22 1988

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Number 22 of 1988


INSURANCE (EXPORT GUARANTEES) ACT, 1988


ARRANGEMENT OF SECTIONS

Section

1.

Export guarantees.

2.

Short title and collective citation.


Acts Referred to

Insurance Act, 1953

1953, No. 7

Insurance Act, 1981

1981, No. 34

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Number 22 of 1988


INSURANCE (EXPORT GUARANTEES) ACT, 1988


AN ACT TO INCREASE THE AGGREGATE AMOUNT OF THE LIABILITY WHICH THE MINISTER FOR INDUSTRY AND COMMERCE MAY INCUR IN THE GIVING OF GUARANTEES WITH RESPECT TO THE INSURANCE OF RISKS IN CONNECTION WITH EXTERNAL TRADE. [5th July, 1988]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Export guarantees.

1. —(1) Section 2 of the Insurance Act, 1953 , is hereby amended by the substitution, for subsection (3), of the following subsection:

“(3) The aggregate amount of the liability at any time of the Minister in respect of arrangements under this section shall not exceed £500,000,000.”.

(2) Section 2 of the Insurance Act, 1981 , is hereby repealed.

Short title and collective citation.

2. —(1) This Act may be cited as the Insurance (Export Guarantees) Act, 1988.

(2) The Insurance Acts, 1909 to 1985, and this Act may be cited together as the Insurance Acts, 1909 to 1988.