ăłn gCoimisiĂșn Eorpach i gcomhrĂ©ir le hAirteagal 13(7), i dtaobh eisĂ­ocaĂ­ocht na dtrĂĄinsĂ­ den chĂșnamh airgeadais i ndiaidh an chĂ©ad trĂĄinse.

AIRTEAGAL 17

SaorĂĄid tacaĂ­ochta bunmhargaidh

1. FĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh socrĂș a dhĂ©anamh bannaĂ­ de chuid Comhalta de SCE a cheannach ar an mbunmhargadh, i gcomhrĂ©ir le hAirteagal 12 agus Ă© mar chuspĂłir leis costas-Ă©ifeachtĂșlacht an chĂșnaimh airgeadais a uasmhĂ©adĂș.

2. DĂ©anfar an choinnĂ­ollacht a bheidh ag gabhĂĄil leis an tsaorĂĄid tacaĂ­ochta bunmhargaidh a mhionsonrĂș san MT, i gcomhrĂ©ir le hAirteagal 13(3).

3. SonrĂłfar na tĂ©armaĂ­ airgeadais agus na coinnĂ­ollacha faoina ndĂ©anfar na bannaĂ­ a cheannach sa chomhaontĂș um shaorĂĄid cĂșnaimh airgeadais a bheidh le sĂ­niĂș ag an StiĂșrthĂłir BainistĂ­ochta.

4. Glacfaidh an Bord StiĂșrthĂłirĂ­ na treoirlĂ­nte mionsonraithe maidir leis na mĂłdĂșlachtaĂ­ chun an tsaorĂĄid tacaĂ­ochta bunmhargaidh a chur chun feidhme.

5. DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, ar thogra a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta agus tar Ă©is tuarascĂĄil a fhĂĄil Ăłn gCoimisiĂșn Eorpach i gcomhrĂ©ir le hAirteagal 13(7), i dtaobh eisĂ­ocaĂ­ocht an chĂșnaimh airgeadais le BallstĂĄt is tairbhĂ­ trĂ­ oibrĂ­ochtaĂ­ ar an mbunmhargadh.

AIRTEAGAL 18

SaorĂĄid tacaĂ­ochta margaidh thĂĄnaistigh

1. FĂ©adfaidh an Bord RialtĂłirĂ­ a chinneadh socrĂș a dhĂ©anamh le haghaidh oibrĂ­ochtaĂ­ ar an margadh tĂĄnaisteach maidir le bannaĂ­ Comhalta de SCE i gcomhrĂ©ir le hAirteagal 12(1).

2. Maidir le cinntĂ­ faoi idirghabhĂĄlacha ar an margadh tĂĄnaisteach chun aghaidh a thabhairt ar aicĂ­diĂș, dĂ©anfar iad ar bhonn anailĂ­se Ăł BCE lena n-aithnĂ­tear gurb ann do dhĂĄlaĂ­ eisceachtĂșla sa mhargadh airgeadais agus do phriacail do chobhsaĂ­ocht airgeadais.

3. DĂ©anfar an choinnĂ­ollacht a bheidh ag gabhĂĄil leis an tsaorĂĄid tacaĂ­ochta margaidh thĂĄnaistigh a mhionsonrĂș san MT, i gcomhrĂ©ir le hAirteagal 13(3).

4. SonrĂłfar na tĂ©armaĂ­ airgeadais agus na coinnĂ­ollacha faoina bhfuil na hoibrĂ­ochtaĂ­ ar an margadh tĂĄnaisteach le dĂ©anamh i gcomhaontĂș um shaorĂĄid cĂșnaimh airgeadais a bheidh le sĂ­niĂș ag an StiĂșrthĂłir BainistĂ­ochta.

5. Glacfaidh an Bord StiĂșrthĂłirĂ­ na treoirlĂ­nte mionsonraithe maidir leis na mĂłdĂșlachtaĂ­ chun an tsaorĂĄid tacaĂ­ochta margaidh thĂĄnaistigh a chur chun feidhme.

6. DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ cinneadh, de thoil a chĂ©ile, ar thogra a fhĂĄil Ăłn StiĂșrthĂłir BainistĂ­ochta, maidir le hoibrĂ­ochtaĂ­ a thionscnamh ar an margadh tĂĄnaisteach.

AIRTEAGAL 19

AthbhreithniĂș ar liosta na n-ionstraimĂ­ cĂșnaimh airgeadais

FĂ©adfaidh an Bord RialtĂłirĂ­ athbhreithniĂș a dhĂ©anamh ar liosta na n-ionstraimĂ­ cĂșnaimh airgeadais dĂĄ bhforĂĄiltear in Airteagail 14 go 18 agus cinneadh a dhĂ©anamh athruithe a dhĂ©anamh ar an liosta sin.

AIRTEAGAL 20

Beartas praghsĂĄla

1. Le linn dĂł tacaĂ­ocht chobhsaĂ­ochta a dheonĂș, beidh sĂ© mar chuspĂłir ag SCE a chostais maoinithe agus oibriĂșchĂĄin a chumhdach go hiomlĂĄn agus cuirfidh sĂ© corrlach cuĂ­ san ĂĄireamh.

2. I gcĂĄs gach ionstraime cĂșnaimh airgeadais, dĂ©anfar an phraghsĂĄil a mhionsonrĂș i dtreoirlĂ­ne praghsĂĄla, ar treoirlĂ­ne Ă­ a ghlacfaidh an Bord RialtĂłirĂ­.

3. FĂ©adfaidh an Bord RialtĂłirĂ­ an beartas praghsĂĄla a athbhreithniĂș.

AIRTEAGAL 21

OibrĂ­ochtaĂ­ iasachtaĂ­ochta

1. CumhachtĂłfar do SCE iasachtaĂ­ a fhĂĄil ar na margaĂ­ caipitil Ăł bhainc, Ăł institiĂșidĂ­ airgeadais nĂł Ăł dhaoine nĂł Ăł institiĂșidĂ­ eile ar mhaithe lena chuspĂłir a chomhlĂ­onadh.

2. Cinnfidh an StiĂșrthĂłir BainistĂ­ochta na mĂłdĂșlachtaĂ­ maidir leis na hoibrĂ­ochtaĂ­ iasachtaĂ­ochta i gcomhrĂ©ir le treoirlĂ­nte mionsonraithe atĂĄ le glacadh ag an mBord StiĂșrthĂłirĂ­.

3. Bainfidh SCE leas as uirlisĂ­ cuĂ­ bainistĂ­ochta priacail agus dĂ©anfaidh an Bord StiĂșrthĂłirĂ­ athbhreithniĂș ar na huirlisĂ­ sin go rialta.

CAIBIDIL 5

BAINISTĂ?OCHT AIRGEADAIS

AIRTEAGAL 22

Beartas infheistĂ­ochta

1. Cuirfidh an StiĂșrthĂłir BainistĂ­ochta beartas stuama infheistĂ­ochta chun feidhme le haghaidh SCE chun an chreidmheasacht is airde a ĂĄirithiĂș do SCE, i gcomhrĂ©ir le treoirlĂ­nte atĂĄ le glacadh, agus le hathbhreithniĂș go rialta, ag an mBord StiĂșrthĂłirĂ­. Beidh SCE i dteideal sciar den toradh ar a phunann infheistĂ­ochta a ĂșsĂĄid chun a chostais oibriĂșchĂĄin agus riarachĂĄin a chumhdach.

2. ComhlĂ­onfaidh oibrĂ­ochtaĂ­ SCE prionsabail na bainistĂ­ochta fĂłnta airgeadais agus priacail.

AIRTEAGAL 23

Beartas dĂ­bhinne

1. FĂ©adfaidh an Bord StiĂșrthĂłirĂ­ a chinneadh, trĂ­ thromlach simplĂ­, dĂ­bhinn a dhĂĄileadh ar ChomhaltaĂ­ SCE i gcĂĄs inar mĂł mĂ©id an chaipitil Ă­octha agus an chĂșlchiste nĂĄ an leibhĂ©al is gĂĄ chun go ndĂ©anfaidh SCE acmhainn iasachtĂłireachta a choimeĂĄd agus i gcĂĄs nach bhfuil gĂĄ leis na fĂĄltais Ăłn infheistĂ­ocht chun gannchion Ă­ocaĂ­ochta le creidiĂșnaithe a sheachaint. DĂ©antar dĂ­bhinnĂ­ a dhĂĄileadh pro rata de rĂ©ir na rannĂ­ocaĂ­ leis an gcaipiteal Ă­octha, agus cuirfear an luathĂ­ocaĂ­ocht is fĂ©idir a dhĂ©anamh, dĂĄ dtagraĂ­tear in Airteagal 41(3), san ĂĄireamh.

2. Fad nach bhfuil cĂșnamh airgeadais tugtha ag SCE d’aon chomhalta dĂĄ chuid, tabharfar na fĂĄltais Ăł infheistiĂș chaipiteal Ă­octha SCE ar ais do ChomhaltaĂ­ SCE de rĂ©ir a rannĂ­ocaĂ­ faoi seach leis an gcaipiteal Ă­octha, tar Ă©is asbhaintĂ­ i leith costas oibriĂșchĂĄin, ar choinnĂ­oll go bhfuil an acmhainn iarbhĂ­r iasachtĂłireachta sprice ar fĂĄil go hiomlĂĄn.

3. Cuirfidh an StiĂșrthĂłir BainistĂ­ochta an beartas dĂ­bhinne le haghaidh SCE chun feidhme i gcomhrĂ©ir le treoirlĂ­nte a ghlacfaidh an Bord StiĂșrthĂłirĂ­.

AIRTEAGAL 24

CĂșlchiste agus cistĂ­ eile

1. BunĂłidh an Bord RialtĂłirĂ­ cĂșlchiste agus, i gcĂĄs gur cuĂ­, cistĂ­ eile.

2. Gan dochar d’Airteagal 23, cuirfear i leataobh i gcĂșlchiste an glanioncam a chruthaigh oibrĂ­ochtaĂ­ SCE agus na fĂĄltais Ăł na smachtbhannaĂ­ airgeadais a fuarthas Ăł ChomhaltaĂ­ SCE faoin nĂłs imeachta faireachais iltaobhaigh, faoin nĂłs imeachta um easnamh iomarcach agus faoin nĂłs imeachta um mĂ­chothromaĂ­ochtaĂ­ maicreacnamaĂ­ocha a bunaĂ­odh faoi CFAE.

3. DĂ©anfar acmhainnĂ­ an chĂșlchiste a infheistiĂș i gcomhrĂ©ir le treoirlĂ­nte a ghlacfaidh an Bord StiĂșrthĂłirĂ­.

4. Glacfaidh an Bord StiĂșrthĂłirĂ­ cibĂ© rialacha is gĂĄ chun cistĂ­ eile a bhunĂș, a riaradh agus a ĂșsĂĄid.

AIRTEAGAL 25

Caillteanais a chumhdach

1. Maidir le caillteanais a eascraĂ­onn le linn oibrĂ­ochtaĂ­ SCE, dĂ©anfar iad a mhuirearĂș:

(a) ar an gcĂ©ad dul sĂ­os, ar an gcĂșlchiste;

(b) ar an dara dul sĂ­os, ar an gcaipiteal Ă­octha; agus

(c) ar deireadh, ar mhĂ©id cuĂ­ den chaipiteal Ășdaraithe neamhĂ­octha, a ghlaofar i gcomhrĂ©ir le hAirteagal 9(3).

2. MĂĄ mhainnĂ­onn Comhalta de SCE an Ă­ocaĂ­ocht faoi ghlaoch ar chaipiteal de bhun Airteagal 9(2) nĂł (3) a dhĂ©anamh, cuirfear glaoch athmheasta mĂ©adaithe ar chaipiteal chuig ComhaltaĂ­ uile SCE chun a ĂĄirithiĂș go bhfaighidh SCE mĂ©id iomlĂĄn an chaipitil Ă­octha is gĂĄ. DĂ©anfaidh an Bord RialtĂłirĂ­ cinneadh ar ghnĂ­omhaĂ­ocht chuĂ­ chun a ĂĄirithiĂș go nglanfaidh an Comhalta de SCE lena mbaineann a fhiacha le SCE laistigh de thrĂ©imhse rĂ©asĂșnta ama. Beidh an Bord RialtĂłirĂ­ i dteideal a cheangal go n-Ă­ocfar Ășs mainneachtana ar an mĂ©id atĂĄ thar tĂ©arma.

3. A luaithe a bheidh a fhiacha le SCE då dtagraítear i mír 2 glanta ag Comhalta de SCE, aisíocfar an farasbarr caipitil le Comhaltaí eile SCE i gcomhréir le rialacha a ghlacfaidh an Bord Rialtóirí.

AIRTEAGAL 26

Buiséad

DĂ©anfaidh an Bord StiĂșrthĂłirĂ­ buisĂ©ad SCE a fhormheas gach bliain.

AIRTEAGAL 27

Cuntais bhliantĂșla

1. Is Ă© an Bord RialtĂłirĂ­ a dhĂ©anfaidh cuntais bhliantĂșla SCE a fhormheas.

2. Foilseoidh SCE tuarascĂĄil bhliantĂșil ina mbeidh rĂĄiteas iniĂșchta ar a chuntais agus cuirfidh sĂ© timpeall chuig ComhaltaĂ­ SCE rĂĄiteas achomair rĂĄithiĂșil ar a staid airgeadais agus rĂĄiteas sochair agus dochair ina dtaispeĂĄnfar na torthaĂ­ a bhĂ­ ar a chuid oibrĂ­ochtaĂ­.

AIRTEAGAL 28

IniĂșchĂłireacht inmheĂĄnach

BunĂłfar feidhm iniĂșchĂłireachta inmheĂĄnaĂ­ i gcomhrĂ©ir le caighdeĂĄin idirnĂĄisiĂșnta.

AIRTEAGAL 29

IniĂșchĂłireacht sheachtrach

DĂ©anfaidh iniĂșchĂłirĂ­ seachtracha neamhspleĂĄcha, arna bhformheas ag an mBord RialtĂłirĂ­ agus a bheidh freagrach as na rĂĄitis airgeadais bhliantĂșla a dheimhniĂș, cuntais SCE a iniĂșchadh. Beidh lĂĄnchumhacht ag na hiniĂșchĂłirĂ­ seachtracha leabhair agus cuntais uile SCE a scrĂșdĂș agus faisnĂ©is iomlĂĄn a fhĂĄil maidir lena hidirbhearta.

AIRTEAGAL 30

Bord IniĂșchĂłirĂ­

1. Beidh cĂșig chomhalta arna gceapadh ag an mBord RialtĂłirĂ­, mar gheall ar a n‑inniĂșlacht i gcĂșrsaĂ­ iniĂșchĂłireachta agus airgeadais, ar an mBord IniĂșchĂłirĂ­ agus beidh dhĂĄ chomhalta Ăł institiĂșidĂ­ uachtaracha iniĂșchĂłireachta ChomhaltaĂ­ SCE - agus uainĂ­ocht eatarthu - agus comhalta amhĂĄin Ăł ChĂșirt IniĂșchĂłirĂ­ na hEorpa ina measc.

2. Beidh comhaltaĂ­ an Bhoird IniĂșchĂłirĂ­ neamhspleĂĄch. NĂ­ dhĂ©anfaidh siad teagaisc a iarraidh ar chomhlachtaĂ­ rialaithe SCE, ar ChomhaltaĂ­ SCE nĂĄ ar aon chomhlacht poiblĂ­ nĂł prĂ­obhĂĄideach eile, nĂĄ a ghlacadh uathu.

3. DĂ©anfaidh an Bord IniĂșchĂłirĂ­ iniĂșchtaĂ­ neamhspleĂĄcha a tharraingt suas. DĂ©anfaidh sĂ© cigireacht ar chuntais SCE agus fĂ­orĂłidh sĂ© go bhfuil na cuntais oibriĂșchĂĄin agus an clĂĄr comhardaithe in ord. Beidh rochtain iomlĂĄn aige ar aon doicimĂ©ad de chuid SCE is gĂĄ chun a chĂșraimĂ­ a chur i gcrĂ­ch.

4. FĂ©adfaidh an Bord IniĂșchĂłirĂ­, trĂĄth ar bith, an Bord StiĂșrthĂłirĂ­ a chur ar an eolas faoina fhionnachtana. DĂ©anfaidh sĂ© tuarascĂĄil a tharraingt suas, ar bhonn bliantĂșil, ar tuarascĂĄil Ă­ a chuirfear faoi bhrĂĄid an Bhoird RialtĂłirĂ­.

5. Cuirfidh an Bord RialtĂłirĂ­ an tuarascĂĄil bhliantĂșil ar fĂĄil do na parlaimintĂ­ nĂĄisiĂșnta agus d’institiĂșidĂ­ uachtaracha iniĂșchĂłireachta ChomhaltaĂ­ SCE agus do ChĂșirt IniĂșchĂłirĂ­ na hEorpa.

6. DĂ©anfar aon nĂ­ a bhaineann leis an Airteagal seo a mhionsonrĂș i bhfodhlĂ­the SCE.

CAIBIDIL 6

FORĂ?LACHA GINEARĂ?LTA

AIRTEAGAL 31

SuĂ­omh

1. Is i Lucsamburg a bheidh suĂ­omh agus prĂ­omhoifig SCE.

2. FĂ©adfaidh SCE oifig idirchaidrimh a bhunĂș sa BhruisĂ©il.

AIRTEAGAL 32

StĂĄdas dlĂ­thiĂșil, pribhlĂ©idĂ­ agus dĂ­olĂșintĂ­

1. Chun a chumasĂș do SCE a chuspĂłir a chomhall, dĂ©anfar an stĂĄdas dlĂ­thiĂșil agus na pribhlĂ©idĂ­ agus dĂ­olĂșintĂ­ a leagtar amach san Airteagal seo a thabhairt do SCE i gcrĂ­och gach Comhalta de SCE. DĂ©anfaidh SCE gach iarracht aitheantas a fhĂĄil dĂĄ stĂĄdas dlĂ­thiĂșil agus dĂĄ phribhlĂ©idĂ­ agus dĂ­olĂșintĂ­ i gcrĂ­ocha eile ina gcomhlĂ­onann sĂ© feidhmeanna nĂł ina bhfuil sĂłcmhainnĂ­ aige.

2. Beidh lĂĄnphearsantacht dhlĂ­theanach ag SCE. Beidh lĂĄninniĂșlacht dhlĂ­theanach aige chun:

(a) maoin dhochorraithe agus maoin shochorraithe a fhĂĄil agus a dhiĂșscairt;

(b) conradh a dhéanamh;

(c) a bheith ina phĂĄirtĂ­ in imeachtaĂ­ dlĂ­thiĂșla; agus

(d) dul i gcomhaontĂș ceanncheathrĂșn agus/nĂł i bprĂłtacail de rĂ©ir mar is gĂĄ lena ĂĄirithiĂș go dtugtar aitheantas dĂĄ stĂĄdas dlĂ­thiĂșil agus dĂĄ phribhlĂ©idĂ­ agus dĂ­olĂșintĂ­, agus go bhforfheidhmĂ­tear na nithe sin.

3. Beidh ag SCE, a mhaoin, a chistiĂș agus a shĂłcmhainnĂ­, cibĂ© ĂĄit a mbeidh siad suite agus cibĂ© duine ag a mbeidh siad, dĂ­olĂșine Ăł gach sĂłrt prĂłisis bhreithiĂșnaigh ach amhĂĄin a mhĂ©id a bheidh SCE tar Ă©is a dhĂ­olĂșine a tharscaoileadh go sainrĂĄite chun crĂ­ocha aon imeachtaĂ­ nĂł faoi thĂ©armaĂ­ aon chonartha, lena n-ĂĄirĂ­tear doicimĂ©id na n-ionstraimĂ­ maoinithe.

4. Beidh dĂ­olĂșine Ăł chuardach, Ăł fhorĂ©ileamh, Ăł choigistiĂș, Ăł dhĂ­shealbhĂș nĂł aon sĂłrt eile urghabhĂĄla, gabhĂĄla nĂł foriaimh trĂ­ ghnĂ­omhĂș feidhmiĂșchĂĄin, gnĂ­omhĂș breithiĂșnach, gnĂ­omhĂș riarachĂĄin nĂł gnĂ­omhĂș reachtach ag maoin, cistiĂș agus sĂłcmhainnĂ­ SCE, cibĂ© ĂĄit a mbeidh siad suite agus cibĂ© duine ag a mbeidh siad.

5. Beidh cartlanna SCE agus na doiciméid uile ar le SCE iad nó atå ina sheilbh aige doshåraithe.

6. Beidh ĂĄitreabh SCE doshĂĄraithe.

7. Gheobhaidh cumarsĂĄidĂ­ oifigiĂșla SCE an chĂłir chĂ©anna Ăł gach Comhalta de SCE agus Ăł gach stĂĄt a bhfuil aitheantas tugtha aige do stĂĄdas dlĂ­thiĂșil agus do phribhlĂ©idĂ­ agus dĂ­olĂșintĂ­ SCE agus a fhaigheann cumarsĂĄidĂ­ oifigiĂșla Comhalta de SCE.

8. A mhĂ©id is gĂĄ sin chun na gnĂ­omhaĂ­ochtaĂ­ dĂĄ bhforĂĄiltear sa Chonradh seo a dhĂ©anamh, beidh maoin, cistiĂș agus sĂłcmhainnĂ­ uile SCE saor Ăł shrianta, Ăł rialachĂĄin, Ăł rialuithe agus Ăł mhortchairde de chineĂĄl ar bith.

9. Beidh SCE dĂ­olmhaithe Ăł aon cheanglas ĂșdarĂș nĂł ceadĂșnas a fhĂĄil mar institiĂșid chreidmheasa, mar sholĂĄthrĂłir seirbhĂ­sĂ­ infheistĂ­ochta nĂł mar eintiteas Ășdaraithe, ceadĂșnaithe nĂł rialaithe eile faoi dhlĂ­the gach ceann de ChomhaltaĂ­ SCE.

AIRTEAGAL 33

Foireann SCE

Leagfaidh an Bord StiĂșrthĂłirĂ­ sĂ­os na coinnĂ­ollacha fostaĂ­ochta do StiĂșrthĂłir BainistĂ­ochta agus d’fhoireann eile SCE.

AIRTEAGAL 34

RĂșndacht ghairmiĂșil

NĂ­ dhĂ©anfaidh ComhaltaĂ­ nĂĄ iarChomhaltaĂ­ an Bhoird RialtĂłirĂ­ nĂĄ an Bhoird StiĂșrthĂłirĂ­ nĂĄ aon daoine eile a oibrĂ­onn nĂł a d’oibrigh do SCE nĂł i dtaca le SCE faisnĂ©is atĂĄ faoi rĂ©ir rĂșndachta gairmiĂșla a nochtadh. Beidh de cheangal orthu, fiĂș amhĂĄin tar Ă©is deireadh a theacht lena ndualgais, gan faisnĂ©is a nochtadh is de chineĂĄl atĂĄ faoi chumhdach oibleagĂĄid na rĂșndachta gairmiĂșla.

AIRTEAGAL 35

DĂ­olĂșintĂ­ daoine

1. Ar mhaithe le leas SCE, beidh Cathaoirleach an Bhoird RialtĂłirĂ­, na RialtĂłirĂ­, na RialtĂłirĂ­ malartacha, na StiĂșrthĂłirĂ­, na StiĂșrthĂłirĂ­ malartacha, mar aon leis an StiĂșrthĂłir BainistĂ­ochta agus na daoine eile den fhoireann dĂ­olmhaithe Ăł imeachtaĂ­ dlĂ­thiĂșla i leith gnĂ­omhartha a dhĂ©anfaidh siad ina gcĂĄil oifigiĂșil agus beidh doshĂĄraitheacht acu maidir lena bpĂĄipĂ©ir agus lena ndoicimĂ©id oifigiĂșla.

2. FĂ©adfaidh an Bord RialtĂłirĂ­ aon cheann de na dĂ­olĂșintĂ­ a thugtar faoin Airteagal seo i leith Chathaoirleach an Bhoird RialtĂłirĂ­, RialtĂłra, RialtĂłra mhalartaigh, StiĂșrthĂłra, StiĂșrthĂłra mhalartaigh nĂł an StiĂșrthĂłra BainistĂ­ochta a tharscaoileadh a mhĂ©id, agus ar cibĂ© coinnĂ­ollacha, a chinnfidh sĂ©.

3. FĂ©adfaidh an StiĂșrthĂłir BainistĂ­ochta aon dĂ­olĂșine den sĂłrt sin a tharscaoileadh i leith aon duine d’fhoireann SCE, seachas Ă© fĂ©in nĂł Ă­ fĂ©in.

4. Déanfaidh gach Comhalta de SCE an ghníomhaíocht is gå go pras chun éifeacht a thabhairt don Airteagal seo faoi théarmaí a dhlí féin agus cuirfidh sé SCE ar an eolas maidir leis an méid sin då réir sin.

AIRTEAGAL 36

DĂ­olĂșine Ăł chĂĄnachas

1. Faoi chuimsiĂș raon feidhme a ghnĂ­omhaĂ­ochtaĂ­ oifigiĂșla, beidh SCE, a shĂłcmhainnĂ­, a ioncam, a mhaoin agus a oibrĂ­ochtaĂ­ agus a idirbhearta arna n-ĂșdarĂș leis an gConradh seo dĂ­olmhaithe Ăł gach cĂĄin dhĂ­reach.

2. DĂ©anfaidh ComhaltaĂ­ SCE, i ngach cĂĄs inar fĂ©idir sin, na bearta is cuĂ­ chun mĂ©id na gcĂĄnacha neamhdhĂ­reacha nĂł na gcĂĄnacha dĂ­olachĂĄin a bheidh ar ĂĄireamh i bpraghas maoine sochorraithe nĂł dochorraithe a mhaitheamh nĂł a aisĂ­oc nuair a dhĂ©anann SCE, le haghaidh a ĂșsĂĄide oifigiĂșla, ceannachĂĄin shubstaintiĂșla a bhfuil cĂĄnacha den sĂłrt sin ar ĂĄireamh ina bpraghas.

3. NĂ­ dheonĂłfar dĂ­olĂșine ar bith i leith cĂĄnacha agus dleachtanna nach bhfuil iontu ach tĂĄillĂ­ le haghaidh seirbhĂ­sĂ­ fĂłntais phoiblĂ­.

4. Beidh earraĂ­ a allmhaireoidh SCE agus is gĂĄ chun a ghnĂ­omhaĂ­ochtaĂ­ oifigiĂșla a fheidhmiĂș dĂ­olmhaithe Ăł na dleachtanna agus na cĂĄnacha uile ar allmhairĂ­ agus Ăł na toirmisc agus na srianta uile ar allmhairĂ­.

5. Beidh foireann SCE inchurtha faoi chĂĄin inmheĂĄnach, chun tairbhe do SCE, ar thuarastail agus ar dhĂ­olaĂ­ochtaĂ­ a Ă­ocfaidh SCE, faoi rĂ©ir rialacha a ghlacfaidh an Bord RialtĂłirĂ­. Ón dĂĄta a chuirfear an chĂĄin sin i bhfeidhm, beidh tuarastail agus dĂ­olaĂ­ochtaĂ­ den sĂłrt sin dĂ­olmhaithe Ăł chĂĄin ioncaim nĂĄisiĂșnta.

6. NĂ­ thoibheofar cĂĄnachas d’aon saghas ar aon oibleagĂĄid nĂĄ urrĂșs a eiseoidh SCE, lena n‑áirĂ­tear aon Ășs nĂł dĂ­bhinn orthu, cibĂ© duine a shealbhĂłidh iad:

(a) lena ndĂ©antar idirdhealĂș i gcoinne na hoibleagĂĄide nĂł an urrĂșis sin go heisiatach mar gheall ar a bhunadh; nĂł

(b) ar cĂĄnachas Ă© arb Ă© an t-aon bhonn dlĂ­nsiĂșil atĂĄ leis an ĂĄit nĂł an t-airgeadra ina n‑eiseofar Ă© nĂł ina mbeidh sĂ© inĂ­octha nĂł ina n-Ă­ocfar Ă©, nĂł suĂ­omh aon oifige nĂł ĂĄite gnĂł atĂĄ ĂĄ cothabhĂĄil ag SCE.

AIRTEAGAL 37

LĂ©iriĂș agus rĂ©iteach dĂ­ospĂłide

1. Aon cheist a eascrĂłidh idir aon Chomhalta de SCE agus SCE, nĂł idir ComhaltaĂ­ de SCE, maidir le lĂ©iriĂș nĂł cur i bhfeidhm fhorĂĄlacha an Chonartha seo agus fhodhlĂ­the SCE, cuirfear faoi bhrĂĄid an Bhoird StiĂșrthĂłirĂ­ Ă­ le cinneadh a dhĂ©anamh uirthi.

2. DĂ©anfaidh an Bord RialtĂłirĂ­ cinneadh faoi aon dĂ­ospĂłid a eascrĂłidh idir Comhalta de SCE agus SCE, nĂł idir ComhaltaĂ­ de SCE, i dtaobh lĂ©iriĂș agus chur i bhfeidhm an Chonartha seo, lena n-ĂĄirĂ­tear aon dĂ­ospĂłid faoi chomhoiriĂșnacht na gcinntĂ­ a ghlac SCE leis an gConradh seo. DĂ©anfar vĂłtaĂ­ chomhalta nĂł chomhaltaĂ­ Bhord RialtĂłirĂ­ an Chomhalta nĂł na gComhaltaĂ­ de SCE lena mbaineann a fhionraĂ­ nuair a bheidh vĂłtĂĄil ar siĂșl ag an mBord RialtĂłirĂ­ ar an gcinneadh sin agus dĂ©anfar an tairseach vĂłtĂĄla is gĂĄ chun an cinneadh a ghlacadh a athrĂ­omh dĂĄ rĂ©ir.

3. MĂĄ dhĂ©anann Comhalta de SCE an cinneadh dĂĄ dtagraĂ­tear i mĂ­r 2 a chonspĂłid, cuirfear an dĂ­ospĂłid faoi bhrĂĄid ChĂșirt BhreithiĂșnais an Aontais Eorpaigh. Beidh breithiĂșnas ChĂșirt BhreithiĂșnais an Aontais Eorpaigh ina cheangal ar na pĂĄirtithe sa nĂłs imeachta, agus dĂ©anfaidh na pĂĄirtithe sin na bearta is gĂĄ chun an breithiĂșnas a chomhlĂ­onadh laistigh de thrĂ©imhse a chinnfidh an ChĂșirt sin.

AIRTEAGAL 38

Comhar idirnĂĄisiĂșnta

D’fhonn a chuspĂłirĂ­ a chur ar aghaidh, beidh SCE i dteideal comhoibriĂș, faoi chuimsiĂș thĂ©armaĂ­ an Chonartha seo, le CAI, le haon StĂĄt atĂĄ ag solĂĄthar cĂșnamh airgeadais ar bhonn ad hoc do Chomhalta de SCE agus le haon eagraĂ­ocht nĂł le haon eintiteas idirnĂĄisiĂșnta ar a bhfuil sainfhreagrachtaĂ­ i rĂ©imsĂ­ gaolmhara.

CAIBIDIL 7

SOCRUITHE IDIRTHRÉIMHSEACHA

AIRTEAGAL 39

Comhréireacht le hiasachtóireacht SaorCAE

Le linn na cĂ©ime idirthrĂ©imhsĂ­ a mhairfidh Ăł theacht i bhfeidhm an Chonartha seo go dtĂ­ dĂ­scaoileadh iomlĂĄn SaorCAE, nĂ­ rachaidh an iasachtĂłireacht chomhdhlĂșite Ăł SCE agus Ăł SaorCAE thar EUR 500 000 milliĂșn, gan dochar don athbhreithniĂș trĂĄthrialta ar leordhĂłthanacht uasmhĂ©id na hiasachtĂłireachta i gcomhrĂ©ir le hAirteagal 10. Glacfaidh an Bord StiĂșrthĂłirĂ­ treoirlĂ­nte mionsonraithe maidir leis an modh ar a rĂ­omhfar an acmhainn tiomantais don todhchaĂ­ chun a ĂĄirithiĂș nach dtĂ©itear thar an uasteorainn iasachtĂłireachta comhdhlĂșite.

AIRTEAGAL 40

TacaĂ­ochtaĂ­ SaorCAE a aistriĂș

1. De mhaolĂș ar Airteagal 13, fĂ©adfaidh an Bord RialtĂłirĂ­ cinneadh a dhĂ©anamh go ndĂ©anfaidh SCE tiomantais SaorCAE maidir le cĂșnamh airgeadais a sholĂĄthar do Chomhalta de SCE faoina chomhaontĂș leis an gcomhalta sin a ghlacadh air fĂ©in a mhĂ©id a bhaineann na tiomantais sin leis na codanna neamheisĂ­octha agus neamhchistithe de na saorĂĄidĂ­ iasachta.

2. FĂ©adfaidh SCE, mĂĄ ĂșdaraĂ­onn a Bhord RialtĂłirĂ­ an mĂ©id sin, cearta SaorCAE a fhĂĄil agus oibleagĂĄidĂ­ SaorCAE a ghlacadh air fĂ©in, go hĂĄirithe maidir lena cearta agus lena hoibleagĂĄidĂ­ uile, nĂł le cuid dĂ­obh, atĂĄ ar marthain faoina saorĂĄidĂ­ iasachta lĂĄithreacha agus i ndĂĄil leo.

3. Glacfaidh an Bord RialtĂłirĂ­ na mĂłdĂșlachtaĂ­ mionsonraithe is gĂĄ chun Ă©ifeacht a thabhairt d’aistriĂș na n-oibleagĂĄidĂ­ Ăł SaorCAE go dtĂ­ SCE dĂĄ dtagraĂ­tear i mĂ­r 1, agus d’aon aistriĂș ceart agus aistriĂș oibleagĂĄidĂ­ mar a thuairiscĂ­tear i mĂ­r 2.

AIRTEAGAL 41

An caipiteal tosaigh a Ă­oc

1. Gan dochar do mhĂ­r 2, dĂ©anfar scaireanna Ă­octha an mĂ©id a shuibscrĂ­obh gach Comhalta de SCE i dtosach a Ă­oc i bhfoirm cĂșig thrĂĄthchuid bhliantĂșla de 20% den mhĂ©id iomlĂĄn an ceann. Ă?ocfaidh gach Comhalta de SCE an chĂ©ad trĂĄthchuid laistigh de chĂșig lĂĄ dhĂ©ag tar Ă©is an dĂĄta a thiocfaidh an Conradh seo i bhfeidhm. Beidh na ceithre thrĂĄthchuid eile inĂ­octha cothrom bliana, dhĂĄ bhliain, trĂ­ bliana agus ceithre bliana faoi seach Ăłn dĂĄta a Ă­ocfar an chĂ©ad trĂĄthchuid.

2. Le linn na trĂ©imhse cĂșig bliana ina n-Ă­ocfar caipiteal i dtrĂĄthchodanna, dĂ©anfaidh ComhaltaĂ­ SCE Ă­ocaĂ­ocht na scaireanna Ă­octha a luathĂș, go trĂĄthĂșil roimh an dĂĄta eisiĂșna d’fhonn cĂłimheas Ă­osta 15% idir caipiteal Ă­octha agus mĂ©id neamhĂ­octha eisiĂșintĂ­ SCE a choimeĂĄd agus acmhainn chomhcheangailte Ă­osta iasachtĂłireachta EUR 500 000 milliĂșn Ăł SCE agus SaorCAE a rĂĄthĂș.

3. FĂ©adfaidh Comhalta de SCE a chinneadh a scair de chaipiteal Ă­octha a Ă­oc nĂ­os luaithe.

AIRTEAGAL 42

CeartĂș sealadach ar an treoir rannĂ­oca

1. TrĂĄth a bhunaithe, dĂ©anfaidh ComhaltaĂ­ SCE an stoc caipitiĂșil Ășdaraithe a shuibscrĂ­obh ar bhonn na treorach rannĂ­oca tosaigh a shonraĂ­tear in IarscrĂ­bhinn I. Beidh an ceartĂș sealadach atĂĄ ar ĂĄireamh sa treoir rannĂ­oca tosaigh sin i bhfeidhm ar feadh trĂ©imhse dhĂĄ bhliain dĂ©ag tar Ă©is an dĂĄta a ghlacfaidh an Comhalta de SCE i dtrĂĄcht an euro.

2. I gcĂĄs gur lĂș olltĂĄirgeacht intĂ­re (OTI) Comhalta nua de SCE in aghaidh an duine ar mhargadhphraghsanna in euro sa bhliain dĂ­reach roimh a aontachas do SCE nĂĄ 75% de mheĂĄn-olltĂĄirgeacht intĂ­re an Aontais Eorpaigh in aghaidh an duine ar mhargadhphraghsanna, bainfidh a threoir rannĂ­oca le haghaidh shuibscrĂ­obh stoc caipitiĂșil Ășdaraithe SCE, arna cinneadh i gcomhrĂ©ir le hAirteagal 10, tairbhe as ceartĂș sealadach agus is ionann Ă© agus suim:

(a) 25% de scair chĂ©atadĂĄnach bhanc ceannais nĂĄisiĂșnta an Chomhalta sin de SCE i gcaipiteal BCE, arna cinneadh i gcomhrĂ©ir le hAirteagal 29 de Reacht CEBC; agus

(b) 75% de scair chĂ©atadĂĄnach an Chomhalta sin de SCE in ollioncam nĂĄisiĂșnta (OIN) an limistĂ©ir euro ar mhargadhphraghsanna in euro sa bhliain dĂ­reach roimh a aontachas do SCE.

CothromĂłfar na cĂ©atadĂĄin dĂĄ dtagraĂ­tear i bpointe (a) agus i bpointe (b) suas nĂł sĂ­os go dtĂ­ an t‑iolraĂ­ is gaire de 0,0001 faoin gcĂ©ad. Is iad na tĂ©armaĂ­ staidrimh a fhoilseoidh Eurostat na tĂ©armaĂ­ a bheidh i bhfeidhm.

3. Beidh feidhm ag an gceartĂș sealadach dĂĄ dtagraĂ­tear i mĂ­r 2 ar feadh trĂ©imhse dhĂĄ bhliain dĂ©ag Ăłn dĂĄta a ghlacfaidh an Comhalta de SCE i dtrĂĄcht an euro.

4. De thoradh an cheartaithe shealadaigh ar an treoir, dĂ©anfar an sciar iomchuĂ­ de scaireanna a leithroinneadh ar Chomhalta de SCE de bhun mhĂ­r 2 a leithroinnt arĂ­s i measc na gComhaltaĂ­ sin de SCE nach bhfuil ag baint tairbhe as ceartĂș sealadach ar bhonn a scairshealbhaĂ­ochta in BCE, arna chinneadh i gcomhrĂ©ir le hAirteagal 29 de Reacht CEBC, a bhĂ­ ann dĂ­reach sular eisĂ­odh scaireanna don Chomhalta aontach de SCE.

AIRTEAGAL 43

Na chéad cheapachåin

1. Ainmneoidh gach Comhalta de SCE a RialtĂłir agus a RialtĂłir malartach laistigh de dhĂĄ sheachtain Ăł theacht i bhfeidhm an Chonartha seo.

2. Ceapfaidh an Bord RialtĂłirĂ­ an StiĂșrthĂłir BainistĂ­ochta agus ceapfaidh gach RialtĂłir faoi seach StiĂșrthĂłir agus StiĂșrthĂłir malartach laistigh de dhĂĄ mhĂ­ Ăł theacht i bhfeidhm an Chonartha seo.

CAIBIDIL 8

FORĂ?LACHA CRĂ?OCHNAITHEACHA

AIRTEAGAL 44

Aontachas

Beidh an Conradh seo ar oscailt le haghaidh aontachais BallstĂĄt eile den Aontas Eorpach i gcomhrĂ©ir le hAirteagal 2 ar iarratas ar chomhaltas a chomhdĂłidh aon BhallstĂĄt den sĂłrt sin den Aontas Eorpach le SCE tar Ă©is do Chomhairle an Aontais Eorpaigh an cinneadh a ghlacadh lena n-aisghairtear an maolĂș atĂĄ ag an mBallstĂĄt sin gan an euro a ghlacadh i gcomhrĂ©ir le hAirteagal 140(2) CFAE. DĂ©anfaidh an Bord RialtĂłirĂ­ iarratas ar aontachas an Chomhalta nua de SCE agus na tĂ©armaĂ­ teicniĂșla mionsonraithe a bhaineann leis a fhormheas, chomh maith leis na hoiriĂșnuithe a bheidh le dĂ©anamh ar an gConradh seo de thoradh dĂ­reach an aontachais. Tar Ă©is don Bhord RialtĂłirĂ­ an t-iarratas ar chomhaltas a fhormheas, dĂ©anfaidh comhaltaĂ­ nua de SCE an t-aontachas trĂĄth a thaiscfear na hionstraimĂ­ aontachais leis an TaiscĂ­, agus cuirfidh an TaiscĂ­ fĂłgra faoin mĂ©id sin chuig na ComhaltaĂ­ eile de SCE.

AIRTEAGAL 45

Na hIarscrĂ­bhinnĂ­

Is cuid dhĂ­lis den Chonradh seo na hIarscrĂ­bhinnĂ­ seo a leanas a ghabhann leis:

(1) IarscrĂ­bhinn I: Treoir rannĂ­oca SCE; agus

(2) IarscrĂ­bhinn II: SuibscrĂ­obhanna leis an stoc caipitiĂșil Ășdaraithe.

AIRTEAGAL 46

Taisceadh

DĂ©anfar an Conradh seo a thaisceadh le hArdrĂșnaĂ­ocht Chomhairle an Aontais Eorpaigh (“an TaiscĂ­”), agus cuirfidh an TaiscĂ­ cĂłipeanna deimhnithe chuig gach SĂ­nitheoir.

AIRTEAGAL 47

DaingniĂș, formheas nĂł glacadh

1. Beidh an Conradh seo faoi rĂ©ir a dhaingnithe, a fhormheasa nĂł a ghlactha ag na SĂ­nitheoirĂ­. DĂ©anfar ionstraimĂ­ daingniĂșchĂĄin, formheasa nĂł glactha a thaisceadh leis an TaiscĂ­.

2. Cuirfidh an Taiscí fógra chuig na Sínitheoirí eile maidir le gach taisceadh agus an dåta a dhéantar é.

AIRTEAGAL 48

Teacht i bhfeidhm

1. Tiocfaidh an Conradh seo i bhfeidhm an dĂĄta a dhĂ©anfaidh na SĂ­nitheoirĂ­, a bhfuil a suibscrĂ­bhinnĂ­ tosaigh in ionannas le 90% ar a laghad d’iomlĂĄn na suibscrĂ­obhanna atĂĄ leagtha amach in IarscrĂ­bhinn II, ionstraimĂ­ daingniĂșchĂĄin, formheasa nĂł glactha a thaisceadh. I gcĂĄs gur cuĂ­, dĂ©anfar an liosta de ChomhaltaĂ­ SCE a choigeartĂș; dĂ©anfar an treoir in IarscrĂ­bhinn I a athrĂ­omh ansin agus dĂ©anfar iomlĂĄn an stoic chaipitiĂșil Ășdaraithe in Airteagal 8(1) agus in IarscrĂ­bhinn II agus luach ainmniĂșil comhiomlĂĄn tosaigh iomlĂĄn na scaireanna Ă­octha in Airteagal 8(2) a laghdĂș dĂĄ rĂ©ir.

2. Tiocfaidh an Conradh seo i bhfeidhm, i gcĂĄs gach SĂ­nitheora a thaiscfidh a ionstraim daingniĂșchĂĄin, formheasa nĂł glactha dĂĄ Ă©is sin, an lĂĄ tar Ă©is dhĂĄta an taiscthe.

3. I gcĂĄs gach StĂĄit a aontaĂ­onn don Chonradh seo i gcomhrĂ©ir le hAirteagal 44, tiocfaidh an Conradh seo i bhfeidhm an fichiĂș lĂĄ tar Ă©is don StĂĄt a ionstraim aontachais a thaisceadh.

Arna dhĂ©anamh sa BhruisĂ©il an dara lĂĄ d’Fheabhra sa bhliain dhĂĄ mhĂ­le a dĂł dhĂ©ag i scrĂ­bhinn bhunaidh amhĂĄin sa BhĂ©arla, san EastĂłinis, san Fhionlainnis, sa Fhraincis, sa Ghaeilge, sa GhearmĂĄinis, sa GhrĂ©igis, san IodĂĄilis, sa MhĂĄltais, san Ollainnis, sa PhortaingĂ©ilis, sa tSlĂłvaicis, sa tSlĂłivĂ©inis, sa SpĂĄinnis agus sa tSualainnis, agus comhĂșdarĂĄs ag na tĂ©acsanna i ngach ceann de na teangacha sin, agus taiscfear Ă© i gcartlann an TaiscĂ­ agus cuirfidh an TaiscĂ­ cĂłip chuĂ­dheimhnithe chuig gach ceann de na PĂĄirtithe Conarthacha.

TrĂĄth aontachas Phoblacht na Laitvia, beidh comhĂșdarĂĄs ag an tĂ©acs Laitvise a thaiscfear i gcartlann an TaiscĂ­ agus cuirfidh an TaiscĂ­ cĂłip chuĂ­dheimhnithe chuig gach ceann de na PĂĄirtithe Conarthacha.

TrĂĄth aontachas Phoblacht na LiotuĂĄine, beidh comhĂșdarĂĄs ag an tĂ©acs LiotuĂĄinise a thaiscfear i gcartlann an TaiscĂ­ agus cuirfidh an TaiscĂ­ cĂłip chuĂ­dheimhnithe chuig gach ceann de na PĂĄirtithe Conarthacha.

IARSCRĂ?BHINN I

Effective as of 1 January 2021, upon the end of the temporary correction applicable to Slovakia.

Contribution Key of the ESM

ESM Member

ESM key (%)

Kingdom of Belgium

3.4454

Federal Republic of Germany

26.8992

Republic of Estonia

0.1847

Ireland

1.5777

Hellenic Republic

2.7910

Kingdom of Spain

11.7953

French Republic

20.2003

Italian Republic

17.7506

Republic of Cyprus

0.1945

Republic of Latvia

0.2746

Republic of Lithuania

0.4063

Grand Duchy of Luxembourg

0.2482

Malta

0.0898

Kingdom of the Netherlands

5.6650

Republic of Austria

2.7581

Portuguese Republic

2.4863

Republic of Slovenia

0.4670

Slovak Republic

0.9849

Republic of Finland

1.7811

Total

100.0

The above figures are rounded to four decimals.

IARSCRĂ?BHINN II

Effective as of 1 January 2021, upon the end of the temporary correction applicable to Slovakia.

Subscriptions to the authorised capital stock

ESM Member

Number of shares

Capital subscription (EUR)

Kingdom of Belgium

242 832

24 283 200 000

Federal Republic of Germany

1 895 854

189 585 400 000

Republic of Estonia

13 020

1 302 000 000

Ireland

111 195

11 119 500 000

Hellenic Republic

196 710

19 671 000 000

Kingdom of Spain

831 332

83 133 200 000

French Republic

1 423 716

142 371 600 000

Italian Republic

1 251 062

125 106 200 000

Republic of Cyprus

13 705

1 370 500 000

Republic of Latvia

19 353

1 935 300 000

Republic of Lithuania

28 634

2 863 400 000

Grand Duchy of Luxembourg

17 490

1 749 000 000

Malta

6 327

632 700 000

Kingdom of the Netherlands

399 267

39 926 700 000

Republic of Austria

194 388

19 438 800 000

Portuguese Republic

175 236

17 523 600 000

Republic of Slovenia

32 917

3 291 700 000

Slovak Republic

69 418

6 941 800 000

Republic of Finland

125 531

12 553 100 000

Total

7 047 987

704 798 700 000

PART 2

Text of ESM Treaty in the English Language

TREATY

ESTABLISHING THE EUROPEAN STABILITY MECHANISM

BETWEEN THE KINGDOM OF BELGIUM, THE FEDERAL REPUBLIC OF GERMANY,

THE REPUBLIC OF ESTONIA, IRELAND, THE HELLENIC REPUBLIC,

THE KINGDOM OF SPAIN, THE FRENCH REPUBLIC,

THE ITALIAN REPUBLIC, THE REPUBLIC OF CYPRUS, THE REPUBLIC OF LATVIA,

THE REPUBLIC OF LITHUANIA, THE GRAND DUCHY OF LUXEMBOURG, MALTA,

THE KINGDOM OF THE NETHERLANDS, THE REPUBLIC OF AUSTRIA,

THE PORTUGUESE REPUBLIC, THE REPUBLIC OF SLOVENIA,

THE SLOVAK REPUBLIC AND THE REPUBLIC OF FINLAND

THE CONTRACTING PARTIES, the Kingdom of Belgium, the Federal Republic of Germany, the Republic of Estonia, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, Malta, the Kingdom of the Netherlands, the Republic of Austria, the Portuguese Republic, the Republic of Slovenia, the Slovak Republic and the Republic of Finland (the “euro area Member States” or “ESM Members”);

COMMITTED TO ensuring the financial stability of the euro area;

RECALLING the Conclusions of the European Council adopted on 25 March 2011 on the establishment of a European stability mechanism;

WHEREAS:

(1) The European Council agreed on 17 December 2010 on the need for euro area Member States to establish a permanent stability mechanism. This European Stability Mechanism (“ESM”) will assume the tasks currently fulfilled by the European Financial Stability Facility (“EFSF”) and the European Financial Stabilisation Mechanism (“EFSM”) in providing, where needed, financial assistance to euro area Member States.

(2) On 25 March 2011, the European Council adopted Decision 2011/199/EU amending Article 136 of the Treaty on the Functioning of the European Union with regard to a stability mechanism for Member States whose currency is the euro12 adding the following paragraph to Article 136: “The Member States whose currency is the euro may establish a stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a whole. The granting of any required financial assistance under the mechanism will be made subject to strict conditionality”.

(3) With a view to increasing the effectiveness of the financial assistance and to prevent the risk of financial contagion, the Heads of State or Government of the Member States whose currency is the euro agreed on 21 July 2011 to “increase [the] flexibility [of the ESM] linked to appropriate conditionality”.

(4) Strict observance of the European Union framework, the integrated macro-economic surveillance, in particular the Stability and Growth Pact, the macroeconomic imbalances framework and the economic governance rules of the European Union, should remain the first line of defence against confidence crises affecting the stability of the euro area.

(5) On 9 December 2011 the Heads of State or Government of the Member States whose currency is the euro agreed to move towards a stronger economic union including a new fiscal compact and strengthened economic policy coordination to be implemented through an international agreement, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (“TSCG”). The TSCG will help develop a closer coordination within the euro area with a view to ensuring a lasting, sound and robust management of public finances and thus addresses one of the main sources of financial instability. This Treaty and the TSCG are complementary in fostering fiscal responsibility and solidarity within the economic and monetary union. It is acknowledged and agreed that the granting of financial assistance in the framework of new programmes under the ESM will be conditional, as of 1 March 2013, on the ratification of the TSCG by the ESM Member concerned and, upon expiration of the transposition period referred to in Article 3(2) TSCG on compliance with the requirements of that article.

(6) Given the strong interrelation within the euro area, severe risks to the financial stability of Member States whose currency is the euro may put at risk the financial stability of the euro area as a whole. The ESM may therefore provide stability support on the basis of a strict conditionality, appropriate to the financial assistance instrument chosen if indispensable to safeguard the financial stability of the euro area as a whole and of its Member States. The initial maximum lending volume of the ESM is set at EUR 500 000 million, including the outstanding EFSF stability support. The adequacy of the consolidated ESM and EFSF maximum lending volume will, however, be reassessed prior to the entry into force of this Treaty. If appropriate, it will be increased by the Board of Governors of the ESM, in accordance with Article 10, upon entry into force of this Treaty.

(7) All euro area Member States will become ESM Members. As a consequence of joining the euro area, a Member State of the European Union should become an ESM Member with full rights and obligations, in line with those of the Contracting Parties.

(8) The ESM will cooperate very closely with the International Monetary Fund (“IMF”) in providing stability support. The active participation of the IMF will be sought, both at technical and financial level. A euro area Member State requesting financial assistance from the ESM is expected to address, wherever possible, a similar request to the IMF.

(9) Member States of the European Union whose currency is not the euro (“non euro area Member States”) participating on an ad hoc basis alongside the ESM in a stability support operation for euro area Member States will be invited to participate, as observers, in the ESM meetings when this stability support and its monitoring will be discussed. They will have access to all information in a timely manner and be properly consulted.

(10) On 20 June 2011, the representatives of the Governments of the Member States of the European Union authorised the Contracting Parties of this Treaty to request the European Commission and the European Central Bank (“ECB”) to perform the tasks provided for in this Treaty.

(11) In its statement of 28 November 2010, the Euro Group stated that standardised and identical Collective Action Clauses (“CACs”) will be included, in such a way as to preserve market liquidity, in the terms and conditions of all new euro area government bonds. As requested by the European Council on 25 March 2011, the detailed legal arrangements for including CACs in euro area government securities were finalised by the Economic and Financial Committee.

(12) In accordance with IMF practice, in exceptional cases an adequate and proportionate form of private sector involvement shall be considered in cases where stability support is provided accompanied by conditionality in the form of a macro-economic adjustment programme.

(13) Like the IMF, the ESM will provide stability support to an ESM Member when its regular access to market financing is impaired or is at risk of being impaired. Reflecting this, Heads of State or Government have stated that the ESM loans will enjoy preferred creditor status in a similar fashion to those of the IMF, while accepting preferred creditor status of the IMF over the ESM. This status will be effective as of the date of entry into force of this Treaty. In the event of ESM financial assistance in the form of ESM loans following a European financial assistance programme existing at the time of the signature of this Treaty, the ESM will enjoy the same seniority as all other loans and obligations of the beneficiary ESM Member, with the exception of the IMF loans.

(14) The euro area Member States will support equivalent creditor status of the ESM and that of other States lending bilaterally in coordination with the ESM.

(15) ESM lending conditions for Member States subject to a macroeconomic adjustment programme, including those referred to in Article 40 of this Treaty, shall cover the financing and operating costs of the ESM and should be consistent with the lending conditions of the Financial Assistance Facility Agreements signed between the EFSF, Ireland and the Central Bank of Ireland on the one hand and the EFSF, the Portuguese Republic and Banco de Portugal on the other.

(16) Disputes concerning the interpretation and application of this Treaty arising between the Contracting Parties or between the Contracting Parties and the ESM should be submitted to the jurisdiction of the Court of Justice of the European Union, in accordance with Article 273 of the Treaty on the Functioning of the European Union (“TFEU”).

(17) Post-programme surveillance will be carried out by the European Commission and by the Council of the European Union within the framework laid down in Articles 121 and 136 TFEU,

HAVE AGREED AS FOLLOWS:

Chapter 1

MEMBERSHIP AND PURPOSE

ARTICLE 1

Establishment and members

1. By this Treaty, the Contracting Parties establish among themselves an international financial institution, to be named the “European Stability Mechanism” (“ESM”).

2. The Contracting Parties are ESM Members.

ARTICLE 2

New members

1. Membership in the ESM shall be open to the other Member States of the European Union as from the entry into force of the decision of the Council of the European Union taken in accordance with Article 140(2) TFEU to abrogate their derogation from adopting the euro.

2. New ESM Members shall be admitted on the same terms and conditions as existing ESM Members, in accordance with Article 44.

3. A new member acceding to the ESM after its establishment shall receive shares in the ESM in exchange for its capital contribution, calculated in accordance with the contribution key provided for in Article 11.

ARTICLE 3

Purpose

The purpose of the ESM shall be to mobilise funding and provide stability support under strict conditionality, appropriate to the financial assistance instrument chosen, to the benefit of ESM Members which are experiencing, or are threatened by, severe financing problems, if indispensable to safeguard the financial stability of the euro area as a whole and of its Member States. For this purpose, the ESM shall be entitled to raise funds by issuing financial instruments or by entering into financial or other agreements or arrangements with ESM Members, financial institutions or other third parties.

Chapter 2

GOVERNANCE

ARTICLE 4

Structure and voting rules

1. The ESM shall have a Board of Governors and a Board of Directors, as well as a Managing Director and other dedicated staff as may be considered necessary.

2. The decisions of the Board of Governors and the Board of Directors shall be taken by mutual agreement, qualified majority or simple majority as specified in this Treaty. In respect of all decisions, a quorum of 2/3 of the members with voting rights representing at least 2/3 of the voting rights must be present.

3. The adoption of a decision by mutual agreement requires the unanimity of the members participating in the vote. Abstentions do not prevent the adoption of a decision by mutual agreement.

4. By way of derogation from paragraph 3, an emergency voting procedure shall be used where the Commission and the ECB both conclude that a failure to urgently adopt a decision to grant or implement financial assistance, as defined in Articles 13 to 18, would threaten the economic and financial sustainability of the euro area. The adoption of a decision by mutual agreement by the Board of Governors referred to in points (f) and (g) of Article 5(6) and the Board of Directors under that emergency procedure requires a qualified majority of 85% of the votes cast.

Where the emergency procedure referred to in the first subparagraph is used, a transfer from the reserve fund and/or the paid-in capital to an emergency reserve fund is made in order to constitute a dedicated buffer to cover the risks arising from the financial support granted under that emergency procedure. The Board of Governors may decide to cancel the emergency reserve fund and transfer its content back to the reserve fund and/or paid-in capital.

5. The adoption of a decision by qualified majority requires 80% of the votes cast.

6. The adoption of a decision by simple majority requires a majority of the votes cast.

7. The voting rights of each ESM Member, as exercised by its appointee or by the latter’s representative on the Board of Governors or Board of Directors, shall be equal to the number of shares allocated to it in the authorised capital stock of the ESM as set out in Annex II.

8. If any ESM Member fails to pay any part of the amount due in respect of its obligations in relation to paid-in shares or calls of capital under Articles 8, 9 and 10, or in relation to the reimbursement of the financial assistance under Article 16 or 17, such ESM Member shall be unable, for so long as such failure continues, to exercise any of its voting rights. The voting thresholds shall be recalculated accordingly.

ARTICLE 5

Board of Governors

1. Each ESM Member shall appoint a Governor and an alternate Governor. Such appointments are revocable at any time. The Governor shall be a member of the government of that ESM Member who has responsibility for finance. The alternate Governor shall have full power to act on behalf of the Governor when the latter is not present.

2. The Board of Governors shall decide either to be chaired by the President of the Euro Group, as referred to in Protocol (No 14) on the Euro Group annexed to the Treaty on the European Union and to the TFEU or to elect a Chairperson and a Vice-Chairperson from among its members for a term of two years. The Chairperson and the Vice-Chairperson may be re-elected. A new election shall be organised without delay if the incumbent no longer holds the function needed for being designated Governor.

3. The Member of the European Commission in charge of economic and monetary affairs and the President of the ECB, as well as the President of the Euro Group (if he or she is not the Chairperson or a Governor) may participate in the meetings of the Board of Governors as observers.

4. Representatives of non-euro area Member States participating on an ad hoc basis alongside the ESM in a stability support operation for a euro area Member State shall also be invited to participate, as observers, in the meetings of the Board of Governors when this stability support and its monitoring will be discussed.

5. Other persons, including representatives of institutions or organisations, such as the IMF, may be invited by the Board of Governors to attend meetings as observers on an ad hoc basis.

6. The Board of Governors shall take the following decisions by mutual agreement:

(a) to cancel the emergency reserve fund and transfer its content back to the reserve fund and/or paid-in capital, in accordance with Article 4(4);

(b) to issue new shares on terms other than at par, in accordance with Article 8(2);

(c) to make the capital calls, in accordance with Article 9(1);

(d) to change the authorised capital stock and adapt the maximum lending volume of the ESM, in accordance with Article 10(1);

(e) to take into account a possible update of the key for the subscription of the ECB capital, in accordance with Article 11(3), and the changes to be made to Annex I in accordance with Article 11(6);

(f) to provide stability support by the ESM, including the economic policy conditionality as stated in the memorandum of understanding referred to in Article 13(3), and to establish the choice of instruments and the financial terms and conditions, in accordance with Articles 12 to 18;

(g) to give a mandate to the European Commission to negotiate, in liaison with the ECB, the economic policy conditionality attached to each financial assistance, in accordance with Article 13(3);

(h) to change the pricing policy and pricing guideline for financial assistance, in accordance with Article 20;

(i) to change the list of financial assistance instruments that may be used by the ESM, in accordance with Article 19;

(j) to establish the modalities of the transfer of EFSF support to the ESM, in accordance with Article 40;

(k) to approve the application for membership of the ESM by new members, referred to in Article 44;

(l) to make adaptations to this Treaty as a direct consequence of the accession of new members, including changes to be made to the distribution of capital among ESM Members and the calculation of such a distribution as a direct consequence of the accession of a new member to the ESM, in accordance with Article 44; and

(m) to delegate to the Board of Directors the tasks listed in this Article.

7. The Board of Governors shall take the following decisions by qualified majority:

(a) to set out the detailed technical terms of accession of a new member to the ESM, in accordance with Article 44;

(b) whether to be chaired by the President of the Euro Group or to elect, by qualified majority, the Chairperson and Vice-Chairperson of the Board of Governors, in accordance with paragraph 2;

(c) to set out by-laws of the ESM and the rules of procedure applicable to the Board of Governors and Board of Directors (including the right to establish committees and subsidiary bodies), in accordance with paragraph 9;

(d) to determine the list of activities incompatible with the duties of a Director or an alternate Director, in accordance with Article 6(8);

(e) to appoint and to end the term of office of the Managing Director, in accordance with Article 7;

(f) to establish other funds, in accordance with Article 24;

(g) on the actions to be taken for recovering a debt from an ESM Member, in accordance with Article 25(2) and (3);

(h) to approve the annual accounts of the ESM, in accordance with Article 27(1);

(i) to appoint the members of the Board of Auditors, in accordance with Article 30(1);

(j) to approve the external auditors, in accordance with Article 29;

(k) to waive the immunity of the Chairperson of the Board of Governors, a Governor, alternate Governor, Director, alternate Director or the Managing Director, in accordance with Article 35(2);

(l) to determine the taxation regime applicable to the ESM staff, in accordance with Article 36(5);

(m) on a dispute, in accordance with Article 37(2) ; and

(n) any other necessary decision not explicitly provided for by this Treaty.

8. The Chairperson shall convene and preside over the meetings of the Board of Governors. The Vice-Chairperson shall preside over these meetings when the Chairperson is unable to participate.

9. The Board of Governors shall adopt their rules of procedure and the by-laws of the ESM.

ARTICLE 6

Board of Directors

1. Each Governor shall appoint one Director and one alternate Director from among people of high competence in economic and financial matters. Such appointments shall be revocable at any time. The alternate Directors shall have full power to act on behalf of the Director when the latter is not present.

2. The Member of the European Commission in charge of economic and monetary affairs and the President of the ECB may appoint one observer each.

3. Representatives of non-euro area Member States participating on an ad hoc basis alongside the ESM in a financial assistance operation for a euro area Member State shall also be invited to participate, as observers, in the meetings of the Board of Directors when this financial assistance and its monitoring will be discussed.

4. Other persons, including representatives of institutions or organisations, may be invited by the Board of Governors to attend meetings as observers on an ad hoc basis.

5. The Board of Directors shall take decisions by qualified majority, unless otherwise stated in this Treaty. Decisions to be taken on the basis of powers delegated by the Board of Governors shall be adopted in accordance with the relevant voting rules set in Article 5(6) and (7).

6. Without prejudice to the powers of the Board of Governors as set out in Article 5, the Board of Directors shall ensure that the ESM is run in accordance with this Treaty and the by-laws of the ESM adopted by the Board of Governors. It shall take decisions as provided for in this Treaty or which are delegated to it by the Board of Governors.

7. Any vacancy in the Board of Directors shall be immediately filled in accordance with paragraph 1.

8. The Board of Governors shall lay down what activities are incompatible with the duties of a Director or an alternate Director, the by-laws of the ESM and rules of procedure of the Board of Directors.

ARTICLE 7

Managing Director

1. The Managing Director shall be appointed by the Board of Governors from among candidates having the nationality of an ESM Member, relevant international experience and a high level of competence in economic and financial matters. Whilst holding office, the Managing Director may not be a Governor or Director or an alternate of either.

2. The term of office of the Managing Director shall be five years. He or she may be re-appointed once. The Managing Director shall, however, cease to hold office when the Board of Governors so decides.

3. The Managing Director shall chair the meetings of the Board of Directors and shall participate in the meetings of the Board of Governors.

4. The Managing Director shall be chief of the staff of the ESM. He or she shall be responsible for organising, appointing and dismissing staff in accordance with staff rules to be adopted by the Board of Directors.

5. The Managing Director shall be the legal representative of the ESM and shall conduct, under the direction of the Board of Directors, the current business of the ESM.

Chapter 3

CAPITAL

ARTICLE 8

Authorised capital stock

1. The authorised capital stock shall be EUR 704 798.7 million. It shall be divided into seven million forty-seven thousand nine hundred and eighty-seven shares, having a nominal value of EUR 100 000 each, which shall be available for subscription according to the initial contribution key provided for in Article 11 and calculated in Annex I.

2. The authorised capital stock shall be divided into paid-in shares and callable shares. The initial total aggregate nominal value of paid-in shares shall be EUR 80 548.4 million. Shares of authorised capital stock initially subscribed shall be issued at par. Other shares shall be issued at par, unless the Board of Governors decides to issue them in special circumstances on other terms.

3. Shares of authorised capital stock shall not be encumbered or pledged in any manner whatsoever and they shall not be transferable, with the exception of transfers for the purposes of implementing adjustments of the contribution key provided for in Article 11 to the extent necessary to ensure that the distribution of shares corresponds to the adjusted key.

4. ESM Members hereby irrevocably and unconditionally undertake to provide their contribution to the authorised capital stock, in accordance with their contribution key in Annex I. They shall meet all capital calls on a timely basis in accordance with the terms set out in this Treaty.

5. The liability of each ESM Member shall be limited, in all circumstances, to its portion of the authorised capital stock at its issue price. No ESM Member shall be liable, by reason of its membership, for obligations of the ESM. The obligations of ESM Members to contribute to the authorised capital stock in accordance with this Treaty are not affected if any such ESM Member becomes eligible for, or is receiving, financial assistance from the ESM.

ARTICLE 9

Capital calls

1. The Board of Governors may call in authorised unpaid capital at any time and set an appropriate period of time for its payment by the ESM Members.

2. The Board of Directors may call in authorised unpaid capital by simple majority decision to restore the level of paid-in capital if the amount of the latter is reduced by the absorption of losses below the level established in Article 8(2), as may be amended by the Board of Governors following the procedure provided for in Article 10, and set an appropriate period of time for its payment by the ESM Members.

3. The Managing Director shall call authorised unpaid capital in a timely manner if needed to avoid the ESM being in default of any scheduled or other payment obligation due to ESM creditors. The Managing Director shall inform the Board of Directors and the Board of Governors of any such call. When a potential shortfall in ESM funds is detected, the Managing Director shall make such capital call(s) as soon as possible with a view to ensuring that the ESM shall have sufficient funds to meet payments due to creditors in full on their due date. ESM Members hereby irrevocably and unconditionally undertake to pay on demand any capital call made on them by the Managing Director pursuant to this paragraph, such demand to be paid within seven days of receipt.

4. The Board of Directors shall adopt the detailed terms and conditions which shall apply to calls on capital pursuant to this Article.

ARTICLE 10

Changes in authorised capital stock

1. The Board of Governors shall review regularly and at least every five years the maximum lending volume and the adequacy of the authorised capital stock of the ESM. It may decide to change the authorised capital stock and amend Article 8 and Annex II accordingly. Such decision shall enter into force after the ESM Members have notified the Depositary of the completion of their applicable national procedures. The new shares shall be allocated to the ESM Members according to the contribution key provided for in Article 11 and in Annex I.

2. The Board of Directors shall adopt the detailed terms and conditions which shall apply to all or any capital changes made under paragraph 1.

3. Upon a Member State of the European Union becoming a new ESM Member, the authorised capital stock of the ESM shall be automatically increased by multiplying the respective amounts then prevailing by the ratio, within the adjusted contribution key provided for in Article 11, between the weighting of the new ESM Member and the weighting of the existing ESM Members.

ARTICLE 11

Contribution key

1. The contribution key for subscribing to ESM authorised capital stock shall, subject to paragraphs 2 and 3, be based on the key for subscription, by the national central banks of ESM Members, of the ECB’s capital pursuant to Article 29 of Protocol (No 4) on the Statute of the European System of Central Banks and of the European Central Bank (the “ESCB Statute”) annexed to the Treaty on European Union and to the TFEU.

2. The contribution key for the subscription of the ESM authorised capital stock is specified in Annex I.

3. The contribution key for the subscription of the ESM authorised capital stock shall be adjusted when:

(a) a Member State of the European Union becomes a new ESM Member and the ESM’s authorised capital stock automatically increases, as specified in Article 10(3) ; or

(b) the twelve year temporary correction applicable to an ESM Member established in accordance with Article 42 ends.

4. The Board of Governors may decide to take into account possible updates to the key for the subscription of the ECB’s capital referred to in paragraph 1 when the contribution key is adjusted in accordance with paragraph 3 or when there is a change in the authorised capital stock, as specified in Article 10(1).

5. When the contribution key for the subscription of the ESM authorised capital stock is adjusted, the ESM Members shall transfer among themselves authorised capital stock to the extent necessary to ensure that the distribution of authorised capital stock corresponds to the adjusted key.

6. Annex I shall be amended upon decision by the Board of Governors upon any adjustment referred to in this Article.

7. The Board of Directors shall take all other measures necessary for the application of this Article.

Chapter 4

OPERATIONS

ARTICLE 12

Principles

1. If indispensable to safeguard the financial stability of the euro area as a whole and of its Member States, the ESM may provide stability support to an ESM Member subject to strict conditionality, appropriate to the financial assistance instrument chosen. Such conditionality may range from a macro-economic adjustment programme to continuous respect of pre-established eligibility conditions.

2. Without prejudice to Article 19, ESM stability support may be granted through the instruments provided for in Articles 14 to 18.

3. Collective action clauses shall be included, as of 1 January 2013, in all new euro area government securities, with maturity above one year, in a way which ensures that their legal impact is identical.

ARTICLE 13

Procedure for granting stability support

1. An ESM Member may address a request for stability support to the Chairperson of the Board of Governors. Such a request shall indicate the financial assistance instrument(s) to be considered. On receipt of such a request, the Chairperson of the Board of Governors shall entrust the European Commission, in liaison with the ECB, with the following tasks:

(a) to assess the existence of a risk to the financial stability of the euro area as a whole or of its Member States, unless the ECB has already submitted an analysis under Article 18(2);

(b) to assess whether public debt is sustainable. Wherever appropriate and possible, such an assessment is expected to be conducted together with the IMF;

(c) to assess the actual or potential financing needs of the ESM Member concerned.

2. On the basis of the request of the ESM Member and the assessment referred to in paragraph 1, the Board of Governors may decide to grant, in principle, stability support to the ESM Member concerned in the form of a financial assistance facility.

3. If a decision pursuant to paragraph 2 is adopted, the Board of Governors shall entrust the European Commission - in liaison with the ECB and, wherever possible, together with the IMF - with the task of negotiating, with the ESM Member concerned, a memorandum of understanding (an “MoU”) detailing the conditionality attached to the financial assistance facility. The content of the MoU shall reflect the severity of the weaknesses to be addressed and the financial assistance instrument chosen. In parallel, the Managing Director of the ESM shall prepare a proposal for a financial assistance facility agreement, including the financial terms and conditions and the choice of instruments, to be adopted by the Board of Governors.

The MoU shall be fully consistent with the measures of economic policy coordination provided for in the TFEU, in particular with any act of European Union law, including any opinion, warning, recommendation or decision addressed to the ESM Member concerned.

4. The European Commission shall sign the MoU on behalf of the ESM, subject to prior compliance with the conditions set out in paragraph 3 and approval by the Board of Governors.

5. The Board of Directors shall approve the financial assistance facility agreement detailing the financial aspects of the stability support to be granted and, where applicable, the disbursement of the first tranche of the assistance.

6. The ESM shall establish an appropriate warning system to ensure that it receives any repayments due by the ESM Member under the stability support in a timely manner.

7. The European Commission - in liaison with the ECB and, wherever possible, together with the IMF - shall be entrusted with monitoring compliance with the conditionality attached to the financial assistance facility.

ARTICLE 14

ESM precautionary financial assistance

1. The Board of Governors may decide to grant precautionary financial assistance in the form of a precautionary conditioned credit line or in the form of an enhanced conditions credit line in accordance with Article 12(1).

2. The conditionality attached to the ESM precautionary financial assistance shall be detailed in the MoU, in accordance with Article 13(3).

3. The financial terms and conditions of the ESM precautionary financial assistance shall be specified in a precautionary financial assistance facility agreement, to be signed by the Managing Director.

4. The Board of Directors shall adopt the detailed guidelines on the modalities for implementing the ESM precautionary financial assistance.

5. The Board of Directors shall decide by mutual agreement on a proposal from the Managing Director and after having received a report from the European Commission in accordance with Article 13(7), whether the credit line should be maintained.

6. After the ESM Member has drawn funds for the first time (via a loan or a primary market purchase), the Board of Directors shall decide by mutual agreement on a proposal from the Managing Director and based on an assessment conducted by the European Commission, in liaison with the ECB, whether the credit line continues to be adequate or whether another form of financial assistance is needed.

ARTICLE 15

Financial assistance for the re-capitalisation of financial institutions of an ESM Member

1. The Board of Governors may decide to grant financial assistance through loans to an ESM Member for the specific purpose of re-capitalising the financial institutions of that ESM Member.

2. The conditionality attached to financial assistance for the re-capitalisation of an ESM Member’s financial institutions shall be detailed in the MoU, in accordance with Article 13(3).

3. Without prejudice to Articles 107 and 108 TFEU, the financial terms and conditions of financial assistance for the re-capitalisation of an ESM Member’s financial institutions shall be specified in a financial assistance facility agreement, to be signed by the Managing Director.

4. The Board of Directors shall adopt the detailed guidelines on the modalities for implementing financial assistance for the re-capitalisation of an ESM Member’s financial institutions.

5. Where applicable, the Board of Directors shall decide by mutual agreement, on a proposal from the Managing Director and after having received a report from the European Commission in accordance with Article 13(7), the disbursement of the tranches of the financial assistance subsequent to the first tranche.

ARTICLE 16

ESM loans

1. The Board of Governors may decide to grant financial assistance in the form of a loan to an ESM Member, in accordance with Article 12.

2. The conditionality attached to the ESM loans shall be contained in a macro-economic adjustment programme detailed in the MoU, in accordance with Article 13(3).

3. The financial terms and conditions of each ESM loan shall be specified in a financial assistance facility agreement, to be signed by the Managing Director.

4. The Board of Directors shall adopt the detailed guidelines on the modalities for implementing ESM loans.

5. The Board of Directors shall decide by mutual agreement, on a proposal from the Managing Director and after having received a report from the European Commission in accordance with Article 13(7), the disbursement of the tranches of the financial assistance subsequent to the first tranche.

ARTICLE 17

Primary market support facility

1. The Board of Governors may decide to arrange for the purchase of bonds of an ESM Member on the primary market, in accordance with Article 12 and with the objective of maximising the cost efficiency of the financial assistance.

2. The conditionality attached to the primary market support facility shall be detailed in the MoU, in accordance with Article 13(3).

3. The financial terms and conditions under which the bond purchase is conducted shall be specified in a financial assistance facility agreement, to be signed by the Managing Director.

4. The Board of Directors shall adopt the detailed guidelines on the modalities for implementing the primary market support facility.

5. The Board of Directors shall decide by mutual agreement, on a proposal from the Managing Director and after having received a report from the European Commission in accordance with Article 13(7), the disbursement of financial assistance to a beneficiary Member State through operations on the primary market.

ARTICLE 18

Secondary market support facility

1. The Board of Governors may decide to arrange for operations on the secondary market in relation to the bonds of an ESM Member in accordance with Article 12(1).

2. Decisions on interventions on the secondary market to address contagion shall be taken on the basis of an analysis of the ECB recognising the existence of exceptional financial market circumstances and risks to financial stability.

3. The conditionality attached to the secondary market support facility shall be detailed in the MoU, in accordance with Article 13(3).

4. The financial terms and conditions under which the secondary market operations are to be conducted shall be specified in a financial assistance facility agreement, to be signed by the Managing Director.

5. The Board of Directors shall adopt the detailed guidelines on the modalities for implementing the secondary market support facility.

6. The Board of Directors shall decide by mutual agreement, on a proposal from the Managing Director, to initiate operations on the secondary market.

ARTICLE 19

Review of the list of financial assistance instruments

The Board of Governors may review the list of financial assistance instruments provided for in Articles 14 to 18 and decide to make changes to it.

ARTICLE 20

Pricing policy

1. When granting stability support, the ESM shall aim to fully cover its financing and operating costs and shall include an appropriate margin.

2. For all financial assistance instruments, pricing shall be detailed in a pricing guideline, which shall be adopted by the Board of Governors.

3. The pricing policy may be reviewed by the Board of Governors.

ARTICLE 21

Borrowing operations

1. The ESM shall be empowered to borrow on the capital markets from banks, financial institutions or other persons or institutions for the performance of its purpose.

2. The modalities of the borrowing operations shall be determined by the Managing Director, in accordance with detailed guidelines to be adopted by the Board of Directors.

3. The ESM shall use appropriate risk management tools, which shall be reviewed regularly by the Board of Directors.

Chapter 5

FINANCIAL MANAGEMENT

ARTICLE 22

Investment policy

1. The Managing Director shall implement a prudent investment policy for the ESM, so as to ensure its highest creditworthiness, in accordance with guidelines to be adopted and reviewed regularly by the Board of Directors. The ESM shall be entitled to use part of the return on its investment portfolio to cover its operating and administrative costs.

2. The operations of the ESM shall comply with the principles of sound financial and risk management.

ARTICLE 23

Dividend policy

1. The Board of Directors may decide, by simple majority, to distribute a dividend to the ESM Members where the amount of paid-in capital and the reserve fund exceed the level required for the ESM to maintain its lending capacity and where proceeds from the investment are not required to avoid a payment shortfall to creditors. Dividends are distributed pro rata to the contributions to the paid-in capital, taking into account the possible acceleration referred to in Article 41(3).

2. As long as the ESM has not provided financial assistance to one of its members, the proceeds from the investment of the ESM paid-in capital shall be returned to the ESM Members according to their respective contributions to the paid-in capital, after deductions for operational costs, provided that the targeted effective lending capacity is fully available.

3. The Managing Director shall implement the dividend policy for the ESM in accordance with guidelines to be adopted by the Board of Directors.

ARTICLE 24

Reserve and other funds

1. The Board of Governors shall establish a reserve fund and, where appropriate, other funds.

2. Without prejudice to Article 23, the net income generated by the ESM operations and the proceeds of the financial sanctions received from the ESM Members under the multilateral surveillance procedure, the excessive deficit procedure and the macro-economic imbalances procedure established under the TFEU shall be put aside in a reserve fund.

3. The resources of the reserve fund shall be invested in accordance with guidelines to be adopted by the Board of Directors.

4. The Board of Directors shall adopt such rules as may be required for the establishment, administration and use of other funds.

ARTICLE 25

Coverage of losses

1. Losses arising in the ESM operations shall be charged:

(a) firstly, against the reserve fund;

(b) secondly, against the paid-in capital; and

(c) lastly, against an appropriate amount of the authorised unpaid capital, which shall be called in accordance with Article 9(3).

2. If an ESM Member fails to meet the required payment under a capital call made pursuant to Article 9(2) or (3), a revised increased capital call shall be made to all ESM Members with a view to ensuring that the ESM receives the total amount of paid-in capital needed. The Board of Governors shall decide an appropriate course of action for ensuring that the ESM Member concerned settles its debt to the ESM within a reasonable period of time. The Board of Governors shall be entitled to require the payment of default interest on the overdue amount.

3. When an ESM Member settles its debt to the ESM, as referred to in paragraph 2, the excess capital shall be returned to the other ESM Members in accordance with rules to be adopted by the Board of Governors.

ARTICLE 26

Budget

The Board of Directors shall approve the ESM budget annually.

ARTICLE 27

Annual accounts

1. The Board of Governors shall approve the annual accounts of the ESM.

2. The ESM shall publish an annual report containing an audited statement of its accounts and shall circulate to ESM Members a quarterly summary statement of its financial position and a profit and loss statement showing the results of its operations.

ARTICLE 28

Internal Audit

An internal audit function shall be established according to international standards.

ARTICLE 29

External audit

The accounts of the ESM shall be audited by independent external auditors approved by the Board of Governors and responsible for certifying the annual financial statements. The external auditors shall have full power to examine all books and accounts of the ESM and obtain full information about its transactions.

ARTICLE 30

Board of Auditors

1. The Board of Auditors shall consist of five members appointed by the Board of Governors for their competence in auditing and financial matters and shall include two members from the supreme audit institutions of the ESM Members - with a rotation between the latter - and one from the European Court of Auditors.

2. The members of the Board of Auditors shall be independent. They shall neither seek nor take instructions from the ESM governing bodies, the ESM Members or any other public or private body.

3. The Board of Auditors shall draw up independent audits. It shall inspect the ESM accounts and verify that the operational accounts and balance sheet are in order. It shall have full access to any document of the ESM needed for the implementation of its tasks.

4. The Board of Auditors may inform the Board of Directors at any time of its findings. It shall, on an annual basis, draw up a report to be submitted to the Board of Governors.

5. The Board of Governors shall make the annual report accessible to the national parliaments and supreme audit institutions of the ESM Members and to the European Court of Auditors.

6. Any matter relating to this Article shall be detailed in the by-laws of the ESM.

Chapter 6

GENERAL PROVISIONS

ARTICLE 31

Location

1. The ESM shall have its seat and principal office in Luxembourg.

2. The ESM may establish a liaison office in Brussels.

ARTICLE 32

Legal status, privileges and immunities

1. To enable the ESM to fulfil its purpose, the legal status and the privileges and immunities set out in this Article shall be accorded to the ESM in the territory of each ESM Member. The ESM shall endeavour to obtain recognition of its legal status and of its privileges and immunities in other territories in which it performs functions or holds assets.

2. The ESM shall have full legal personality; it shall have full legal capacity to:

(a) acquire and dispose of movable and immovable property;

(b) contract;

(c) be a party to legal proceedings; and

(d) enter into a headquarter agreement and/or protocols as necessary for ensuring that its legal status and its privileges and immunities are recognised and enforced.

3. The ESM, its property, funding and assets, wherever located and by whomsoever held, shall enjoy immunity from every form of judicial process except to the extent that the ESM expressly waives its immunity for the purpose of any proceedings or by the terms of any contract, including the documentation of the funding instruments.

4. The property, funding and assets of the ESM shall, wherever located and by whomsoever held, be immune from search, requisition, confiscation, expropriation or any other form of seizure, taking or foreclosure by executive, judicial, administrative or legislative action.

5. The archives of the ESM and all documents belonging to the ESM or held by it, shall be inviolable.

6. The premises of the ESM shall be inviolable.

7. The official communications of the ESM shall be accorded by each ESM Member and by each state which has recognised the legal status and the privileges and immunities of the ESM, the same treatment as it accords to the official communications of an ESM Member.

8. To the extent necessary to carry out the activities provided for in this Treaty, all property, funding and assets of the ESM shall be free from restrictions, regulations, controls and moratoria of any nature.

9. The ESM shall be exempted from any requirement to be authorised or licensed as a credit institution, investment services provider or other authorised licensed or regulated entity under the laws of each ESM Member.

ARTICLE 33

Staff of the ESM

The Board of Directors shall lay down the conditions of employment of the Managing Director and other staff of the ESM.

ARTICLE 34

Professional secrecy

The Members or former Members of the Board of Governors and of the Board of Directors and any other persons who work or have worked for or in connection with the ESM shall not disclose information that is subject to professional secrecy. They shall be required, even after their duties have ceased, not to disclose information of the kind covered by the obligation of professional secrecy.

ARTICLE 35

Immunities of persons

1. In the interest of the ESM, the Chairperson of the Board of Governors, Governors, alternate Governors, Directors, alternate Directors, as well as the Managing Director and other staff members shall be immune from legal proceedings with respect to acts performed by them in their official capacity and shall enjoy inviolability in respect of their official papers and documents.

2. The Board of Governors may waive to such extent and upon such conditions as it determines any of the immunities conferred under this Article in respect of the Chairperson of the Board of Governors, a Governor, an alternate Governor, a Director, an alternate Director or the Managing Director.

3. The Managing Director may waive any such immunity in respect of any member of the staff of the ESM other than himself or herself.

4. Each ESM Member shall promptly take the action necessary for the purposes of giving effect to this Article in the terms of its own law and shall inform the ESM accordingly.

ARTICLE 36

Exemption from taxation

1. Within the scope of its official activities, the ESM, its assets, income, property and its operations and transactions authorised by this Treaty shall be exempt from all direct taxes.

2. The ESM Members shall, wherever possible, take the appropriate measures to remit or refund the amount of indirect taxes or sales taxes included in the price of movable or immovable property where the ESM makes, for its official use, substantial purchases, the price of which includes taxes of this kind.

3. No exemption shall be granted in respect of taxes and dues which amount merely to charges for public utility services.

4. Goods imported by the ESM and necessary for the exercise of its official activities shall be exempt from all import duties and taxes and from all import prohibitions and restrictions.

5. Staff of the ESM shall be subject to an internal tax for the benefit of the ESM on salaries and emoluments paid by the ESM, subject to rules to be adopted by the Board of Governors. From the date on which this tax is applied, such salaries and emoluments shall be exempt from national income tax.

6. No taxation of any kind shall be levied on any obligation or security issued by the ESM including any interest or dividend thereon by whomsoever held:

(a) which discriminates against such obligation or security solely because of its origin; or

(b) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the ESM.

ARTICLE 37

Interpretation and dispute settlement

1. Any question of interpretation or application of the provisions of this Treaty and the by-laws of the ESM arising between any ESM Member and the ESM, or between ESM Members, shall be submitted to the Board of Directors for its decision.

2. The Board of Governors shall decide on any dispute arising between an ESM Member and the ESM, or between ESM Members, in connection with the interpretation and application of this Treaty, including any dispute about the compatibility of the decisions adopted by the ESM with this Treaty. The votes of the member(s) of the Board of Governors of the ESM Member(s) concerned shall be suspended when the Board of Governors votes on such decision and the voting threshold needed for the adoption of that decision shall be recalculated accordingly.

3. If an ESM Member contests the decision referred to in paragraph 2, the dispute shall be submitted to the Court of Justice of the European Union. The judgement of the Court of Justice of the European Union shall be binding on the parties in the procedure, which shall take the necessary measures to comply with the judgment within a period to be decided by said Court.

ARTICLE 38

International cooperation

The ESM shall be entitled, for the furtherance of its purposes, to cooperate, within the terms of this Treaty, with the IMF, any State which provides financial assistance to an ESM Member on an ad hoc basis and any international organisation or entity having specialised responsibilities in related fields.

Chapter 7

TRANSITIONAL ARRANGEMENTS

ARTICLE 39

Relation with EFSF lending

During the transitional phase spanning the period from the entry into force of this Treaty until the complete run-down of the EFSF, the consolidated ESM and EFSF lending shall not exceed EUR 500 000 million, without prejudice to the regular review of the adequacy of the maximum lending volume in accordance with Article 10. The Board of Directors shall adopt detailed guidelines on the calculation of the forward commitment capacity to ensure that the consolidated lending ceiling is not breached.

ARTICLE 40

Transfer of EFSF supports

1. By way of derogation from Article 13, the Board of Governors may decide that the EFSF commitments to provide financial assistance to an ESM Member under its agreement with that member shall be assumed by the ESM as far as such commitments relate to undisbursed and unfunded parts of loan facilities.

2. The ESM may, if authorised by its Board of Governors, acquire the rights and assume the obligations of the EFSF, in particular in respect of all or part of its outstanding rights and obligations under, and related to, its existing loan facilities.

3. The Board of Governors shall adopt the detailed modalities necessary to give effect to the transfer of the obligations from the EFSF to the ESM, as referred to in paragraph 1 and any transfer of rights and obligations as described in paragraph 2.

ARTICLE 41

Payment of the initial capital

1. Without prejudice to paragraph 2, payment of paid-in shares of the amount initially subscribed by each ESM Member shall be made in five annual instalments of 20% each of the total amount. The first instalment shall be paid by each ESM Member within fifteen days of the date of entry into force of this Treaty. The remaining four instalments shall each be payable on the first, second, third and fourth anniversary of the payment date of the first instalment.

2. During the five-year period of capital payment by instalments, ESM Members shall accelerate the payment of paid-in shares, in a timely manner prior to the issuance date, in order to maintain a minimum 15% ratio between paid-in capital and the outstanding amount of ESM issuances and guarantee a minimum combined lending capacity of the ESM and of the EFSF of EUR 500 000 million.

3. An ESM Member may decide to accelerate the payment of its share of paid-in capital.

ARTICLE 42

Temporary correction of the contribution key

1. At inception, the ESM Members shall subscribe the authorised capital stock on the basis of the initial contribution key as specified in Annex I. The temporary correction included in this initial contribution key shall apply for a period of twelve years after the date of adoption of the euro by the ESM Member concerned.

2. If a new ESM Member’s gross domestic product (GDP) per capita at market prices in euro in the year immediately preceding its accession to the ESM is less than 75% of the European Union average GDP per capita at market prices, then its contribution key for subscribing to ESM authorised capital stock, determined in accordance with Article 10, shall benefit from a temporary correction and equal the sum of:

(a) 25% of the percentage share in the ECB capital of the national central bank of that ESM Member, determined in accordance with Article 29 of the ESCB Statute; and

(b) 75% of that ESM Member’s percentage share in the gross national income (GNI) at market prices in euro of the euro area in the year immediately preceding its accession to the ESM.

The percentages referred to in points (a) and (b) shall be rounded up or down to the nearest multiple of 0,0001 percentage points. The statistical terms shall be those published by Eurostat.

3. The temporary correction referred to in paragraph 2 shall apply for a period of twelve years from the date of adoption of the euro by the ESM Member concerned.

4. As a result of the temporary correction of the key, the relevant proportion of shares allocated to an ESM Member pursuant to paragraph 2 shall be reallocated amongst the ESM Members not benefiting from a temporary correction on the basis of their shareholding in the ECB, determined in accordance with Article 29 of the ESCB Statute, subsisting immediately prior to the issue of shares to the acceding ESM Member.

ARTICLE 43

First appointments

1. Each ESM Member shall designate its Governor and alternate Governor within the two weeks of the entry into force of this Treaty.

2. The Board of Governors shall appoint the Managing Director and each Governor shall appoint a Director and an alternate Director within the two months of the entry into force of this Treaty.

Chapter 8

FINAL PROVISIONS

ARTICLE 44

Accession

This Treaty shall be open for accession by other Member States of the European Union in accordance with Article 2 upon application for membership that any such Member State of the European Union shall file with the ESM after the adoption by the Council of the European Union of the decision to abrogate its derogation from adopting the euro in accordance with Article 140(2) TFEU. The Board of Governors shall approve the application for accession of the new ESM Member and the detailed technical terms related thereto, as well as the adaptations to be made to this Treaty as a direct consequence of the accession. Following the approval of the application for membership by the Board of Governors, new ESM Members shall accede upon the deposit of the instruments of accession with the Depositary, who shall notify other ESM Members thereof.

ARTICLE 45

Annexes

The following Annexes to this Treaty shall constitute an integral part thereof:

(1) Annex I: Contribution key of the ESM; and

(2) Annex II: Subscriptions to the authorised capital stock.

ARTICLE 46

Deposit

This Treaty shall be deposited with the General Secretariat of the Council of the European Union (“the Depositary”), which shall communicate certified copies to all the Signatories.

ARTICLE 47

Ratification, approval or acceptance

1. This Treaty shall be subject to ratification, approval or acceptance by the Signatories. Instruments of ratification, approval or acceptance shall be deposited with the Depositary.

2. The Depositary shall notify the other Signatories of each deposit and the date thereof.

ARTICLE 48

Entry into force

1. This Treaty shall enter into force on the date when instruments of ratification, approval or acceptance have been deposited by Signatories whose initial subscriptions represent no less than 90% of the total subscriptions set forth in Annex II. Where appropriate, the list of ESM Members shall be adjusted; the key in Annex I shall then be recalculated and the total authorised capital stock in Article 8(1) and Annex II and the initial total aggregated nominal value of paid-in shares in Article 8(2) shall be reduced accordingly.

2. For each signatory which thereafter deposits its instrument of ratification, approval or acceptance, this Treaty shall enter into force on the day following the date of deposit.

3. For each State which accedes to this Treaty in accordance with Article 44, this Treaty shall enter into force on the twentieth day following the deposit of its instrument of accession.

Done at Brussels on the second day of February in the year two thousand and twelve in a single original, whose Dutch, English, Estonian, Finnish, French, German, Greek, Irish, Italian, Maltese, Portuguese, Slovak, Slovenian, Spanish and Swedish texts are equally authentic, which shall be deposited in the archives of the Depositary which shall transmit a duly certified copy to each of the Contracting Parties.

Upon accession of the Republic of Latvia, the Latvian text shall be equally authentic, which shall be deposited in the archives of the Depositary which shall transmit a duly certified copy to each of the Contracting Parties.

Upon accession of the Republic of Lithuania, the Lithuanian text shall be equally authentic, which shall be deposited in the archives of the Depositary which shall transmit a duly certified copy to each of the Contracting Parties.

ANNEX I

Effective as of 1 January 2021, upon the end of the temporary correction applicable to Slovakia.

Contribution Key of the ESM

ESM Member

ESM key (%)

Kingdom of Belgium

3.4454

Federal Republic of Germany

26.8992

Republic of Estonia

0.1847

Ireland

1.5777

Hellenic Republic

2.7910

Kingdom of Spain

11.7953

French Republic

20.2003

Italian Republic

17.7506

Republic of Cyprus

0.1945

Republic of Latvia

0.2746

Republic of Lithuania

0.4063

Grand Duchy of Luxembourg

0.2482

Malta

0.0898

Kingdom of the Netherlands

5.6650

Republic of Austria

2.7581

Portuguese Republic

2.4863

Republic of Slovenia

0.4670

Slovak Republic

0.9849

Republic of Finland

1.7811

Total

100.0

The above figures are rounded to four decimals.

ANNEX II

Effective as of 1 January 2021, upon the end of the temporary correction applicable to Slovakia.

Subscriptions to the authorised capital stock

ESM Member

Number of shares

Capital subscription (EUR)

Kingdom of Belgium

242 832

24 283 200 000

Federal Republic of Germany

1 895 854

189 585 400 000

Republic of Estonia

13 020

1 302 000 000

Ireland

111 195

11 119 500 000

Hellenic Republic

196 710

19 671 000 000

Kingdom of Spain

831 332

83 133 200 000

French Republic

1 423 716

142 371 600 000

Italian Republic

1 251 062

125 106 200 000

Republic of Cyprus

13 705

1 370 500 000

Republic of Latvia

19 353

1 935 300 000

Republic of Lithuania

28 634

2 863 400 000

Grand Duchy of Luxembourg

17 490

1 749 000 000

Malta

6 327

632 700 000

Kingdom of the Netherlands

399 267

39 926 700 000

Republic of Austria

194 388

19 438 800 000

Portuguese Republic

175 236

17 523 600 000

Republic of Slovenia

32 917

3 291 700 000

Slovak Republic

69 418

6 941 800 000

Republic of Finland

125 531

12 553 100 000

Total

7 047 987

704 798 700 000

SCHEDULE 3

PART 1

Text of Intergovernmental Agreement in the Irish Language

COMHAONTÚ

LENA LEASAĂ?TEAR AN COMHAONTÚ MAIDIR LE RANNĂ?OCAĂ?OCHTAĂ? LEIS AN gCISTE RÉITIGH AONAIR A AISTRIÚ AGUS A FHRITHPHĂ?IRTIÚ

IDIR RĂ?OCHT NA BEILGE, POBLACHT NA BULGĂ?IRE, POBLACHT NA SEICE,

RĂ?OCHT NA DANMHAIRGE, POBLACHT CHÓNAIDHME NA GEARMĂ?INE,

POBLACHT NA hEASTÓINE, ÉIRE, AN PHOBLACHT HEILLÉANACH,

RĂ?OCHT NA SPĂ?INNE, POBLACHT NA FRAINCE, POBLACHT NA CRÓITE,

POBLACHT NA hIODĂ?ILE, POBLACHT NA CIPIRE, POBLACHT NA LAITVIA,

POBLACHT NA LIOTUĂ?INE, ARD-DIÚCACHT LUCSAMBURG, AN UNGĂ?IR,

POBLACHT MHĂ?LTA, RĂ?OCHT NA hĂ?SILTĂ?RE, POBLACHT NA hOSTAIRE,

POBLACHT NA POLAINNE, POBLACHT NA PORTAINGÉILE,

POBLACHT NA SLÓIVÉINE, POBLACHT NA SLÓVAICE AGUS

POBLACHT NA FIONLAINNE

BROLLACH

TĂ? NA PĂ?IRTITHE CONARTHACHA, RĂ­ocht na Beilge, Poblacht na BulgĂĄire, Poblacht na Seice, RĂ­ocht na Danmhairge, Poblacht ChĂłnaidhme na GearmĂĄine, Poblacht na hEastĂłine, Éire, an Phoblacht HeillĂ©anach, RĂ­ocht na SpĂĄinne, Poblacht na Fraince, Poblacht na CrĂłite, Poblacht na hIodĂĄile, Poblacht na Cipire, Poblacht na Laitvia, Poblacht na LiotuĂĄine, Ard-DiĂșcacht Lucsamburg, an UngĂĄir, Poblacht MhĂĄlta, RĂ­ocht na hĂ?siltĂ­re, Poblacht na hOstaire, Poblacht na Polainne, Poblacht na PortaingĂ©ile, Poblacht na SlĂłivĂ©ine, Poblacht na SlĂłvaice, Poblacht na Fionlainne (na “SĂ­nitheoirĂ­”);

AG MEABHRÚ DÓIBH an rĂĄiteas Ăłn nGrĂșpa Euro agus Ăł AirĂ­ ECOFIN an 18 Nollaig 2013 maidir leis an gcĂșlstop don SĂĄsra RĂ©itigh Aonair a bhaineann le tiomantas go ndĂ©anfar cĂșlstop coiteann a bheidh go hiomlĂĄn oibrĂ­ochtĂșil a fhorbairt ar a dhĂ©anaĂ­ tar Ă©is deich mbliana;

AG MEABHRÚ DÓIBH INA THEANNTA SIN gur fhormhuinigh Cinn StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu, ag CruinniĂș Mullaigh Euro an 14 Nollaig 2018, pacĂĄiste cuimsitheach d’fhonn an tAontas EacnamaĂ­och agus AirgeadaĂ­ochta a neartĂș, lena n‑áirĂ­tear TĂ©armaĂ­ Tagartha an ChĂșlstop Choitinn don Chiste RĂ©itigh Aonair (“an Ciste”). De bhun na dtĂ©armaĂ­ sin, thabharfaĂ­ isteach an cĂșlstop coiteann trĂ­ athruithe teoranta ar an gComhaontĂș maidir le rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair a aistriĂș agus a fhrithphĂĄirtiĂș roimh dheireadh na hidirthrĂ©imhse, ar choinnĂ­oll go ndearnadh dul chun cinn leordhĂłthanach i ndĂĄil le laghdĂș riosca, tar Ă©is cinneadh polaitiĂșil bunaithe ar mheasĂșnĂș ar laghdĂș riosca arna dhĂ©anamh ag na hinstitiĂșidĂ­ agus na hĂșdarĂĄis inniĂșla in 2020. Ina theannta sin, bheadh na ceanglais maidir le laghdĂș riosca i gcomhrĂ©ir le leibhĂ©al uaillmhĂ©ine an chĂșlstop choitinn san idirthrĂ©imhse i gcomparĂĄid le leibhĂ©al an chĂșlstop shochair;

AG AITHINT DÓIBH, i gcĂĄs ina dtugtar isteach an cĂșlstop coiteann roimh dheireadh na hidirthrĂ©imhse, ina ndĂ©antar rannĂ­ocaĂ­ochtaĂ­ ex ante leis an gCiste a leithdhĂĄileadh ar urranna Ă©agsĂșla atĂĄ faoi rĂ©ir frithphĂĄirtiĂș forchĂ©imnitheach, go n-Ă©ascĂłfaĂ­, le frithphĂĄirtiĂș rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post ar bhealach comhchosĂșil, aistriĂș rianĂșil Ăł struchtĂșr urrainne an Chiste den chineĂĄl sin chuig struchtĂșr lĂĄn-fhrithphĂĄirtithe;

AG MEABHRÚ DÓIBH INA THEANNTA SIN gur fhormhuinigh na hAirĂ­ Airgeadais, ag an gcruinniĂș den GhrĂșpa Euro an 4 Nollaig 2019 i bhformĂĄid chuimsitheach, na mĂłdĂșlachtaĂ­ teicniĂșla d’fhrithphĂĄirtiĂș rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post leis an gCiste;

AG MEABHRÚ DÓIBH INA THEANNTA SIN nĂĄr cheart feidhm a bheith ag an gComhaontĂș Leasaitheach seo go dtĂ­ go dtiocfaidh na PĂĄirtithe Conarthacha uile atĂĄ rannphĂĄirteach sa SĂĄsra Maoirseachta Aonair agus sa SĂĄsra RĂ©itigh Aonair ar an tĂĄtal go ndearnadh dul chun cinn leordhĂłthanach i ndĂĄil le laghdĂș riosca de rĂ©ir mar a thagraĂ­tear dĂł i dTĂ©armaĂ­ Tagartha an ChĂșlstop don Chiste RĂ©itigh Aonair, mar a d’fhormhuinigh CeannairĂ­ StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu iad ag an gCruinniĂș Mullaigh Euro an 14 Nollaig 2018 i bhformĂĄid chuimsitheach, agus go dtĂ­ go dtiocfaidh rĂșn Ăł Bhord GobharnĂłirĂ­ an tSĂĄsra CobhsaĂ­ochta Aonair chun an tsaorĂĄid chĂșlstop a dheonĂș i bhfeidhm,

TAR ÉIS COMHAONTÚ MAR A LEANAS:

AIRTEAGAL 1

Leasuithe ar an gComhaontĂș maidir le rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair a aistriĂș agus a fhrithphĂĄirtiĂș

LeasaĂ­tear an ComhaontĂș maidir le rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair a aistriĂș agus a fhrithphĂĄirtiĂș mar a leanas:

(1) in Airteagal 5, leasaĂ­tear mĂ­r 1 mar a leanas:

(a) cuirtear an méid a leanas in ionad phointe (d) agus phointe (e):

“(d) Uimhir a ceathair, agus gan dochar do chumhachtaĂ­ an Bhoird a luaitear i bpointe (e), mura leor na hacmhainnĂ­ airgeadais dĂĄ dtagraĂ­tear i bpointe (c) chun costais aon bheart rĂ©itigh ar leith a chumhdach, dĂ©anfaidh na PĂĄirtithe Conarthacha na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post a fuarthas Ăł na hinstitiĂșidĂ­ a ĂșdaraĂ­tear ina gcrĂ­ocha faoi seach a aistriĂș go dtĂ­ an Ciste, ar rannĂ­ocaĂ­ochtaĂ­ iad a cruinnĂ­odh i gcomhrĂ©ir leis na critĂ©ir a leagtar sĂ­os in Airteagal 71 de RialachĂĄn SRA, i gcomhrĂ©ir leis an mĂ©id a leanas:

-mar chĂ©ad chĂ©im, dĂ©anfaidh na PĂĄirtithe Conarthacha lena mbaineann dĂĄ dtagraĂ­tear i bpointe (a) nĂł, i gcĂĄs rĂ©iteach ar ghrĂșpa trasteorann, na PĂĄirtithe Conarthacha lena mbaineann nĂĄr sholĂĄthair dĂłthain acmhainnĂ­ airgeadais faoi phointe (a) go pointe (c) i ndĂĄil le rĂ©iteach na n-eintiteas a ĂșdaraĂ­tear ar a gcrĂ­ocha, rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post suas go dtĂ­ an mĂ©id a rĂ­omhfar mar uasmhĂ©id na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post a fhĂ©adfar a chruinniĂș Ăł institiĂșidĂ­ a ĂșdaraĂ­tear ina gcrĂ­ocha i gcomhrĂ©ir leis an dara fomhĂ­r d’Airteagal 71(1) de RialachĂĄn SRA arna iolrĂș faoin gcĂ©atadĂĄn ĂĄbhartha (an ‘t-uasmhĂ©id’), a aistriĂș chuig an gCiste. Chun crĂ­che na fleisce seo, cinnfear an cĂ©atadĂĄn trĂ­ thagairt do dhĂĄta theacht i bhfeidhm na scĂ©ime rĂ©itigh. Is ionann Ă© agus 30% amhail Ăł dhĂĄta chur i bhfeidhm na fleisce seo agus le linn na coda eile den rĂĄithe fĂ©ilire ina bhfuil an dĂĄta sin. LaghdĂłfar an cĂ©atadĂĄn ar bhonn rĂĄithiĂșil le mĂ©id arb ionann Ă© agus 30 pointe cĂ©atadĂĄin arna roinnt ar lĂ­on na rĂĄithĂ­ fĂ©ilire atĂĄ fĂĄgtha den idirthrĂ©imhse, lena n‑áirĂ­tear an rĂĄithe ina bhfuil dĂĄta chur i bhfeidhm na fleisce seo. Chun crĂ­ocha na fleisce seo, bainfear Ăłn uasmhĂ©id suim na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post atĂĄ cruinnithe cheana fĂ©in sa bhliain chĂ©anna agus atĂĄ fĂłs le cruinniĂș sa bhliain chĂ©anna faoin bhfleasc seo maidir le gnĂ­omhaĂ­ochtaĂ­ rĂ©itigh roimhe sin;

-mar dhara cĂ©im, mura leor na hacmhainnĂ­ airgeadais a bheidh ar fĂĄil faoin gcĂ©ad fhleasc, aistreoidh na PĂĄirtithe Conarthacha uile chuig an gCiste na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post is gĂĄ chun an chuid atĂĄ fĂĄgtha de chostais na gnĂ­omhaĂ­ochta rĂ©itigh ar leith a chumhdach suas go dtĂ­ an mĂ©id a rĂ­omhfar mar uasmhĂ©id na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post a fhĂ©adfar a chruinniĂș Ăł institiĂșidĂ­ a ĂșdaraĂ­tear ina gcrĂ­ocha i gcomhrĂ©ir leis an dara fomhĂ­r d’Airteagal 71(1) de RialachĂĄn SRA, arna iolrĂș faoi chĂ©atadĂĄn atĂĄ cothrom le 100% lĂșide an cĂ©atadĂĄn a chuirfear i bhfeidhm i gcomhrĂ©ir leis an gcĂ©ad fhleasc (an ‘t-uasmhĂ©id frithphĂĄirtithe’). Chun crĂ­ocha na fleisce seo, bainfear Ăłn uasmhĂ©id frithphĂĄirtithe suim na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post atĂĄ cruinnithe cheana sa bhliain chĂ©anna agus atĂĄ fĂłs le cruinniĂș sa bhliain chĂ©anna faoin bhfleasc seo maidir le gnĂ­omhaĂ­ochtaĂ­ rĂ©itigh roimhe sin.

(e) Mura leor na hacmhainnĂ­ airgeadais dĂĄ dtagraĂ­tear i bpointe (c) chun costais aon ghnĂ­omhaĂ­ocht rĂ©itigh ar leith a chumhdach, agus a fhad is nach mbeidh rochtain lĂĄithreach ar na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post dĂĄ dtagraĂ­tear i bpointe (d), lena n-ĂĄirĂ­tear ar chĂșiseanna a bhaineann le cobhsaĂ­ocht na n‑institiĂșidĂ­ lena mbaineann, fĂ©adfaidh an Bord a chuid cumhachta a fheidhmiĂș chun iasachtaĂ­ocht nĂł cineĂĄlacha eile tacaĂ­ochta a chonrĂș le haghaidh an Chiste i gcomhrĂ©ir le hAirteagail 73 agus 74 de RialachĂĄn SRA, nĂł a chuid cumhachta chun aistrithe sealadacha a dhĂ©anamh idir urranna i gcomhrĂ©ir le hAirteagal 7 den ChomhaontĂș seo.

I gcĂĄs ina gcinnfidh an Bord na cumhachtaĂ­ a luaitear sa chĂ©ad fhomhĂ­r den phointe seo a fheidhmiĂș, aistreoidh na PĂĄirtithe Conarthacha, gan dochar don trĂ­Ăș fomhĂ­r den phointe seo, na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post chuig an gCiste d’fhonn na hiasachtaĂ­ochtaĂ­ nĂł an cineĂĄl eile tacaĂ­ochta nĂł an t‑aistriĂș sealadach idir urranna a chĂșiteamh, i gcomhrĂ©ir leis an gcĂ©ad agus an dara fleasc de phointe (d) le linn na trĂ©imhse aibĂ­ochta agus go dtĂ­ an t‑aisĂ­oc iomlĂĄn. Chun amhras a sheachaint, beidh feidhm ag an gcĂ©atadĂĄn ĂĄbhartha cĂ©anna a chinntear i gcomhrĂ©ir le pointe (d) le linn na trĂ©imhse aibĂ­ochta.

I dtaca le scéim réitigh åirithe a thåinig i bhfeidhm le linn na hidirthréimhse, beidh feidhm ag an méid seo a leanas:

-maidir le hiomlĂĄn na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post a bheidh le haistriĂș i leith an ghnĂ­mh rĂ©itigh ĂĄirithe sin agus iad sin a bheidh fĂłs le haistriĂș i leith gnĂ­omhaĂ­ochtaĂ­ rĂ©itigh ĂĄirithe roimhe seo ag na PĂĄirtithe Conarthacha lena mbaineann faoi (i) an chĂ©ad fhleasc de phointe (d) agus (ii) faoin bpointe (e) seo arna chur i bhfeidhm i gcomhrĂ©ir leis an gcĂ©ad fhleasc de phointe (d), nĂ­ shĂĄrĂłidh sĂ© an t-uasmhĂ©id arna iolrĂș faoi thrĂ­;

-ina dhiaidh sin, maidir leis an iomlĂĄn atĂĄ cothrom le mĂ©id iomlĂĄn na rannĂ­ocaĂ­ochtaĂ­ ex ante a Ă­ocadh isteach ar dhĂĄta theacht i bhfeidhm na scĂ©ime rĂ©itigh ĂĄirithe sin cĂ© is moite dĂłibh siĂșd a cruinnĂ­odh i ndĂĄil le heisĂ­ocaĂ­ochtaĂ­ de chuid an Chiste roimhe seo (leibhĂ©al iarbhĂ­r an Chiste, gan eisĂ­ocaĂ­ochtaĂ­ a d’fhĂ©adfadh a bheith i gceist a chur san ĂĄireamh), nĂ­ shĂĄrĂłidh sĂ© sin na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post a bheidh le haistriĂș i leith an ghnĂ­mh rĂ©itigh ĂĄirithe seo agus iad sin a bheidh fĂłs le haistriĂș i leith gnĂ­omhaĂ­ochtaĂ­ rĂ©itigh roimhe seo ag na PĂĄirtithe Conarthacha uile lena mbaineann faoi (i) an dara fleasc de phointe (d) agus (ii) faoin bpointe seo (e) i bhfeidhm i gcomhrĂ©ir leis an dara fleasc de phointe (d).”;

(b) cuirtear isteach an pointe seo:

“(f) Mura leor na hacmhainnĂ­ airgeadais dĂĄ dtagraĂ­tear i bpointe (e) chun costais aon bheart rĂ©itigh ar leith a chumhdach, aistreoidh na PĂĄirtithe Conarthacha lena mbaineann, le linn na trĂ©imhse aibĂ­ochta agus go dtĂ­ an t-aisĂ­oc iomlĂĄn, na rannĂ­ocaĂ­ochtaĂ­ urghnĂĄcha ex post ar fĂ©idir a chruinniĂș go fĂłill Ăł na hinstitiĂșidĂ­ a ĂșdaraĂ­tear ina crĂ­ocha, laistigh den teorainn ama i gcomhrĂ©ir leis an dara fomhĂ­r a leagtar sĂ­os in Airteagal 71(1) de RialachĂĄn SRA, d’fhonn na hiasachtaĂ­ nĂł cineĂĄlacha eile tacaĂ­ochta a d’fhĂ©adfadh an Bord a chonrĂș i gcomhrĂ©ir le hAirteagal 73 agus Airteagal 74 de RialachĂĄn SRA a chĂșiteamh.”;

(2) in Airteagal 7, cuirtear an méid seo a leanas in ionad mhír 1:

“1. Gan dochar do na hoibleagĂĄidĂ­ a leagtar sĂ­os faoi phointe (a) go dtĂ­ pointe (d) d’Airteagal 5(1), agus le linn na hidirthrĂ©imhse, fĂ©adfaidh na PĂĄirtithe Conarthacha lena mbaineann a iarraidh ar an mBord RĂ©itigh Aonair ĂșsĂĄid a bhaint, go sealadach, as an gcuid sin de na hacmhainnĂ­ airgeadais atĂĄ ar fĂĄil in urranna an Chiste nach bhfuil i gcumainn fhrithphĂĄirteacha go fĂłill agus a chomhfhreagraĂ­onn do na PĂĄirtithe Conarthacha eile. Sa chĂĄs sin beidh feidhm ag pointe (e) d’Airteagal 5(1).”.

AIRTEAGAL 2

Taisceadh

DĂ©anfar an ComhaontĂș Leasaitheach seo a thaisceadh le hArdrĂșnaĂ­ocht Chomhairle an Aontais Eorpaigh (“an TaiscĂ­”), agus cuirfidh an TaiscĂ­ cĂłipeanna deimhnithe chuig na SĂ­nitheoirĂ­ uile.

AIRTEAGAL 3

ComhdhlĂșthĂș

BunĂłidh an TaiscĂ­ leagan comhdhlĂșite den ChomhaontĂș maidir le rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair a aistriĂș agus a fhrithphĂĄirtiĂș agus cuirfidh sĂ© chuig na SĂ­nitheoirĂ­ uile Ă©.

AIRTEAGAL 4

DaingniĂș, formheas nĂł glacadh

1. Beidh an ComhaontĂș Leasaitheach seo faoi rĂ©ir a dhaingnithe, a fhormheasa nĂł a ghlactha ag na SĂ­nitheoirĂ­. DĂ©anfar ionstraimĂ­ daingniĂșchĂĄin, formheasa nĂł glactha a thaisceadh leis an TaiscĂ­.

2. Cuirfidh an Taiscí na Sínitheoirí eile ar an eolas faoi gach taisce agus faoin dåta a ndéanfar é.

AIRTEAGAL 5

Teacht i bhfeidhm, cur i bhfeidhm agus aontachas

1. Tiocfaidh an ComhaontĂș Leasaitheach seo i bhfeidhm ar an dĂĄta a mbeidh na hionstraimĂ­ daingniĂșchĂĄin, formheasa nĂł glactha taiscthe ag na SĂ­nitheoirĂ­ uile atĂĄ rannphĂĄirteach sa SĂĄsra Maoirseachta Aonair agus sa SĂĄsra RĂ©itigh Aonair. Gan dochar do mhĂ­r 2, beidh feidhm aige Ăł dhĂĄta a theacht i bhfeidhm.

2. Ar choinnĂ­oll go bhfuil an ComhaontĂș Leasaitheach seo tagtha i bhfeidhm i gcomhrĂ©ir le mĂ­r 1 agus murab Ă© go mbeidh na coinnĂ­ollacha a shainĂ­tear thĂ­os comhlĂ­onta sula mbeidh sĂ© tagtha i bhfeidhm, beidh feidhm ag an gComhaontĂș Leasaitheach seo Ăłn dĂĄta tar Ă©is dĂĄta comhlĂ­onta na gcoinnĂ­ollacha seo a leanas:

(a) maidir leis na PĂĄirtithe Conarthacha a bheidh rannphĂĄirteach sa SĂĄsra Maoirseachta Aonair agus sa SĂĄsra RĂ©itigh Aonair, bunaithe ar mheasĂșnĂș na n-institiĂșidĂ­ agus na n-ĂșdarĂĄs inniĂșil in 2020, is Ă© a dtĂĄtal siĂșd gur leor a bhfuil dĂ©anta de dhul chun cinn maidir le laghdĂș riosca dĂĄ dtagraĂ­tear i dTĂ©armaĂ­ Tagartha an ChĂșlstop Choitinn don Chiste RĂ©itigh Aonair, mar a d’fhormhuinigh CeannairĂ­ StĂĄit nĂł Rialtais na mBallstĂĄt a bhfuil an euro mar airgeadra acu ag an gCruinniĂș Mullaigh den GhrĂșpa Euro ar an 14 Nollaig 2018 a tionĂłladh i bhformĂĄid chuimsitheach; agus

(b) tĂĄ rĂșn Ăł Bhord GobharnĂłirĂ­ an tSĂĄsra CobhsaĂ­ochta Eorpaigh an tsaorĂĄid chĂșlstop a dheonĂș faoi Airteagal 18a(1) den Chonradh lena mBunaĂ­tear an SĂĄsra CobhsaĂ­ochta Eorpach tagtha i bhfeidhm.

3. Sula dtiocfaidh an ComhaontĂș Leasaitheach seo i bhfeidhm, beidh sĂ© ar oscailt le haghaidh aontachais do BhallstĂĄit de chuid an Aontais Eorpaigh a aontaĂ­onn don ChomhaontĂș maidir le rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair a aistriĂș agus a fhrithphĂĄirtiĂș i gcomhrĂ©ir le hAirteagal 13 de.

Beidh feidhm freisin ag Airteagal 13 den ChomhaontĂș maidir le rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair a aistriĂș agus a fhrithphĂĄirtiĂș maidir le haontachas don ChomhaontĂș Leasaitheach seo.

Beidh de cheangal ar an mBallstĂĄt aontach an t-iarratas ar aontachas don ChomhaontĂș Leasaitheach seo a thĂ­olacadh an trĂĄth cĂ©anna a ndĂ©antar an t-iarratas ar aontachas don ChomhaontĂș maidir le rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair a aistriĂș agus a fhrithphĂĄirtiĂș. Beidh Ă©ifeacht ag an aontachas trĂĄth a thaiscfear go comhuaineach na hionstraimĂ­ aontachais don ChomhaontĂș maidir le rannĂ­ocaĂ­ochtaĂ­ leis an gCiste RĂ©itigh Aonair a aistriĂș agus a fhrithphĂĄirtiĂș agus don ChomhaontĂș Leasaitheach seo ar aon.

Arna dhĂ©anamh i scrĂ­bhinn bhunaidh amhĂĄin sa BhĂ©arla, sa BhulgĂĄiris, sa ChrĂłitis, sa Danmhairgis, san EastĂłinis, san Fhionlainnis, sa Fhraincis, sa Ghaeilge, sa GhearmĂĄinis, sa GhrĂ©igis, san IodĂĄilis, sa Laitvis, sa LiotuĂĄinis, sa MhĂĄltais, san Ollainnis, sa Pholainnis, sa PhortaingĂ©ilis, sa RĂłmĂĄinis, sa tSeicis, sa tSlĂłivĂ©inis, sa tSlĂłvaicis, sa SpĂĄinnis, sa tSualainnis agus san UngĂĄiris, agus comhĂșdarĂĄs ag gach tĂ©acs acu sin.

PART 2

Text of Intergovernmental Agreement in the English Language

AGREEMENT

AMENDING THE AGREEMENT ON THE TRANSFER AND MUTUALISATION

OF CONTRIBUTIONS TO THE SINGLE RESOLUTION FUND

BETWEEN THE KINGDOM OF BELGIUM, THE REPUBLIC OF BULGARIA,

THE CZECH REPUBLIC, THE KINGDOM OF DENMARK,

THE FEDERAL REPUBLIC OF GERMANY, THE REPUBLIC OF ESTONIA,

IRELAND, THE HELLENIC REPUBLIC, THE KINGDOM OF SPAIN,

THE FRENCH REPUBLIC, THE REPUBLIC OF CROATIA,

THE ITALIAN REPUBLIC, THE REPUBLIC OF CYPRUS,

THE REPUBLIC OF LATVIA, THE REPUBLIC OF LITHUANIA,

THE GRAND DUCHY OF LUXEMBOURG, HUNGARY,

THE REPUBLIC OF MALTA, THE KINGDOM OF THE NETHERLANDS,

THE REPUBLIC OF AUSTRIA, THE REPUBLIC OF POLAND,

THE PORTUGUESE REPUBLIC, ROMANIA, THE REPUBLIC OF SLOVENIA,

THE SLOVAK REPUBLIC AND THE REPUBLIC OF FINLAND

PREAMBLE

THE CONTRACTING PARTIES, the Kingdom of Belgium, the Republic of Bulgaria, the Czech Republic, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Republic of Croatia, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, Hungary, the Republic of Malta, the Kingdom of the Netherlands, the Republic of Austria, the Republic of Poland, the Portuguese Republic, Romania, the Republic of Slovenia, the Slovak Republic and the Republic of Finland (the “Signatories”);

RECALLING the statement of the Eurogroup and ECOFIN Ministers of 18 December 2013 on the Single Resolution Mechanism backstop concerning a commitment to develop a fully operational common backstop at the latest after ten years;

FURTHER RECALLING that at the Euro Summit meeting of 14 December 2018 in inclusive format, the Heads of State or Government of the Member States whose currency is the euro endorsed a comprehensive package with a view to strengthening the Economic and Monetary Union, including the Terms of Reference of the Common Backstop to the Single Resolution Fund (the “Fund”). Pursuant to those terms, the common backstop would be introduced through limited changes to the Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund before the end of the transition period provided that sufficient progress has been made in risk reduction, following a political decision informed by a risk reduction assessment of the institutions and competent authorities in 2020. Moreover, risk reduction requirements would be commensurate with the level of ambition of the common backstop in the transition period compared to that of the steady state;

RECOGNISING that where the common backstop is introduced before the end of the transitional period, during which ex ante contributions to the Fund are allocated to different compartments subject to progressive mutualisation, a mutualisation of extraordinary ex post contributions in a similar manner would facilitate a smooth transition from such a compartmental structure of the Fund to a fully mutualised one;

FURTHER RECALLING that at the Eurogroup of 4 December 2019 in inclusive format, the Ministers of Finance endorsed the technical modalities for the mutualisation of extraordinary ex post contributions to the Fund;

FURTHER RECALLING that this Amending Agreement should not apply until all the Contracting Parties participating in the Single Supervisory Mechanism and in the Single Resolution Mechanism have concluded that sufficient progress has been made in risk reduction as referred to in the Terms of Reference for the Common Backstop to the Single Resolution Fund, as endorsed by the Heads of State or Government of the Member States whose currency is the euro at the Euro Summit of 14 December 2018 in inclusive format, and until a resolution by the Board of Governors of the European Stability Mechanism to grant the backstop facility has entered into force,

HAVE AGREED AS FOLLOWS:

ARTICLE 1

Amendments to the Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund

The Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund is amended as follows:

(1) in Article 5, paragraph 1 is amended as follows:

(a) points (d) and (e) are replaced by the following:

“(d) In the fourth place, and without prejudice to the powers of the Board referred to in point (e), if the financial means referred to in point (c) are not sufficient to cover the costs of a particular resolution action, the Contracting Parties shall transfer to the Fund the extraordinary ex post contributions from the institutions authorised in their respective territories, raised in accordance with the criteria laid down in Article 71 of the SRM Regulation, in accordance with the following:

-as a first step, the Contracting Parties concerned referred to in point (a) or, in the case of cross-border group resolution, the Contracting Parties concerned that have not provided enough financial means under points (a) to (c) in relation to the resolution of entities authorised in their territories, shall transfer to the Fund extraordinary ex post contributions up to the amount calculated as the maximum amount ofextraordinary ex post contributions that may be raised from institutions authorised in their territories in accordance with the second subparagraph of Article 71(1) of the SRM Regulation multiplied by the relevant percentage (‘the maximum amount’). For the purpose of this indent, the percentage shall be determined by reference to the date of entry into force of the resolution scheme. It shall amount to 30% as of the date of application of this indent and during the remainder of the calendar quarter in which that date occurs. The percentage shall decrease on a quarterly basis by an amount equal to 30 percentage points divided by the number of remaining calendar quarters of the transitional period, including the quarter in which the date of application of this indent occurs. For the purposes of this indent, the sum of extraordinary ex post contributions already raised in the same year and still to be raised in the same year under this indent in respect of previous resolution actions shall be deducted from the maximum amount;

-as a second step, if the financial means available under the first indent are not sufficient, all the Contracting Parties shall transfer to the Fund extraordinary ex post contributions needed to cover the remaining part of the costs of the particular resolution action up to the amount calculated as the maximum amount of extraordinary ex post contributions that may be raised from institutions authorised in their territories in accordance with the second subparagraph of Article 71(1) of the SRM Regulation multiplied by a percentage equal to 100% minus the percentage applied in accordance with the first indent (‘the mutualised maximum amount’). For the purposes of this indent, the sum of extraordinary ex post contributions already raised in the same year and still to be raised in the same year under this indent in respect of previous resolution actions shall be deducted from the mutualised maximum amount.

(e) If the financial means referred to in point (c) are not sufficient to cover the costs of a particular resolution action, and as long as extraordinary ex post contributions referred to in point (d) are not immediately accessible, including for reasons relating to the stability of the institutions concerned, the Board may exercise its power to contract for the Fund borrowings or other forms of support in accordance with Articles 73 and 74 of the SRM Regulation, or its power to make temporary transfers between compartments in accordance with Article 7 of this Agreement.

Where the Board decides to exercise the powers referred to in the first subparagraph of this point, the Contracting Parties shall, without prejudice to the third subparagraph of this point, transfer to the Fund the extraordinary ex post contributions in order to reimburse the borrowings or other form of support, or the temporary transfer between compartments, in accordance with the first and second indents of point (d) during the maturity period and until full reimbursement. For the avoidance of doubt, the same relevant percentage determined in accordance with point (d) shall apply throughout the maturity period.

For a particular resolution scheme that entered into force during the transitional period, the following shall apply:

-the sum of extraordinary ex post contributions to be transferred in respect of that particular resolution action and those still to be transferred in respect of previous resolution actions by the Contracting Parties concerned under (i) the first indent of point (d) and (ii) under this point (e) applied in accordance with the first indent of point (d) shall not exceed the maximum amount multiplied by three;

-subsequently, the sum of extraordinary ex post contributions to be transferred in respect of that particular resolution action and those still to be transferred in respect of previous resolution actions by all the Contracting Parties under (i) the second indent of point (d) and (ii) under this point (e) applied in accordance with the second indent of point (d) shall not exceed the amount equal to the sum of all ex ante contributions paid in on the date of entry into force of that particular resolution scheme excluding those raised in connection with previous disbursements of the Fund (the actual level of the Fund, not taking into account possible disbursements).”;

(b) the following point is inserted:

“(f) If the financial means referred to in point (e) are not sufficient to cover the costs of a particular resolution action, the Contracting Parties concerned shall, during the maturity period and until full reimbursement, transfer extraordinary ex post contributions that may still be raised from institutions authorised in their territories within the limit set out in accordance with the second subparagraph of Article 71(1) of the SRM Regulation, in order to reimburse the borrowings or other forms of support that the Board may contract in accordance with Articles 73 and 74 of the SRM Regulation.”;

(2) in Article 7, paragraph 1 is replaced by the following:

“1. Without prejudice to the obligations laid down under points (a) to (d) of Article 5(1), the Contracting Parties concerned by resolution may, during the transitional period, request the Board to temporarily make use of the part of the financial means available in the compartments of the Fund not yet mutualised corresponding to the other Contracting Parties. In such a case, point (e) of Article 5(1) shall apply.”.

ARTICLE 2

Deposit

This Amending Agreement shall be deposited with the General Secretariat of the Council of the European Union (“the Depositary”), which shall communicate certified copies to all the Signatories.

ARTICLE 3

Consolidation

The Depositary shall establish a consolidated version of the Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund and communicate it to all the Signatories.

ARTICLE 4

Ratification, approval or acceptance

1. This Amending Agreement shall be subject to ratification, approval or acceptance by the Signatories. Instruments of ratification, approval, or acceptance shall be deposited with the Depositary.

2. The Depositary shall notify the other Signatories of each deposit and the date thereof.

ARTICLE 1

Entry into force, application and accession

1. This Amending Agreement shall enter into force on the date when the instruments of ratification, approval or acceptance have been deposited by all the Signatories participating in the Single Supervisory Mechanism and in the Single Resolution Mechanism. Without prejudice to paragraph 2, it shall apply from the date of its entry into force.

2. Provided that this Amending Agreement has entered into force in accordance with paragraph 1 and unless the conditions defined below have been complied with before that entry into force, this Amending Agreement shall apply from the date following the date when the following conditions have been complied with:

(a) the Contracting Parties participating in the Single Supervisory Mechanism and in the Single Resolution Mechanism, informed by the assessment of the institutions and competent authorities in 2020, have concluded that sufficient progress has been made in risk reduction as referred to in the Terms of Reference for the Common Backstop to the Single Resolution Fund, as endorsed by the Heads of State or Government of the Member States whose currency is the euro at the Euro Summit of 14 December 2018 in inclusive format; and

(b) a resolution by the Board of Governors of the European Stability Mechanism to grant the backstop facility under Article 18a(1) of the Treaty Establishing the European Stability Mechanism has entered into force.

3. Before its entry into force, this Amending Agreement shall be open for accession by Member States of the European Union acceding to the Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund in accordance with Article 13 thereof.

Article 13 of the Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund shall also apply to the accession to this Amending Agreement.

The acceding Member State shall be required to submit the application for accession to this Amending Agreement simultaneously with the application for accession to the Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund. The accession shall be effective upon simultaneous deposit of the instruments of accession both to the Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund and to this Amending Agreement.

Done in a single original, whose Bulgarian, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Irish, Italian, Latvian, Lithuanian, Maltese, Polish, Portuguese, Romanian, Slovak, Slovenian, Spanish and Swedish texts are equally authentic.

1 IO L 225, 30.7.2014, lch. 1.

2 IO L 287, 29.10.2013, lch. 63.

3 IO L 225, 30.7.2014, lch. 1.

4 IO L 173, 12.6.2014, lch. 190.

5 IO L 176, 27.6.2013, lch. 1.

* Is Ă© atĂĄ san Ă­os-tagarmharc nĂĄ, leibhĂ©al na cothromaĂ­ochta struchtĂșraĂ­ a thugann lamhĂĄil sĂĄbhĂĄilteachta i leith thairseach sin 3% CFAE faoi ghnĂĄth-dhĂĄlaĂ­ timthriallacha. ÚsĂĄidtear Ă©, den chuid is mĂł, mar cheann de thrĂ­ ionchur i rĂ­omh Ă­osmhĂ©id an chuspĂłra mheĂĄntĂ©armaigh.

6 OJ L 225, 30.7.2014, p. 1.

7 OJ L 287, 29.10.2013, p. 63.

8 J L 225, 30.7.2014, p. 1.

9 OJ L 173, 12.6.2014, p. 190.

10 OJ L 176, 27.6.2013, p. 1.

* The minimum benchmark is the level of the structural balance providing a safety margin against the 3% TFEU threshold under normal cyclical conditions. It is mainly used as one of three inputs into the calculation of the minimum medium-term objective.

11 IO L 91, 6.4.2011, lch. 1.

12 OJ L 91, 6.4.2011, p. 1.