(LRC Revised)

Number 1 of 2016

CREDIT GUARANTEE (AMENDMENT) ACT 2016

REVISED

Updated to 8 December 2022

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

Credit Guarantee (Amendment) Act 2016

. 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 the

Air Navigation and Transport

Act 2022

(40/2022), enacted 7 December 2022, and all statutory instruments up to

and including the

Credit Guarantee (Amendment) Act 2022 (Commencement) Order 2022

(S.I. No. 642 of 2022), made 8 December 2022, 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

1

of

2016

CREDIT GUARANTEE (AMENDMENT) ACT 2016

REVISED

Updated to 8 December

2022

CONTENTS

PART 1

Preliminary and General

Section

1. Short title, commencement and collective citation

2. Definitions

PART 2

Amendment of Principal Act

3. Amendment of section 1 of Principal Act

4. Participating finance provider

5. Power of Minister to give guarantees

6. Amendment of section 5 of Principal Act

7. Payment of premium to Minister by participating enterprise

8. Withdrawal of guarantee by Minister

9. Application of Part

PART 3

Counter Guarantees

10. Definitions

11. Power of Minister to give counter guarantees

12. Monetary limit on Minister’s liability

13. Counter guarantee schemes

14. Payment of premium to Minister by participating PFI

15. Review of counter guarantee scheme

16. Expenses

PART 4

Unrelated Miscellaneous Amendments to other Enactments

17. Amendment of section 101 of Employment Equality Act 1998

18. Amendment of section 34 of National Minimum Wage Act 2000

19. Amendment of Workplace Relations Act 2015

20. Amendment of section 916 of Companies Act 2014

Acts Referred to

Companies Act 2014 (No. 38)

Credit Guarantee Act 2012 (No. 26)

Employment Equality Act 1998 (No. 21)

Employment Permits Act 2006 (No. 16)

National Minimum Wage Act 2000 (No. 5)

Taxes Consolidation Act 1997 (No. 39)

Unfair Dismissals Act 1977 (No. 10)

Workplace Relations Act 2015 (No. 16)

Number

1

of

2016

CREDIT GUARANTEE (AMENDMENT) ACT 2016

REVISED

Updated to 8 December

2022

An Act to amend and extend the Credit Guarantee Act 2012; to enable the Minister for

Jobs, Enterprise and Innovation, pursuant to a counter guarantee scheme made by that

Minister of the Government, to give counter guarantees to promotional financial institutions

for guarantees given by the institutions to finance providers in respect of finance

agreements entered into by the finance providers with qualifying enterprises; to place

a yearly monetary limit on the potential liability of that Minister of the Government

in respect of all credit guarantee schemes and counter guarantee schemes taken together;

to amend the Employment Equality Act 1998, the National Minimum Wage Act 2000, the

Workplace Relations Act 2015 and the Companies Act 2014; and to provide for matters

connected therewith.

[8

th February

, 2016]

Be it enacted by the Oireachtas

as follows

CONTENTS

PART 1

Preliminary and General

Section

1. Short title, commencement and collective citation

2. Definitions

PART 2

Amendment of Principal Act

3. Amendment of section 1 of Principal Act

4. Participating finance provider

5. Power of Minister to give guarantees

6. Amendment of section 5 of Principal Act

7. Payment of premium to Minister by participating enterprise

8. Withdrawal of guarantee by Minister

9. Application of Part

PART 3

Counter Guarantees

10. Definitions

11. Power of Minister to give counter guarantees

12. Monetary limit on Minister’s liability

13. Counter guarantee schemes

14. Payment of premium to Minister by participating PFI

15. Review of counter guarantee scheme

16. Expenses

PART 4

Unrelated Miscellaneous Amendments to other Enactments

17. Amendment of section 101 of Employment Equality Act 1998

18. Amendment of section 34 of National Minimum Wage Act 2000

19. Amendment of Workplace Relations Act 2015

20. Amendment of section 916 of Companies Act 2014

Number

1

of

2016