Commission to Inquire into Child Abuse (Amendment) Act 2005

Establishment of Education (Former Residents of Certain Institutions for Children) Finance Board.

24.—(1) There shall stand established on the establishment day a body which shall be known as An Bord Airgeadais Oideachais (Iar-Chónaitheoirí de chuid Foras Áirithe do Leanaí) or, in the English language, the Education (Former Residents of Certain Institutions for Children) Finance Board and is referred to in this Act as “the Board”, to perform the functions conferred on it by or under this Act.

(2) The Board shall be a body corporate with perpetual succession and a seal and shall have power to sue and may be sued in its corporate name and may, with the consent of the Minister for Finance, acquire, hold and dispose of land or an interest in land and may acquire, hold and dispose of any other property.

(3) The Schedule to this Act applies to the Board.

(4) The Board and its members shall be independent in the performance of their functions.

(5) When the Minister is satisfied, after consultation with the chairperson of the Board, that the Board has completed the performance of its functions, the Minister may by order dissolve the Board and may, subject to the provisions of this Part, include in the order such incidental, ancillary or consequential provisions as the Minister considers necessary or expedient.

(6) Where an order under subsection (5) is proposed to be made, a draft of the order shall be laid before each House of the Oireachtas and the order shall not be made until a resolution approving of the draft has been passed by each such House.