S.I. No. 423/2024 - Microenterprise Loan Fund Scheme (Amendment) Regulations 2024
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 30th August, 2024. | ||
I, PETER BURKE, Minister for Enterprise, Trade and Employment in exercise of the powers conferred on me by Section 10 of the Microenterprise Loan Fund Act 2012 (No. 31 of 2012), and with the consent of the Minister for Public Expenditure, National Development Plan Delivery and Reform and the Minister for Finance hereby make amendments to the Microenterprise Loan Fund Scheme 2015 ( S.I. No. 393 of 2015 ): | ||
Citation and Collective Citation | ||
1. (a) These Regulations may be cited as the Microenterprise Loan Fund Scheme (Amendment) Regulations 2024. | ||
(b) The Microenterprise Loan Fund Scheme 2015 (S.I. No. 393/2015), and these Regulations are to be construed together as one. | ||
Interpretation | ||
2. In these Regulations- | ||
“Principal Regulations” means the Microenterprise Loan Fund Scheme 2015 (S.I. No. 393/2015) as amended. | ||
“Regulations of 2020” means the Microenterprise Loan Fund Scheme (Amendment) Regulations 2020 ( S.I. No. 78 of 2020 ) | ||
Amendment of Regulation 5.1.2 of the Principal Regulations – Purpose of Loan | ||
3. The Principal Regulations are amended by substituting for Regulation 5.1.2 the following: | ||
“5.1.2 Purpose of Loan | ||
Loans will be provided for business start-up costs, expansion costs and working capital.” | ||
Amendment of Regulation 5.1.3 of the Principal Regulations –Permissible Loan Values | ||
4. The Principal Regulations are amended by substituting for Regulation 5.1.3 the following: | ||
“5.1.3 Permissible Loan Values | ||
Loans will be for amounts up to €50,000.” | ||
Revocation of the Regulations of 2020 | ||
5. The Regulations of 2020 are hereby revoked. | ||
The Minister for Finance consents to the foregoing amendments to the Microenterprise Loan Fund Scheme, | ||
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GIVEN under my Official Seal, | ||
23 August, 2024. | ||
JACK CHAMBERS, | ||
Minister for Finance. | ||
The Minister for Public Expenditure, National Development Plan Delivery, and Reform consents to the foregoing amendments to the Microenterprise Loan Fund Scheme, | ||
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GIVEN under my Official Seal, | ||
26 August, 2024. | ||
PASCHAL DONOHOE, | ||
Minister for Public Expenditure, National Development Plan Delivery and Reform. | ||
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GIVEN under my Official Seal, | ||
28 August, 2024. | ||
PETER BURKE, | ||
Minister for Enterprise, Trade and Employment. | ||
EXPLANATORY NOTE | ||
(This note is not part of the Instrument and does not purport to be a legal interpretation.) | ||
This Instrument increases Microfinance Ireland permissible loan value from €25,000 to €50,000 for microenterprises. |
