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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 December 2009 - onwards
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50. Financing arrangements - limits on borrowings.

(1) NAMA may, from time to time, exercise its power to borrow, with or without the guarantee of the Minister, such sums of money as are required for the performance of its functions under this Act.

(2) The Minister may guarantee the repayment by NAMA or a NAMA group entity of the principal of any sum borrowed by NAMA or the NAMA group entity or the payment of interest on that sum or the repayment of both principal and interest.

(3) The aggregate of the principal of all sums outstanding for purposes other than the provision of consideration for the acquisition of bank assets shall not exceed €5,000,000,000 or such other amount that the Minister specifies by order for the purposes of this subsection.

(4) The aggregate of the principal of all debt securities issued to enable the provision of consideration for the acquisition of bank assets shall not exceed €54,000,000,000 or such other amount as the Minister may specify by order for the purposes of this subsection.

(5) Where the Minis

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