Finance (Certain European Union and Intergovernmental Obligations) Act 2016

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Number 13 of 2016


FINANCE (CERTAIN EUROPEAN UNION AND INTERGOVERNMENTAL OBLIGATIONS) ACT 2016


CONTENTS

Section

1. Interpretation

2. Minister may perform functions for purposes of Loan Facility Agreement

3. Decisions varying terms of Loan Facility Agreement

4. Payments out of Central Fund

5. Purpose of payments referred to in section 4

6. Payments into Exchequer

7. Annual report by Minister to Dáil Éireann

8. Amendment of Companies Act 2014 with respect to market abuse matters

9. Expenses

10. Short title

SCHEDULE

Terms of Loan Facility Agreement

Acts Referred To

Companies Act 2014 (No. 38)

European Communities Act 1972 (No. 27)

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Number 13 of 2016


FINANCE (CERTAIN EUROPEAN UNION AND INTERGOVERNMENTAL OBLIGATIONS) ACT 2016


An Act to—

(a) make provision in relation to an agreement that is to be entered into between the Single Resolution Board and the State concerning the lending of sums by the State to the Single Resolution Board in circumstances where, after disposal of the latter’s funds in the manner set out in Article 5(1) of the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 21 May 2014, such disposal is not sufficient to meet the costs of a resolution action referred to in that Article;

(b) enable, for the foregoing purpose, the making of payments from the Central Fund or the growing produce of that Fund of sums, not exceeding, in the aggregate, a certain amount, to that Board and to provide for related matters;

(c) amend Chapter 2 of Part 23 of the Companies Act 2014 for the purpose of implementing certain European Union law on market abuse and, in particular, Directive 2014/57/EU of 16 April 2014;

(d) provide for related matters.

[26 th October, 2016]

Be it enacted by the Oireachtas as follows: