(1) The Minister may by order, in respect of one or more than one date and under such terms and conditions as the Minister determines, redenominate into the euro unit all or part of the outstanding debt duly issued by or on behalf of the State under the law of the State and denominated in the Irish pound unit, and the Minister may by order amend or revoke an order under this subsection but shall not revoke an order after its effective date.

(2)

(a)

 (i) The Minister may redenominate into the euro unit all or part of the outstanding debt duly issued by or on behalf of the State and denominated in any national currency unit, where the Member State in the national currency unit of which the debt is denominated has redenominated into the euro unit all or part of its general government debt denominated in its national currency unit.

(ii) The terms and conditions in accordance with which the Minister may effect a redenomination under subparagraph (i) shall be those laid down in the law of the Member State under which the debt was issued.

(iii) Prior notice in the Iris Oifigiúil of an intention to effect a redenomination under subparagraph (i) shall be given by the Minister at least one month in advance of such redenomination.