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Enacted Dáil
No. 8 of 2020

Financial Provisions (Covid-19) Bill 2020

Public bill · Government · Presented

It lets Ireland join two EU-backed Covid-19 support schemes: one to help fund unemployment support and another to back businesses and investment across Europe. It also gives the State authority to make the required guarantees and payments, sets spending limits of about €483.4 million for SURE and €167.5 million for the EIB fund, and requires reporting to the Dáil on how the guarantees are used. The bill also clarifies how the Strategic Banking Corporation of Ireland can issue guarantees and makes it easier to enforce certain Council of Europe arbitration awards in Irish courts.

Formal long title

Bill entitled an Act to enable the State to participate in the European instrument for temporary support to mitigate unemployment risks in an emergency (SURE) established by Article 1 of Council Regulation (EU) 2020/672 of 19 May 2020 and, for that purpose, to enable the State to enter into the guarantee provided for in Article 11(2) and (3) of that Council Regulation; as respects a certain Fund (the Pan-European Guarantee Fund), the subject of a resolution of the board of directors of the European Investment Bank of 26 May 2020, and which Fund will be established in the circumstances as provided for in that resolution, to enable the State to participate in that Fund and, for that purpose, to enable the State to enter into a certain guarantee agreement and a certain contribution agreement connected with the operation of that Fund; to amend section 5 of the Strategic Banking Corporation of Ireland Act 2014 in relation to the giving of guarantees by the Strategic Banking Corporation of Ireland; to make provision for the enforcement of arbitral awards to which the Third Protocol (done at Strasbourg on 6 March 1959) to the General Agreement on Privileges and Immunities of the Council of Europe (done at Paris on 2 September 1949) applies; and to provide for related matters.

Last updated 11 August 2020

Sponsor
  • Minister for Finance Primary
Progress
  • First Stage
    Dáil
  • Second Stage
    Dáil
  • Committee Stage
    Dáil
  • Report Stage
    Dáil
  • Fifth Stage
    Dáil
  • Second Stage
    Seanad
  • Committee Stage
    Seanad
  • Report Stage
    Seanad
  • Fifth Stage
    Seanad Enacted
  • Enacted
    Enacted
Debates
  • Financial Provisions (Covid-19) Bill 2020: Second Stage
    Seanad
  • Financial Provisions (Covid-19) Bill 2020: Committee and Remaining Stages
    Seanad
  • Financial Provisions (Covid-19) Bill 2020: Second Stage (Resumed)
    Dáil
  • Financial Provisions (Covid-19) Bill 2020: Committee and Remaining Stages
    Dáil
  • Financial Provisions (Covid-19) Bill 2020: Order for Second Stage
    Dáil
  • Financial Provisions (Covid-19) Bill 2020: Second Stage
    Dáil

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