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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 5 December 2018 - onwards
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42A. Funding of HBFI

(1) Notwithstanding any other provision of this Act, the Minister may direct the Agency to -

(a) lend money to HBFI or any HBFI group entity out of the assets of the Fund on the commercial terms and conditions specified in the direction,

(b) exercise, on the terms and conditions specified in the direction, any rights attaching to a loan made under paragraph (a),

(c) terminate or dispose of, on the terms and conditions specified in the direction, a loan made under paragraph (a), or

(d) pay money to HBFI out of the assets of the Fund for the purposes of discharging the liability of the Minister in respect of the shares allotted and issued to the Minister under section 10(2) of the Home Building Finance Ireland Act 2018.

(2) The total amount -

(a) loaned under subsection (1)(a), and

(b) paid under subsection (1)(d),

shall not at any time exceed €750,000,000.

(3) For the purpose of calculating the amount referred to in subsection (2), the equivalent in the currency of the State of amount

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