S.I. No. 294/1974 - Unit Trusts Act, 1972 (Section 10 (3)) Order, 1974.

S.I. No. 294 of 1974.

UNIT TRUSTS ACT, 1972 (SECTION 10 (3)) ORDER, 1974.

I, JUSTIN KEATING, Minister for Industry and Commerce, in exercise of the powers conferred on me by section 10 (3) of the Unit Trusts Act, 1972 (No. 17 of 1972), hereby order as follows:—

1. This Order may be cited as the Unit Trusts Act, 1972 (Section 10 (3)) Order, 1974.

2. This Order shall come into operation on the 1st day of November, 1974.

3. Not less than 50% of any property for the time being subject to any trust created under any registered unit trust scheme shall be Irish securities or other property in the State.

GIVEN under my Official Seal, this 25th day of September, 1974.

JUSTIN KEATING,

Minister for Industry and

Commerce.

EXPLANATORY NOTE.

The effect of this Order is to ensure that every Unit Trust registered under the Unit Trusts Act, 1972 shall have at least 50% of its assets invested in the State.