Insurance (Intermittent Unemployment) Act, 1942
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PART V. The Supplementary Unemployment Fund. | ||
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Establishment of Supplementary Unemployment Fund. |
45.—(1) For the purpose of this Act there shall be established, under the control and management of the Minister, a fund to be called and known as the Supplementary Unemployment Fund into which shall be paid all weekly contributions payable by employers and insured persons and any other moneys which under this Act are to be paid into the said Fund and out of which shall be paid all payments which under this Act are to be made out of the said Fund. | |
(2) The accounts of the Supplementary Unemployment Fund shall be kept in such form as the Minister for Finance may direct or approve. | ||
(3) The accounts of the Supplementary Unemployment Fund for every year of account shall be submitted for audit to the Comptroller and Auditor-General and when examined and certified shall be laid before each House of the Oireachtas. | ||
(4) Any moneys forming part of the Supplementary Unemployment Fund may from time to time be paid over to the Minister for Finance and by him invested and kept invested at his discretion on behalf of the said Fund in all or any of the following ways, that is to say, in the purchase of any stock, fund or security in which trustees are authorised by the law for the time being in force to invest trust funds or in the purchase of any stock, shares or security the principal and interest of which are guaranteed under statutory authority by the Government and any interest received from such investment shall be paid into the said Fund. | ||
(5) Moneys available for investment under the immediately preceding sub-section of this section shall be Government money within the meaning of the Approved Investments Act, 1933 (No. 34 of 1933), and that Act shall apply in regard thereto accordingly. |