S.I. No. 121/1976:

EUROPEAN COMMUNITIES (STATE FINANCIAL TRANSACTIONS) REGULATIONS, 1976.

EUROPEAN COMMUNITIES (STATE FINANCIAL TRANSACTIONS) REGULATIONS, 1976.

I, RICHIE RYAN, Minister for Finance, in exercise of the powers conferred on me by section 3 of the European Communities Act, 1972 (No. 27 of 1972), hereby make the following regulations:

1. These Regulations may be cited as the European Communities (State Financial Transactions) Regulations, 1976.

2. (1) The Minister for Finance may, on behalf of the State, enter into such contracts of guarantee, and loan contracts, as are necessitated by the obligations of membership of the State of the European Communities.

(2) In this Regulation--

"contracts of guarantee" means contracts under which the State becomes liable in respect of the whole or part of the financial obligations incurred by the recipients of loans under the terms of the loans;

"loan contracts" means contracts providing for loans under which the State advances the whole or part of the loans.

GIVEN under my Official Seal, this 8th day of June 1976.

RICHIE RYAN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations are designed to enable the Minister for Finance to enter into such contracts of guarantee, and loan contracts, as are necessiated by the obligations of membership of the State of the European Communities.