Strategic Banking Corporation of Ireland Act 2014


Minister may issue guarantees

18. (1) The Minister may guarantee the repayment by the SBCI of the principal of any sum borrowed by the SBCI or the payment of interest on that sum or the repayment of both principal and interest.

(2) The aggregate of the principal of all guarantees outstanding exclusive of accrued interest, shall not exceed €4,000,000,000.

(3) Details of any guarantee under this section shall be laid before each House of the Oireachtas as soon as may be after it is given.

(4) All moneys from time to time required by the Minister to meet sums which may become payable by him or her under this section shall be advanced out of the Central Fund or the growing produce thereof.