Residential Institutions Statutory Fund Act 2012

Closure of account of dissolved body and end of certain functions.

41.— (1) The Board shall, not later than 30 days after the laying of accounts by the Minister under section 39 (4), request the Agency to close the investment account established by the Agency under section 26(3) of the Act of 2005 and to pay moneys, if any, standing in that account into the investment account and the Agency shall so close the account and pay moneys.

(2) The Board shall not perform any functions conferred on the dissolved body under section 27 of the Act of 2005 on or after the day the investment account established under section 26(3) of the Act of 2005 is closed under subsection (1).