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Loan Guarantee Schemes Agreements (Strategic Banking Corporation of Ireland) Act 2021
2 versions
· 2021-05-25
2022-12-08
IE-2021-act-9 — consolidated version 2022-12-08
Changes on 2022-12-08
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# Loan Guarantee Schemes Agreements (Strategic Banking Corporation of Ireland) Act 2021
##### 1. **Definition**
##### 1.. **Definition**
**1.** In this Act, “relevant Minister” means—
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(b) the Minister for Agriculture, Food and the Marine.
##### 2. **Powers for relevant Ministers to enter into agreements with Strategic Banking Corporation of Ireland**
##### 2.. **Powers for relevant Ministers to enter into agreements with Strategic Banking Corporation of Ireland**
**2.** (1) One or both relevant Ministers may, with the consent of the Minister for Finance and the Minister for Public Expenditure and Reform, enter into one or more agreements (each of which is, in this section, referred to as an “agreement”) with the Strategic Banking Corporation of Ireland for the purpose of facilitating access to finance for qualifying enterprises.
(2) Subject to *subsection (3)*, an agreement shall be subject to such conditions as may be specified in the agreement and may include a condition that a relevant Minister who is a party to the agreement shall provide a contribution committed for the purposes of the agreement concerned.
(3) A relevant Minister shall not exercise the powers conferred on him or her by *subsection (1)* in such manner as would result in the aggregate of the liability in respect of contributions committed under all agreements (that is, regardless of which relevant Minister is a party to the agreement concerned) for the time being in force exceeding €50 million.
(3) A relevant Minister shall not exercise the powers conferred on him or her by *subsection (1)* in such manner as would result in the aggregate of the liability in respect of contributions committed under all agreements (that is, regardless of which relevant Minister is a party to the agreement concerned) for the time being in force exceeding F1[€180 million].
(4) A relevant Minister who is a party to an agreement shall discharge any fees, costs and expenses payable under the agreement.
(5) In this section—
“branch” has the same meaning as it has in Commission Regulation (EU) 651/2014 of 17 June 2014[^1] declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, and includes an establishment within the meaning of that Regulation;
“branch” has the same meaning as it has in Commission Regulation (EU) 651/2014 of 17 June 2014^1 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, and includes an establishment within the meaning of that Regulation;
“Commission Recommendation” means Commission Recommendation (2003/361/EC) of 6 May 2003[^2] concerning the definition of micro, small and medium-sized enterprises;
“Commission Recommendation” means Commission Recommendation (2003/361/EC) of 6 May 2003^2 concerning the definition of micro, small and medium-sized enterprises;
“contribution committed” means the amount of funding committed by a relevant Minister to the Strategic Banking Corporation of Ireland under an agreement;
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“Strategic Banking Corporation of Ireland” means the company formed pursuant to the Strategic Banking Corporation of Ireland Act 2014 and known by that name.
##### 3. **Review of operation of Act**
##### 3.. **Review of operation of Act**
**3.** The relevant Ministers shall, not later than 4 years after the commencement of this section, carry out a review of the operation of this Act.
##### 4. **Expenses**
##### 4.. **Expenses**
**4.** The expenses incurred by the relevant Ministers in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Public Expenditure and Reform, be paid out of monies provided by the Oireachtas.
##### 5. **Short title and commencement**
##### 5.. **Short title and commencement**
**5.** (1) This Act may be cited as the Loan Guarantee Schemes Agreements (Strategic Banking Corporation of Ireland) Act 2021.
(2) This Act shall come into operation on such day or days as the Minister for Enterprise, Trade and Employment may appoint by order or orders either generally or with reference to any particular purpose or provision and different days may be so appointed for different purposes or different provisions.
2021-05-25
Loan Guarantee Schemes Agreements (Strategic Banking Corporation of
original version
Text at this date