Euro Area Loan Facility Act 2010

1.

Definitions.

1.— In this Act—

“Intercreditor Agreement” means the Intercreditor Agreement regarding the pooled bilateral loans for the benefit of the Hellenic Republic which was signed by the Minister on behalf of the State on 7 May 2010, the text of which is set out in Schedule 1 ;

“loan facility” has the meaning assigned by section 2 ;

“Loan Facility Agreement” means the Agreement referred to in Article 2 of the Intercreditor Agreement, entered into by—

( a) the Hellenic Republic as borrower and the Bank of Greece, as agent to the borrower, on the one part, and

( b) the other Member States of the Euro Area represented by the European Commission (acting as agent for those Euro Area Member States, other than the Federal Republic of Germany) and KfW (acting in the public interest, subject to the instructions of and with the benefit of the guarantee of the Federal Republic of Germany) as lenders on the other part,

the text of which is set out in Schedule 2 ;

“Minister” means the Minister for Finance.

Annotations:

Modifications (not altering text):

C2

References to the Loan Facility Agreement construed by European Financial Stability Facility and Euro Area Loan Facility (Amendment) Act 2011 (25/2011), s. 2(1), as amended (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.

2.—[(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 ÿireann pursuant to Article 29.5.2° of the Constitution,

and that Act shall be construed accordingly.]

Editorial Notes:

E1

Previous affecting provision: references to the Loan Facility Agreement construed by European Financial Stability Facility and Euro Area Loan Facility (Amendment) Act 2011 (25/2011), s. 2(1), as amended (9.03.2012) by Euro Area Loan Facility (Amendment) Act 2012 (6/2012), s. 2, commenced on enactment; superseded as per F-Note above.

E2

Previous affecting provision: references to the 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; superseded as per F-Note above.