Development Banks Act 2005

Amendment of Act of 1988.

7

7.—(1) Section 1 of the Act of 1988 is amended in the definition of “the Convention” by inserting “, and any amendments to the Convention which are or have been approved by Dáil Éireann pursuant to Article 29.5.2 of the Constitution” after “the Multilateral Investment Guarantee Agency”, and the said definition, as so amended, is set out in the Table to this subsection.

TABLE

“the Convention” means the Convention (the text of which is set out in the Schedule to this Act) providing for the establishment and operation of the Multilateral Investment Guarantee Agency, and any amendments to the Convention which are or have been approved by Dáil Éireann pursuant to Article 29.5.2 of the Constitution;

(2) Section 2 of the Act of 1988 is amended, with effect from the passing of this Act—

( a) by re-numbering that section as subsection (1) of that section, and

( b) by inserting the following subsection after subsection (1):

“(2) The Minister for Finance shall cause notice of the approval by Dáil Éireann, pursuant to Article 29.5.2 of the Constitution, of an amendment to the Agreement to be published in the Iris Oifigiúil as soon as may be after its approval.”.