Control of Secured Borrowings by General Government - Explainer

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 Robert Troy T.D. via the Finance (Delegation of Ministerial Functions) Order 2025.

The bodies obliged to seek consent are listed in Statutory Instrument No. 334/2025, which replaces and revokes earlier Statutory Instruments (No. 581 of 2022, No. 750 of 2020, 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.

Circular No. 01/2021 Control of Secured Borrowing by General Government