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Housing Finance Agency Act 1981
Borrowings.
10.—(1) The Agency may borrow money (including money in a currency other than the currency of the State) but where money is borrowed by the Agency otherwise than from the Exchequer, such borrowing shall be subject to the F28[consent of the Minister, the Minister for Finance and the Minister for Public Expenditure, National Development Plan Delivery and Reform].
F29[(1A) The Agency may, with the consent of the Minister and the Minister for Finance, raise money (including money in a currency other than the currency of the State) by the making of promissory notes or the drawing or accepting of bills of exchange.]
(2) For the purpose of borrowing, the Agency may create and issue bonds, debentures and other securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as the Agency thinks fit.
(3) The Agency shall exercise the powers conferred on it by this section so that the amount or amounts of principal which the Agency may at any particular time be liable to repay on foot of any liability or liabilities incurred under this section does not, or do not in their aggregate, exceed F30[€15,000,000,000].
F31[(4) For the purposes of this section, moneys borrowed or raised in a currency other than the currency of the State shall be deemed to be the equivalent in the currency of the State of the actual moneys borrowed or raised, such equivalent being calculated according to the rate of exchange for that currency and the currency of the State at the time such moneys were borrowed or raised, as the case may be.]
Annotations
Amendments:
F28
Substituted (6.03.2024) by Local Government (Mayor of Limerick) and Miscellaneous Provisions Act 2024 (7/2024), s. 66(a), commenced on enactment.
F29
Inserted (10.12.1985) by Housing Finance Agency (Amendment) Act 1985 (20/1985), s. 2(a), commenced on enactment.
F30
Substituted (12.08.2026) by Planning and Development (Amendment) Act 2026 (27/2026), s. 149, S.I. No. 414 of 2026.
F31
Substituted (10.12.1985) by Housing Finance Agency (Amendment) Act 1985 (20/1985), s. 2(c), commenced on enactment.
Modifications (not altering text):
C9
Prospective affecting provision: subs. (3) amended by Planning and Development (Amendment) Act 2026 (27/2026), s. 149, not commenced as of date of revision.
(3) The Agency shall exercise the powers conferred on it by this section so that the amount or amounts of principal which the Agency may at any particular time be liable to repay on foot of any liability or liabilities incurred under this section does not, or do not in their aggregate, exceed F30[€15,000,000,000].
C10
Application of subs. (3) restricted (27.12.1982) by Housing Finance Agency (Amendment) Act 1982 (27/1982), s. 2(1)(a), commenced on enactment.
Amendment of sections 10 and 11 of Housing Finance Agency Act, 1981.
2.—(1) Where the Agency borrows money on foot of a bond or other security created and issued by it and subject to a condition whereby, on the redemption of the security, an amount, being both in addition to the money actually borrowed by the Agency and calculated by reference to the consumer price index number or in such other manner as is specified in the condition, is payable by the Agency otherwise than on account of interest, the following provisions shall apply:
(a) the amount shall not be taken into account for the purposes of section 10(3) of the Principal Act, and
(b) ...
(2) In this section “the consumer price index number” means the All Items Consumer Price Index Number compiled by the Central Statistics Office.
Editorial Notes:
E10
Previous affecting provision: subs. (3) amended (28.10.2025) by Housing Finance Agency (Amendment) Act 2025 (11/2025), s. 1, commenced on enactment; substituted (12.09.2026) as per F-note above.
E11
Previous affecting provision: subs. (3) amended (6.03.2024) by Local Government (Mayor of Limerick) and Miscellaneous Provisions Act 2024 (7/2024), s. 66(b), commenced on enactment; substituted (28.10.2025) as per F-note above.
E12
Previous affecting provision: subs. (3) amended (1.12.2009) by Housing (Miscellaneous Provisions) Act 2009 (22/2009), s. 8 and sch. 2 pt. 2 item 3, S.I. No. 449 of 2009; substituted (6.03.2024) as per E-note above.
E13
Previous affecting provision: subs. (3) amended (25.04.2002) by Housing (Miscellaneous Provisions) Act 2002 (9/2002), s. 17(c), S.I. No. 163 of 2002; substituted (1.12.2009) as per E-note above.
E14
Previous affecting provision: subs. (3) amended (1.09.1992) by Housing (Miscellaneous Provisions) Act 1992 (18/1992), s. 29(b), S.I. No. 223 of 1992; substituted (25.04.2002) as per E-note above.
E15
Previous affecting provision: subs. (3) amended (8.02.1988) by Housing Finance Agency (Amendment) Act 1988 (1/1988), s. 3, commenced on enactment; substituted (1.09.1992) as per E-note above.
E16
Previous affecting provision: subs. (3) amended (10.12.1985) by Housing Finance Agency (Amendment) Act 1985 (20/1985), s. 2(b), commenced on enactment; substituted (8.02.1988) as per E-note above.