Fiscal Responsibility Act 2012
Number 39 of 2012
FISCAL RESPONSIBILITY ACT 2012
REVISED
Updated to 16 December 2020
This Revised Act is an administrative consolidation of Fiscal Responsibility Act 2012. It is prepared by the Law Reform Commission in accordance with its function under 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 Finance (Miscellaneous Provisions) Act 2020 (25/2020), enacted 16 December 2020, and all statutory instruments up to and including European Union (Retail Charges for Regulated Intra-EU Communications) Regulations 2020 (S.I. No. 668 of 2020), made 18 December 2020, 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 39 of 2012
FISCAL RESPONSIBILITY ACT 2012
REVISED
Updated to 16 December 2020
ARRANGEMENT OF SECTIONS
Interpretation
Section
The Fiscal Rules
2. Duty of Government to endeavour to comply with fiscal rules.
5. Medium-term budgetary objective.
Irish Fiscal Advisory Council
7. Irish Fiscal Advisory Council.
8. Functions of Fiscal Council.
Miscellaneous and Supplementary
11. Short title and commencement.
Irish Fiscal Advisory Council
Acts Referred to
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1990, No. 33 |
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1993, No. 8 |
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Comptroller and Auditor General Acts 1866 to 1998 |
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1995, No. 22 |
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1997, No. 2 |
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1997, No. 13 |
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2001, No. 37 |
FISCAL RESPONSIBILITY ACT 2012
REVISED
Updated to 16 December 2020
Number 39 of 2012
AN ACT TO MAKE PROVISION FOR SECURING THAT THE RULES IN ARTICLE 3 OF THE TREATY ON STABILITY, COORDINATION AND GOVERNANCE IN THE ECONOMIC AND MONETARY UNION TAKE EFFECT IN THE LAW OF THE STATE IN ACCORDANCE WITH PARAGRAPH 2 OF THAT ARTICLE AND THAT THE RULE IN ARTICLE 4 OF THAT TREATY TAKES EFFECT IN THE STATE; TO MAKE PROVISION IN ACCORDANCE WITH ARTICLE 3 OF THAT TREATY IN RELATION TO A MEDIUM-TERM BUDGETARY OBJECTIVE AND A CORRECTION MECHANISM; TO ESTABLISH A BODY TO BE KNOWN AS COMHAIRLE CHOMHAIRLEACH BHUISÉADACH NA hÉIREANN OR, IN THE ENGLISH LANGUAGE, THE IRISH FISCAL ADVISORY COUNCIL AND PROVIDE FOR ITS FUNCTIONS; AND TO PROVIDE FOR RELATED MATTERS.
[27th November, 2012]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: