Social Welfare (Amendment) Act, 1981

Amendment of section 269 of Principal Act.

20.—Section 269 of the Principal Act (which relates to the Supplementary Unemployment Fund) is hereby amended by the substitution for subsections (4) and (5) of the following subsections:

“(4) Any moneys forming part of the 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 Fund and income arising from any such investment shall be paid into the Fund.

(5) An investment under subsection (4) may be in any securities in which trustees are for the time being by law empowered to invest trust funds or in any of the stocks, funds and securities which are for the time being authorised by law as investments for Post Office Savings Bank Funds.”.