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14 2009

Financial Measures (Miscellaneous Provisions) Act 2009


Guarantees by Minister for Finance

Construction of certain provisions when Minister for Finance guarantees non-equity securities, etc.

15 .— (1) A reference to a guarantor in paragraph 3(2)(e) of Schedule 1 to the Prospectus (Directive 2003/71/EC) Regulations 2005 (S.I. No. 324 of 2005) shall be taken not to include the Minister for Finance.

(2) Nothing in section 41 of the Investment Funds, Companies and Miscellaneous Provisions Act 2005 renders the Minister for Finance liable to pay compensation to any person who acquires any security the issue of which has been guaranteed by that Minister.

(3) No action or other proceeding whatsoever lies or is maintainable against the Minister for Finance in respect of any loss or damage alleged to have been caused or contributed to by any statement, misstatement or omission of information in any statement in a prospectus, offering circular or other offering document relating to any securities guaranteed by that Minister.