Financial Provisions (Covid-19) Act 2020
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Contribution Agreement and Fund Guarantee may be entered into by State | ||
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7. (1) The State may enter into— | ||
(a) the Contribution Agreement, and | ||
(b) the Fund Guarantee. | ||
(2) The amount that may be contributed by the State to the Fund under the Contribution Agreement and the amount that may be paid by the State under the Fund Guarantee shall not, in aggregate, exceed €167,500,000. | ||
(3) For the purpose of subsection (1)— | ||
(a) the Minister may execute the Contribution Agreement and enter into the commitments provided by that agreement, | ||
(b) the Minister may execute the Fund Guarantee and enter into the commitments provided by that guarantee, and | ||
(c) the Minister shall have all such powers as may be required to do any thing necessary or expedient to be done for the purposes of the State’s performing its obligations under the Contribution Agreement and the Fund Guarantee. | ||
(4) Subject to subsection (5), the State may agree to an amendment being made to— | ||
(a) the Contribution Agreement, or | ||
(b) the Fund Guarantee, | ||
or both. | ||
(5) If any amendment is proposed to be made to the Contribution Agreement or the Fund Guarantee, a draft of the proposed agreement providing for the amendment and containing the text of the amendment shall be laid by the Minister before Dáil Éireann and the amendment shall not be made unless and until a resolution approving the amendment has been passed by that House. | ||
(6) Any amendment made to the Contribution Agreement or the Fund Guarantee in accordance with subsections (4) and (5) shall be published in Iris Oifigiúil by the Minister. | ||
(7) A reference in this section or section 8 or 9 to the Contribution Agreement or the Fund Guarantee shall, where the context admits, include a reference to that agreement or guarantee as amended in accordance with subsections (4) and (5). |