S.I. No. 102/2009 - Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 (Commencement) Order 2009


S.I. No. 102 of 2009

INVESTMENT OF THE NATIONAL PENSIONS RESERVE FUND AND MISCELLANEOUS PROVISIONS ACT 2009 (COMMENCEMENT) ORDER 2009

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 31st March, 2009.

I, BRIAN LENIHAN, Minister for Finance, in exercise of the powers conferred on me by section 13(2) of the Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 (No. 7 of 2009), hereby order as follows:

1. This Order may be cited as the Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 (Commencement) Order 2009.

2. The 30th day of March 2009 is appointed as the day on which the Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 (No. 7 of 2009) (other than paragraphs (d) and (e) of section 3) comes into operation.

/images/ls

GIVEN under my Official Seal,

27 March 2009

BRIAN LENIHAN,

Minister for Finance.

EXPLANATORY NOTE

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

This order is made under section 13(2) of the Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 (“the Act”) and commences those sections of the Act which have not come into effect. The purpose of the Act is, inter alia, to amend the National Pensions Reserve Fund Act 2000 to allow the Minister for Finance to direct the National Pensions Reserve Fund Commission to make investments in the public interest in listed credit institutions. It also enables the Minister to make additional payments into the Fund for the purposes of investing in a listed credit institution and to transfer into the Fund a shareholding or other interest held by him. These additional payments and transfers will count towards the requirement to make annual contributions to the Fund in future years. The Act also enables the Minister to make regulations requiring persons with holdings of certain financial instruments to disclose information in relation to such holdings.