National Treasury Management Agency (Amendment) Act 2014


Number 23 of 2014


NATIONAL TREASURY MANAGEMENT AGENCY (AMENDMENT) ACT 2014

REVISED

Updated to 29 May 2018


This Revised Act is an administrative consolidation of the National Treasury Management Agency (Amendment) Act 2014. It is prepared by the Law Reform Commission in accordance with its function under the Law Reform Commission Act 1975 (3/1975) to keep the law under review and to undertake revision and consolidation of statute law.

All Acts up to and including Criminal Justice (Corruption Offences) Act 2018 (9/2018), enacted 5 June 2018, and all statutory instruments up to and including National Treasury Management Agency (Delegation of Claims for Costs Management Functions) Order 2018 (S.I. No. 191 of 2018), made 29 May 2018, were considered in the preparation of this Revised Act.

Disclaimer: While every care has been taken in the preparation of this Revised Act, the Law Reform Commission can assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up to date nature of the information provided and does not accept any liability whatsoever arising from any errors or omissions. Please notify any errors, omissions and comments by email to

revisedacts@lawreform.ie.


Number 23 of 2014


NATIONAL TREASURY MANAGEMENT AGENCY (AMENDMENT) ACT 2014

REVISED

Updated to 29 May 2018


Introduction

This Revised Act presents the text of the Act as it has been amended since enactment, and preserves the format in which it was passed.

Related legislation

National Treasury Management Agency Acts 1990 to 2014 : this Act is one of a group of Acts included in this collective citation, to be construed together as one ( National Treasury Management Agency (Amendment) Act 2014 (23/2014), s. 1(2)). The Acts in this group are:

National Treasury Management Agency Act 1990 (18/1990)

National Treasury Management Agency (Amendment) Act 2000 (39/2000)

National Treasury Management Agency (Amendment) Act 2014 (23/2014)

Annotations

This Revised Act is annotated and includes textual and non-textual amendments, statutory instruments made pursuant to the Act and previous affecting provisions.

An explanation of how to read annotations is available at

www.lawreform.ie/annotations.

Material not updated in this revision

Where other legislation is amended by this Act, those amendments may have been superseded by other amendments in other legislation, or the amended legislation may have been repealed or revoked. This information is not represented in this revision but will be reflected in a revision of the amended legislation if one is available.

Where legislation or a fragment of legislation is referred to in annotations, changes to this legislation or fragment may not be reflected in this revision but will be reflected in a revision of the legislation referred to if one is available.

A list of legislative changes to any Act, and to statutory instruments from 1985, may be found linked from the page of the Act or statutory instrument at

www.irishstatutebook.ie.

Acts which affect or previously affected this revision

Finance (Miscellaneous Provisions) Act 2015 (37/2015)

All Acts up to and including Criminal Justice (Corruption Offences) Act 2018 (9/2018), enacted 5 June 2018, were considered in the preparation of this revision.

Statutory instruments which affect or previously affected this revision

National Treasury Management Agency (Delegation of Claims for Costs Management Functions) Order 2018 (S.I. No. 191 of 2018)

National Treasury Management Agency (Amendment) Act 2014 (Specified Sector) Order 2018 (S.I. No. 111 of 2018)

National Treasury Management Agency (Amendment) Act 2014 (Designated Body) Order 2018 (S.I. No. 110 of 2018)

National Treasury Management Agency (Delegation of Claims for Costs Management Functions) Order 2015 (S.I. No. 505 of 2015)

National Treasury Management Agency (Amendment) Act 2014 (State Authorities) Order 2015 (S.I. No. 486 of 2015)

National Treasury Management Agency (Amendment) Act 2014 (Commencement) Order 2015 (S.I. No. 22 of 2015)

National Treasury Management Agency (Amendment) Act 2014 (Commencement)(No. 2) Order 2015 (S.I. No. 586 of 2014)

National Treasury Management Agency (Amendment) Act 2014 (Commencement) Order 2015 (S.I. No. 414 of 2014)

All statutory instruments up to and including National Treasury Management Agency (Delegation of Claims for Costs Management Functions) Order 2018 (S.I. No. 191 of 2018), made 29 May 2018, were considered in the preparation of this revision.


Number 23 of 2014


NATIONAL TREASURY MANAGEMENT AGENCY (AMENDMENT) ACT 2014

REVISED

Updated to 29 May 2018


CONTENTS

PART 1

Preliminary and General

Section

1. Short title, collective citation, construction and commencement

2. Definitions

3. Expenses

4. Orders

5. Amendments

6. Repeals

PART 2

National Treasury Management Agency

7. Interpretation

8. Membership

9. Procedure

10. Committees

11. Chief Executive

12. Accountability of Chief Executive

13. Disqualification of members of staff

14. Accounts and audit

15. Disclosure of interests

16. Indemnification

17. Disclosure of confidential information

PART 3

State Assets and Investment

18. Introductory

19. Financial and commercial advisory functions relating to designated bodies

20. Financial and commercial advisory functions relating to other bodies

21. Annual performance reports on designated bodies

22. Proposals for investment

23. Obligations of Ministers

24. Procedures

PART 4

Infrastructure Projects

25. Interpretation

26. Functions relating to projects

27. Policy directions and guidance

28. Obligation of State authority

29. Prescribing of State authority, etc.

30. Repayment of expenses of Agency

PART 5

Claims Management

31. Interpretation

32. Claim for costs — definition

33. Additional functions of Agency

34. Delegation to Agency of claims for costs management function

35. Functions of Attorney General

36. Satisfaction of claims for costs

PART 6

Ireland Strategic Investment Fund

37. Interpretation

38. Ireland Strategic Investment Fund

39. Investment policy for Fund

40. Investment strategy for Fund

41. Management of Fund

42. Directions to make certain investment, etc.

43. Directions in relation to certain investments

44. Relevant acquisitions and relevant transfers

45. Certain persons not to be shadow directors

46. Payments to Fund

47. Payments from Fund to Exchequer

48. Expenses of Agency in relation to Fund

49. Report and information to Minister relating to operation of Fund

PART 7

Other Provisions

Chapter 1

Dissolution of National Pensions Reserve Fund Commission

50. Dissolution of National Pensions Reserve Fund Commission

Chapter 2

Dissolution of National Development Finance Agency

51. Dissolution of National Development Finance Agency

Chapter 3

Dissolution of Committees

52. Dissolution of Advisory Committee

53. Dissolution of State Claims Policy Committee

Chapter 4

Transitional provisions

54. Transitional provision

PART 8

Miscellaneous

55. Amendment of section 6 (directions) of State Authorities (Public Private Partnership Arrangements) Act 2002

56. Amendment of Schedule 5 (specified bodies) to Social Welfare Consolidation Act 2005

SCHEDULE 1

Amendments of Acts

PART 1

Amendment of Finance Act 1970

PART 2

Amendments of Ombudsman Act 1980

PART 3

Amendments of National Treasury Management Agency Act 1990

PART 4

Amendments of Taxes Consolidation Act 1997

PART 5

Amendments of Stamp Duties Consolidation Act 1999

PART 6

Amendments of National Treasury Management Agency (Amendment) Act 2000

PART 7

Amendments of State Authorities (Public Private Partnership Arrangements) Act 2002

PART 8

Amendment of Credit Institutions (Stabilisation) Act 2010

PART 9

Amendments of Ministers and Secretaries (Amendment) Act 2011

PART 10

Amendment of Education and Training Boards Act 2013

SCHEDULE 2

Amendments of Statutory Instruments

PART 1

Amendments of Ethics in Public Office (Prescribed Public Bodies, Designated Directorships of Public Bodies and Designated Positions in Public Bodies) Regulations 2004

PART 2

Amendments of Official Languages Act 2003 (Public Bodies) Regulations 2006

PART 3

Amendments of European Communities (Markets in Financial Instruments) Regulations 2007

PART 4

Amendment of Return of Payments (Banks, Building Societies, Credit Unions and Savings Banks) Regulations 2008

PART 5

Amendments of General Government Secured Borrowings Order 2011

PART 6

Amendment of Return of Payments (Insurance Undertakings) Regulations 2011

SCHEDULE 3

State Authorities

SCHEDULE 4

Transitional Provisions

PART 1

Introductory

PART 2

Transfers on Fund Constitution Date

PART 3

Foreign Property etc.: Interim Period

PART 4

Transfers on Finance Agency Dissolution Date

PART 5

Accounts and Reports

PART 6

Other Provisions


Acts Referred to

Arbitration Act 2010 (No. 1)

Central Bank Act 1997 (No. 8)

Children Act 2001 (No. 24)

Commissions of Investigation Act 2004 (No. 23)

Companies Act 1963 (No. 33)

Companies Act 1990 (No. 33)

Companies Acts

Competition Act 2002 (No. 14)

Comptroller and Auditor General (Amendment) Act 1993 (No. 8)

Comptroller and Auditor General Acts 1866 to 1998

Credit Institutions (Stabilisation) Act 2010 (No. 36)

Education Act 1998 (No. 51)

Education and Training Boards Act 2013 (No. 11)

Ethics in Public Office Act 1995 (No. 22)

European Parliament Elections Act 1997 (No. 2)

Finance Act 1970 (No. 14)

Forestry Act 1988 (No. 26)

Harbours Acts 1946 to 2005

Interpretation Act 2005 (No. 23)

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 (No. 7)

Irish Takeover Panel Act 1997 (No. 5)

Local Government Act 2001 (No. 37)

Ministers and Secretaries (Amendment) Act 2011 (No. 10)

Ministers and Secretaries Act 1924 (No. 16)

National Development Finance Agency (Amendment) Act 2007 (No. 16)

National Development Finance Agency Act 2002 (No. 29)

National Pensions Reserve Fund Act 2000 (No. 33)

National Treasury Management Agency (Amendment) Act 2000 (No. 39)

National Treasury Management Agency Act 1990 (No. 18)

National Treasury Management Agency Acts 1990 and 2000

Ombudsman Act 1980 (No. 26)

Prisons Act 1970 (No. 11)

Prisons Act 1972 (No. 7)

Regional Technical Colleges Act 1992 (No. 16)

Social Welfare Consolidation Act 2005 (No. 26)

Stamp Duties Consolidation Act 1999 (No. 31)

State Authorities (Public Private Partnership Arrangements) Act 2002 (No. 1)

Taxes Consolidation Act 1997 (No. 39)

Tribunals of Inquiry (Evidence) (Amendment) Act 1979 (No. 3)

Universities Act 1997 (No. 24)


Number 23 of 2014


NATIONAL TREASURY MANAGEMENT AGENCY (AMENDMENT) ACT 2014

REVISED

Updated to 29 May 2018


An Act to provide for and in connection with the reconstitution of the National Treasury Management Agency; to confer on that Agency new functions relating to State bodies and assets and proposals for investment; to transfer to that Agency functions of the National Development Finance Agency relating to infrastructure; to provide for the delegation to, and conferral on, the National Treasury Management Agency of functions in relation to the management of certain claims for costs of a legal nature against, or in favour of, the State and certain related functions; to provide for the Ireland Strategic Investment Fund and the transfer to it of the assets and liabilities of the National Pensions Reserve Fund and to provide for its management by the National Treasury Management Agency; to provide for the dissolution of the National Pensions Reserve Fund Commission, the National Development Finance Agency and certain committees; for those and other purposes to amend the National Treasury Management Agency Act 1990, the National Treasury Management Agency (Amendment) Act 2000 and certain other enactments and to repeal the National Pensions Reserve Fund Act 2000, the National Development Finance Agency Act 2002 and certain other enactments; to amend the State Authorities (Public Private Partnership Arrangements) Act 2002 and the Social Welfare Consolidation Act 2005; and to provide for related purposes.

[26 th July, 2014]

Be it enacted by the Oireachtas as follows: