Euro Area Loan Facility Act 2010
Number 7 of 2010
EURO AREA LOAN FACILITY ACT 2010
REVISED
Updated to 30 June 2016
This Revised Act is an administrative consolidation of the Euro Area Loan 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 7 of 2010
EURO AREA LOAN 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Where other legislation is amended by this Act, those amendments may have been superseded by other amendments in other legislation, or the amended legislation may have been repealed or revoked.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
• Euro Area Loan Facility (Amendment) Act 2012 (6/2012)
• European Financial Stability Facility and Euro Area Loan Facility (Amendment) Act 2011 (25/2011)
• European Financial Stability Facility Act 2010 (16/2010)
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 7 of 2010
EURO AREA LOAN FACILITY ACT 2010
REVISED
Updated to 30 June 2016
ARRANGEMENT OF SECTIONS
Section
2. Payments out of Central Fund.
4. Annual report by Minister to Dáil Éireann.
Intercreditor Agreement
Loan Facility Agreement
Number 7 of 2010
EURO AREA LOAN FACILITY ACT 2010
REVISED
Updated to 30 June 2016
AN ACT TO FACILITATE IN THE PUBLIC INTEREST THE SAFEGUARDING OF THE FINANCIAL STABILITY OF THE EURO AREA AS A WHOLE AND FOR THAT PURPOSE TO ENABLE PAYMENTS TO BE MADE OUT OF THE CENTRAL FUND OR THE GROWING PRODUCE OF THAT FUND SO AS TO ENABLE EFFECT TO BE GIVEN IN THE STATE TO THE INTERCREDITOR AGREEMENT REGARDING THE POOLED BILATERAL LOANS FOR THE BENEFIT OF THE HELLENIC REPUBLIC MADE BY AND BETWEEN CERTAIN MEMBER STATES OF THE EUROPEAN UNION, INCLUDING THE STATE, AND FOR THAT PURPOSE AND IN ACCORDANCE WITH ARTICLE 2 OF THAT AGREEMENT TO ENABLE EFFECT TO BE GIVEN, IN SO FAR AS IT RELATES TO THE STATE, TO THE LOAN FACILITY AGREEMENT REFERRED TO IN THAT ARTICLE, TO PROVIDE FOR ALL RECEIPTS RECEIVED IN RESPECT OF MONEYS ADVANCED UNDER THIS ACT TO BE PAID INTO THE EXCHEQUER AND TO PROVIDE FOR RELATED MATTERS.
[20 th May, 2010]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
Annotations:
Modifications (not altering text):
C1
Term “Loan Facility Agreement” construed (23.09.2011) by European Financial Stability Facility and Euro Area Loan Facility (Amendment) Act 2011 (25/2011), s. 2(1), commenced on enactment, as substituted (5.02.2013) by Euro Area Loan Facility (Amendment) Act 2013 (1/2013), s. 2, commenced on enactment.
Amendment of Euro Area Loan Facility Act 2010.
[(1) The references to the Loan Facility Agreement in the Euro Area Loan Facility Act 2010 include—
(a) the Amendment to the Loan Facility Agreement of June 2011,
(b) the Amendment to the Loan Facility Agreement of February 2012,
(c) the Amendment to the Loan Facility Agreement of December 2012, and
(d) any subsequent amendments to the Loan Facility Agreement which have been approved by Dáil Éireann pursuant to Article 29.5.2° of the Constitution,
and that Act shall be construed accordingly.
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