7. Other income
| 2016 €000 |
12 Sept 2014 to 31 Dec 2015 €000 |
|
|---|---|---|
| Credit Guarantee Scheme management fee | 286 | - |
Pursuant to a Co-Operation agreement dated 13th October 2016 (the “Co-Operation Agreement”) between the Minister for Jobs, Enterprise and Innovation (the “Minister for JEI”) and the SBCI, the SBCI assumed the role of operator and manager of all schemes created under the Credit Guarantee Acts 2012 and 2016 on behalf of the Minister for JEI.
The SBCI receives a fee from the Minister for JEI based on the recovery of the costs and expenses incurred by the SBCI in providing the services as set out in the Co-Operation Agreement. No financial gain or loss is made by the SBCI in providing the services as set out in the Co-Operation Agreement.