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S.I. No. 177/2001 - National Pensions Reserve Fund Act, 2000 (Dissolution of Temporary Holding Fund For Superannuation Liabilities) Order, 2001

I, Charlie McCreevy, T.D., Minister for Finance, in exercise of the powers conferred on me by section 28 (2) of the National Pensions Reserve Fund Act, 2000 (No. 33 of 2000), hereby order as follows:

1.        This Order may be cited as the National Pensions Reserve Fund Act, 2000 (Dissolution of Temporary Holding Fund for Superannuation Liabilities) Order, 2001.

2.        The Temporary Holding Fund for Superannuation Liabilities is dissolved.

GIVEN under my Official Seal,

25 April 2001.

Charlie McCreevy, T.D.,

Minister for Finance.

EXPLANATORY NOTE

(This note is not a part of the Instrument, and does not purport to be a legal interpretation)

This Order dissolves the Temporary Holding Fund for Superannuation Liabilities in which moneys from the sale of Telecom Éireann and Exchequer contributions of 1% of GNP in 1999 and 2000, set aside for public service and social welfare pension prefunding, were held pending the establishment of the National Pensions Reserve Fund. The Fund has now been established and the moneys from the Temporary Holding Fund have been transferred to it.