IE-2021-act-38 — Finance (European Stability Mechanism and Single Resolution Fund) Act 2021

Definitions 1. In this Act— “Act of 2012” means the European Stability Mechanism Act 2012 ; “Act of 2014” means the European Stability Mechanism (Amendment) Act 2014 ; “Act of 2015” means the Finance (Miscellaneous Provisions) Act 2015 ; “Amending Agreement” means the Agreement amending the Treaty establishing the European Stability Mechanism done at Brussels on 27 January 2021 and on 8 February 2021 between the Euro Area Member States of the European Union, the text of which is, for ease of reference, set out in— (a) Part 1 of Schedule 1 in the Irish language, and (b) Part 2 of Schedule 1 in the English language; “ESM Treaty” means the Treaty establishing the European Stability Mechanism done at Brussels on 2 February 2012 between the Euro Area Member States of the European Union as adapted in consequence of the accession of the Republic of Latvia to it on 13 March 2014 and as further adapted in consequence of the accession of the Republic of Lithuania to it on 3 February 2015, the text of which (including the Annexes) is, for ease of reference, set out in— (a) Part 1 of Schedule 2 in the Irish language, and (b) Part 2 of Schedule 2 in the English language; “Intergovernmental Agreement” means the Agreement amending the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 27 January 2021 and on 8 February 2021, the text of which is, for ease of reference, set out in— (a) Part 1 of Schedule 3 in the Irish language, and (b) Part 2 of Schedule 3 in the English language; “Minister” means the Minister for Finance. Approval of terms of Amending Agreement 2. The terms of the Amending Agreement are hereby approved. Amendment of Act of 2012 3. The Act of 2012 is amended— (a) in section 1, by the substitution of the following definition for the definition of “Treaty”: “ ‘Treaty’ means the Treaty establishing the European Stability Mechanism done at Brussels on 2 February 2012 between the Euro Area Member States of the European Union as adapted in consequence of the accession of the Republic of Latvia to it on 13 March 2014 and as further adapted in consequence of the accession of the Republic of Lithuania to it on 3 February 2015, as amended by the Agreement amending the Treaty establishing the European Stability Mechanism done at Brussels on 27 January 2021 and on 8 February 2021 between the Euro Area Member States of the European Union.”, and (b) in section 3, by the substitution of “€11,119,500,000” for “€11,145,400,000”. Amendment of Act of 2014 4. Section 1(1) of the Act of 2014 is amended by the substitution of the following definition for the definition of “Treaty”: “‘Treaty’ has the meaning given to it by section 1 (amended by section 3 (a) of the Finance (European Stability Mechanism and Single Resolution Fund) Act 2021 ) of the Principal Act.”. Approval of terms of Intergovernmental Agreement 5. (1) The terms of the Intergovernmental Agreement are hereby approved. (2) The Minister shall, as soon as may be after the date from which the Intergovernmental Agreement applies in accordance with Article 5(2) of that Agreement, cause notice of the coming into operation of section 6 on that date to be published— (a) in Iris Oifigiúil , and (b) on a website maintained by or on behalf of the Minister or the Government. Amendment of Act of 2015 6. Section 3(1) of the Act of 2015 is amended by the substitution of the following definition for the definition of “Agreement”: “‘Agreement’ means the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 21 May 2014 as amended by the Agreement amending the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund done at Brussels on 27 January 2021 and on 8 February 2021;”. Expenses 7. Any expenses incurred by the Minister in the administration of this Act shall be paid out of moneys provided by the Oireachtas. Short title, commencement, collective citation and construction 8. (1) This Act may be cited as the Finance (European Stability Mechanism and Single Resolution Fund) Act 2021. (2) Section 6 shall come into operation on the date from which the Intergovernmental Agreement applies in accordance with Article 5(2) of that Agreement. (3) The European Stability Mechanism Acts 2012 and 2014 and sections 2 , 3 and 4 may be cited together as the European Stability Mechanism Acts 2012 to 2021 and shall be read together as one.