Microenterprise Loan Fund Act 2012

9.

Gifts.

9.— (1) The Minister or the subsidiary may, with the consent of the Minister for Public Expenditure and Reform, accept a gift of moneys (the purpose of the making of which is to benefit the Fund) upon such trusts or conditions (if any) as may be specified by the donor.

(2) The Minister or the subsidiary may, with the consent of the Minister for Public Expenditure and Reform, accept a gift of land or other property (the purpose of the making of which is to enable the realisation of its value for the benefit of the Fund) upon such trusts or conditions (if any) as may be specified by the donor.

(3) The Minister or the subsidiary shall not accept a gift of moneys, land or other property if the trusts or conditions attached to it would be inconsistent with the functions of the Minister, the Minister for Finance, the Minister for Public Expenditure and Reform, the Social Finance Foundation or the subsidiary under this Act.

(4) ( a) The Minister shall, in such manner as, with the consent of the Minister for Public Expenditure and Reform, he or she determines, sell or otherwise dispose of any land or other property, a gift of which has been accepted by him or her under this section.

( b) The subsidiary shall, in such manner as, with the consent of the Minister for Public Expenditure and Reform, it determines, sell or otherwise dispose of any land or other property, a gift of which has been accepted by it under this section.

(5) The Minister shall, as soon as may be after accepting a gift of moneys in accordance with this section, pay those moneys to the subsidiary.

(6) The Minister shall, as soon as may be after the sale or other disposal of any land or other property accepted by him or her as a gift in accordance with this section, pay to the subsidiary the proceeds of such sale or disposal.

(7) Nothing in this section shall operate to restrict or delimit any power that, apart from this section, the Minister has to accept a gift of moneys, land or other property.