Seanad debates

Tuesday, 17 December 2002

National Development Finance Agency Bill, 2002: Second Stage.

 

Section 6 provides that the agency can borrow money in any currency subject to the consent of the Minister for Finance. The combined net aggregate of the principal of money raised and outstanding by the agency and any companies formed under section 5, and/or guaranteed by the Minister for Finance, cannot exceed €5 billion. The section also provides that the agency can engage in transactions of a normal banking nature with the Minister and any other persons in order to perform any of its functions.

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