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Control of Secured Borrowings by General Government - Explainer
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Section 67 of the Credit Institutions (Stabilisation) Act 2010 provides that Local Authorities and certain prescribed bodies must seek the consent of the Minister for Finance in order to enter into secured borrowings. This consent is a power and duty of the Minister of Finance, and is now delegated to Minister of State Seán Fleming T.D. via the Finance (Delegation of Ministerial Functions) Order 2020.
The bodies obliged to seek consent are listed in Statutory Instrument No. 750 of 2020, which replaces and revokes earlier Statutory Instruments (No. 40/2011, No. 120/2014, No. 118/2018 and No. 522/2018).
If you act on behalf of one of the prescribed bodies and wish to process a request for Ministerial consent, please complete the application form below and return it to the Post-Programme Central Unit at cipu@finance.gov.ie .
