(LRC Revised)

Number 7 of 2010

EURO AREA LOAN FACILITY ACT 2010

REVISED

Updated to 28 May 2019

Changes to legislation

as of 10 July 2026, this Act is up to date with all changes known to be in force.

This Revised Act is an administrative consolidation of the

Euro Area Loan Facility Act 2010

. It is prepared by the Law Reform Commission in accordance with its function under

the

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

Greyhound Racing Act 2019

(15/2019), enacted 28 May 2019, and all statutory instruments up to and including

European Communities (Sheep Identification) (Amendment) Regulations 2019

(S.I. No. 243 of 2019), made 28 May 2019, 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

7

of

2010

EURO AREA LOAN FACILITY ACT 2010

REVISED

Updated to 28 May 2019

ARRANGEMENT OF SECTIONS

Section

1. Definitions.

2. Payments out of Central Fund.

3. Payments into Exchequer.

4. Annual report by Minister to Dáil Éireann.

5. Expenses.

6. Short title.

SCHEDULE 1

Intercreditor Agreement

SCHEDULE 2

Loan Facility Agreement

Number

7

of

2010

EURO AREA LOAN FACILITY ACT 2010

REVISED

Updated to 28 May 2019

AN ACT TO FACILITATE IN THE PUBLIC INTEREST THE SAFEGUARDING OF THE FINANCIAL STABILITY

OF THE EURO AREA AS A WHOLE AND FOR THAT PURPOSE TO ENABLE PAYMENTS TO BE MADE OUT

OF THE CENTRAL FUND OR THE GROWING PRODUCE OF THAT FUND SO AS TO ENABLE EFFECT TO

BE GIVEN IN THE STATE TO THE INTERCREDITOR AGREEMENT REGARDING THE POOLED BILATERAL

LOANS FOR THE BENEFIT OF THE HELLENIC REPUBLIC MADE BY AND BETWEEN CERTAIN MEMBER

STATES OF THE EUROPEAN UNION, INCLUDING THE STATE, AND FOR THAT PURPOSE AND IN ACCORDANCE

WITH ARTICLE 2 OF THAT AGREEMENT TO ENABLE EFFECT TO BE GIVEN, IN SO FAR AS IT RELATES

TO THE STATE, TO THE LOAN FACILITY AGREEMENT REFERRED TO IN THAT ARTICLE, TO PROVIDE

FOR ALL RECEIPTS RECEIVED IN RESPECT OF MONEYS ADVANCED UNDER THIS ACT TO BE PAID

INTO THE EXCHEQUER AND TO PROVIDE FOR RELATED MATTERS.

[20

th May

, 2010]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS

Annotations

Modifications (not altering text)

C1

Term “Loan Facility Agreement” construed (23.09.2011) by

European Financial Stability Facility and Euro Area Loan Facility (Amendment) Act

2011

(25/2011), s. 2(1), commenced on enactment, as substituted (5.02.2013) by

Euro Area Loan Facility (Amendment) Act 2013

(1/2013), s. 2, commenced on enactment.

Amendment of Euro Area Loan Facility Act 2010.

[

(1) The references to the Loan Facility Agreement in the Euro Area Loan Facility Act

2010 include—

(a) the Amendment to the Loan Facility Agreement of June 2011,

(b) the Amendment to the Loan Facility Agreement of February 2012,

(c) the Amendment to the Loan Facility Agreement of December 2012, and

(d) any subsequent amendments to the Loan Facility Agreement which have been approved

by Dáil Éireann pursuant to Article 29.5.2° of the Constitution,

and that Act shall be construed accordingly.

...

]

Annotations

Modifications (not altering text)

C1

Term “Loan Facility Agreement” construed (23.09.2011) by

European Financial Stability Facility and Euro Area Loan Facility (Amendment) Act

2011

(25/2011), s. 2(1), commenced on enactment, as substituted (5.02.2013) by

Euro Area Loan Facility (Amendment) Act 2013

(1/2013), s. 2, commenced on enactment.

Amendment of Euro Area Loan Facility Act 2010.

[

(1) The references to the Loan Facility Agreement in the Euro Area Loan Facility Act

2010 include—

(a) the Amendment to the Loan Facility Agreement of June 2011,

(b) the Amendment to the Loan Facility Agreement of February 2012,

(c) the Amendment to the Loan Facility Agreement of December 2012, and

(d) any subsequent amendments to the Loan Facility Agreement which have been approved

by Dáil Éireann pursuant to Article 29.5.2° of the Constitution,

and that Act shall be construed accordingly.

...

]

ARRANGEMENT OF SECTIONS

Section

1. Definitions.

2. Payments out of Central Fund.

3. Payments into Exchequer.

4. Annual report by Minister to Dáil Éireann.

5. Expenses.

6. Short title.

SCHEDULE 1

Intercreditor Agreement

SCHEDULE 2

Loan Facility Agreement