Microenterprise Loan Fund Act 2012


Investment of moneys standing to credit of Fund.

6.— (1) Moneys standing to the credit of the Fund that are not, for the time being, required for the purpose of lending money to microenterprises in accordance with section 7 or the making of payments in accordance with section 19 may be invested by the subsidiary—

(a) in such securities (other than shares in a company) as it considers appropriate, or

(b) by deposit of the moneys in a credit institution,

in the currency of the State.

(2) The subsidiary may, from time to time and at its discretion, vary or sell any investments made under subsection (1).

(3) Moneys standing to the credit of the Fund shall not be used for any purpose other than the purposes of this Act.

(4) In this section “credit institution” has the same meaning as it has in the Central Bank and Credit Institutions (Resolution) Act 2011.