European Financial Stability Facility Act 2010


Number 16 of 2010


EUROPEAN FINANCIAL STABILITY FACILITY ACT 2010

REVISED

Updated to 30 June 2016


This Revised Act is an administrative consolidation of the European Financial Stability Facility Act 2010. It is prepared by the Law Reform Commission in accordance with its function under the Law Reform Commission Act 1975 (3/1975) to keep the law under review and to undertake revision and consolidation of statute law.

All Acts up to and including Criminal Justice (Spent Convictions and Certain Disclosures) Act 2016 (4/2016), enacted 11 February 2016, and all statutory instruments up to and including European Union (Restrictive Measures concerning Libya) (No. 2) Regulations 2016 (S.I. No. 342 of 2016), made 30 June 2016, were considered in the preparation of this Revised Act.

Disclaimer: While every care has been taken in the preparation of this Revised Act, the Law Reform Commission can assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up to date nature of the information provided and does not accept any liability whatsoever arising from any errors or omissions. Please notify any errors, omissions and comments by email to

revisedacts@lawreform.ie.


Number 16 of 2010


EUROPEAN FINANCIAL STABILITY FACILITY ACT 2010

REVISED

Updated to 30 June 2016


Introduction

This Revised Act presents the text of the Act as it has been amended since enactment, and preserves the format in which it was passed.

Related legislation

This Act is not collectively cited with any other Act.

Annotations

This Revised Act is annotated and includes textual and non-textual amendments, statutory instruments made pursuant to the Act and previous affecting provisions.

An explanation of how to read annotations is available at

www.lawreform.ie/annotations.

Material not updated in this revision

Where other legislation is amended by this Act, those amendments may have been superseded by other amendments in other legislation, or the amended legislation may have been repealed or revoked. This information is not represented in this revision but will be reflected in a revision of the amended legislation if one is available.

Where legislation or a fragment of legislation is referred to in annotations, changes to this legislation or fragment may not be reflected in this revision but will be reflected in a revision of the legislation referred to if one is available.

A list of legislative changes to any Act, and to statutory instruments from 1999, may be found linked from the page of the Act or statutory instrument at

www.irishstatutebook.ie.

Acts which affect or previously affected this revision

European Financial Stability Facility and Euro Area Loan Facility (Amendment) Act 2011 (25/2011)

All Acts up to and including Criminal Justice (Spent Convictions and Certain Disclosures) Act 2016 (4/2016), enacted 11 February 2016, were considered in the preparation of this revision.

Statutory instruments which affect or previously affected this revision

None

All statutory instruments up to and including European Union (Restrictive Measures concerning Libya) (No. 2) Regulations 2016 (S.I. No. 342 of 2016), made 30 June 2016, were considered in the preparation of this revision.


Number 16 of 2010


EUROPEAN FINANCIAL STABILITY FACILITY ACT 2010

REVISED

Updated to 30 June 2016



Act Referred to

Euro Area Loan Facility Act 2010

2010, No. 7


Number 16 of 2010


EUROPEAN FINANCIAL STABILITY FACILITY ACT 2010

REVISED

Updated to 30 June 2016


AN ACT TO FACILITATE, IN THE PUBLIC INTEREST, THE FINANCIAL STABILITY OF THE EUROPEAN UNION AND FOR THAT PURPOSE—

(A) TO PROVIDE FOR MATTERS RELATING TO THE PARTICIPATION BY THE STATE IN THE EUROPEAN FINANCIAL STABILITY FACILITY, A PUBLIC LIMITED COMPANY INCORPORATED UNDER THE LAWS OF THE GRAND DUCHY OF LUXEMBOURG PURSUANT TO AN INTERGOVERNMENTAL AGREEMENT AMONG CERTAIN MEMBER STATES OF THE EUROPEAN UNION CONSEQUENT ON THE CONCLUSIONS OF 9 MAY 2010 OF THE COUNCIL OF ECONOMIC AND FINANCE MINISTERS OF THE EUROPEAN UNION REGARDING THE PRESERVATION OF FINANCIAL STABILITY IN EUROPE AND SUBJECT TO THE TERMS OF THE EFSF FRAMEWORK AGREEMENT ENTERED INTO BY CERTAIN MEMBER STATES ON THE ONE PART AND THE EUROPEAN FINANCIAL STABILITY FACILITY ON THE OTHER PART,

(B) TO PROVIDE FOR MATTERS RELATING TO GUARANTEES GIVEN BY THE STATE FOR THE PURPOSES OF THE AGREEMENT SO ENTERED INTO,

(C) TO PROVIDE FOR PAYMENTS TO BE MADE OUT OF THE CENTRAL FUND OR THE GROWING PRODUCE OF THAT FUND SO AS TO ENABLE EFFECT TO BE GIVEN TO THE AGREEMENT SO ENTERED INTO,

(D) TO PROVIDE FOR ALL RECEIPTS RECEIVED UNDER THIS ACT, INCLUDING RECEIPTS IN RESPECT OF MONEYS ADVANCED OR GUARANTEES GIVEN, TO BE PAID INTO THE EXCHEQUER,

(E) TO AMEND THE EURO AREA LOAN FACILITY ACT 2010, AND

(F) TO PROVIDE FOR RELATED MATTERS.

[3 rd July, 2010]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: