Local Government Act, 1998

Local Government Fund.

3.—(1) There shall stand established, on the commencement of this section, a fund which shall be known as the Local Government Fund and is in this Act referred to as “the Fund”.

(2) The Minister shall manage and control the Fund.

(3) The Fund shall consist of such accounts as the Minister may determine.

(4) The said accounts shall be in such form and be prepared in such manner as the Minister may determine.

(5) As soon as may be after the end of each financial year, the Minister shall submit the accounts of the Fund to the Comptroller and Auditor General for audit and the Minister shall cause a copy of an abstract of the accounts as so audited together with a copy of the report of the Comptroller and Auditor General thereon to be laid before each House of the Oireachtas.

(6) The Minister shall cause the Local Government (Equalisation) Fund to be wound up with effect from the commencement of this section and all balances remaining to the credit of that fund immediately before such commencement to be paid into the Fund.