National Pensions Reserve Fund Act, 2000


2.—(1) In this Act—

“Agency” means National Treasury Management Agency;

“beneficiary” in respect of a social welfare pension, means a person entitled to or in receipt of such pension;

“Commission” means National Pensions Reserve Fund Commission established under section 5 ;

“committee” means a committee established under section 14 ;

“Committee of Public Accounts” means the Committee of Dáil éireann established under the Standing Orders of Dáil éireann to examine and report to Dáil éireann on the appropriation accounts and reports of the Comptroller and Auditor General;

“company” means—

(a) a company within the meaning of the Companies Acts, 1963 to 1999, or

(b) a body established under the laws of a state other than the State and corresponding to a body referred to in paragraph (a);

“custodian” means a person appointed as a custodian under section 22 (3);

“establishment day” means the day appointed by the Minister under section 3 to be the establishment day;

“functions” includes powers and duties, and reference to the performance of functions includes, as respects powers and duties, references to the exercise of the powers and the performance of the duties;

“Fund” means National Pensions Reserve Fund established under section 18 ;

“Fund investment policy” shall be construed in accordance with section 19 ;

“Gross National Product” means the estimate for the year in which payments to the Fund are made under section 18 , as published by the Minister with the Budget for that year, of gross domestic product, at market prices, as measured and defined by the European System of National and Regional Accounts in the European Community pursuant to Council Regulation (EC) No. 2223/96 of 25 June 19961 , or subsequent revisions and amendments thereto, plus net receipts, property income and compensation of employees from outside the State;

“investment manager” means a person appointed as an investment manager under section 22 (1);

“Manager” means the person appointed as manager of the Fund under section 21 ;

“Minister” means Minister for Finance;

“public service pensions” means occupational pensions, gratuities and other allowances payable to or in respect of persons on resignation, retirement or death which are wholly or partly funded from moneys provided by the Oireachtas or from the Central Fund or the growing produce thereof;

“social welfare pensions” means any pension referred to in section 30, or section 118, of the Social Welfare (Consolidation) Act, 1993 , in so far as it is payable to or in respect of a beneficiary;

“Temporary Fund” means Temporary Holding Fund for Superannuation Liabilities.

(2) In this Act—

(a) a reference to a Part or section is a reference to a Part or section of this Act, unless it is indicated that reference to some other enactment is intended,

(b) a reference to a subsection, paragraph or subparagraph is a reference to the subsection, paragraph or subparagraph of the provision in which the reference occurs, unless it is indicated that reference to some other provision is intended, and

(c) a reference to an enactment shall be construed as a reference to that enactment as amended, adapted or extended by or under any subsequent enactment including this Act.

1 O.J. No. L310, 30.11.96, p.1