IE
(LRC Revised)
Statutory Text (1 Articles)
Number 39 of 2012
FISCAL RESPONSIBILITY ACT 2012
REVISED
Updated to 16 December 2020
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
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
PART 1
Interpretation
Section
1. Interpretation.
PART 2
The Fiscal Rules
2. Duty of Government to endeavour to comply with fiscal rules.
3. Budgetary rule.
4. Debt rule.
5. Medium-term budgetary objective.
6. Correction mechanism.
PART 3
Irish Fiscal Advisory Council
7. Irish Fiscal Advisory Council.
8. Functions of Fiscal Council.
PART 4
Miscellaneous and Supplementary
9. Regulations.
10. Expenses.
11. Short title and commencement.
SCHEDULE
Irish Fiscal Advisory Council
Acts Referred to
Companies Act 1990
1990, No. 33
Comptroller and Auditor General (Amendment) Act 1993
1993, No. 8
Comptroller and Auditor General Acts 1866 to 1998
Ethics in Public Office Act 1995
1995, No. 22
European Parliament Elections Act 1997
1997, No. 2
Freedom of Information Act 1997
1997, No. 13
Local Government Act 2001
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.
[27
th November
, 2012]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS
ARRANGEMENT OF SECTIONS
PART 1
Interpretation
Section
1. Interpretation.
PART 2
The Fiscal Rules
2. Duty of Government to endeavour to comply with fiscal rules.
3. Budgetary rule.
4. Debt rule.
5. Medium-term budgetary objective.
6. Correction mechanism.
PART 3
Irish Fiscal Advisory Council
7. Irish Fiscal Advisory Council.
8. Functions of Fiscal Council.
PART 4
Miscellaneous and Supplementary
9. Regulations.
10. Expenses.
11. Short title and commencement.
SCHEDULE
Irish Fiscal Advisory Council
Number
39
of
2012