Bretton Woods Agreements (Amendment) Act 2022
|
Contributions to prescribed trust funds | ||
|
6. (1) For the purposes of this section “prescribed trust fund” means a trust or other contribution-based financing mechanism prescribed by the Minister in accordance with subsection (2). | ||
(2) The Minister may by order prescribe a trust or other contribution-based financing mechanism to be a prescribed trust fund where it is established in accordance with Article V, Section 2(b) of the Articles of Agreement of the Fund. | ||
(3) The Minister may, subject to subsections (4) and (5), make payments in respect of a prescribed trust fund out of the Central Fund or the growing produce thereof. | ||
(4) Where the Minister proposes to make a payment under subsection (3), the proposal shall be laid before Dáil Éireann as soon as may be and, if a resolution annulling such a proposal is passed by Dáil Éireann within the next 21 days on which Dáil Éireann has sat after the proposal is laid before it, the proposal shall be annulled accordingly and the Minister shall not make such a payment. | ||
(5) The aggregate amount of any payment that the Minister may make under subsection (3)— | ||
(a) in respect of a single prescribed trust fund, shall not exceed €50,000,000, and | ||
(b) in respect of all prescribed trust funds, the PRGT (within the meaning of the Bretton Woods Agreements (Amendment) Act 1999 ) and the CCRT, shall not exceed €325,000,000. | ||
(6) An order under subsection (2) shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the order is passed by either such House within the next 21 days on which that House sits after the order is laid before it, the order shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder. |