National Treasury Management Agency (Amendment) Act 2014

40

Investment strategy for Fund

40. (1) The Agency shall determine, monitor and keep under review an investment strategy for the assets of the Fund (other than directed investments) in accordance with section 39.

(2) In determining and reviewing the investment strategy, the Agency shall—

(a) have regard to the Agency’s function under section 22, and

(b) seek to ensure that investments do not have a negative impact on the net borrowing of the general government of the State for any year (as arrived at in accordance with Council Regulation (EC) No. 479/2009 of 25 May 2009 as amended by Council Regulation (EU) No. 679/2010 of 26 July 2010).

(3) In determining and reviewing the investment strategy the Agency shall consult the Minister and the Minister for Public Expenditure and Reform and have regard to any views expressed by them.

(4) For the purpose of formulating views for the purposes of subsection (3) the Minister may consult with any other Minister of the Government as the Minister considers appropriate having regard to the functions of that other Minister.

F5[(5) The Agency shall publish the investment strategy on a website maintained by, or on behalf of, the Agency.]

Annotations

Amendments:

F5

Inserted (30.07.2024) by Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024 (16/202), s. 34(2)(b), S.I. No. 387 of 2024.

F6

Inserted by Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024 (16/202), s. 34(2)(a), not commenced as of date of revision.

Modifications (not altering text):

C3

Prospective affecting provision: subs. (2A) inserted by Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024 (16/202), s. 34(2)(a), not commenced as of date of revision.

F6[(2A) The Agency shall include in the investment strategy a description of how the Agency incorporates the consideration of the risk to the assets of the Fund posed by environmental, social or governance matters of relevance to the holding and investment of the assets of the Fund in accordance with section 39, including a description of—

(a) the basis on which the Agency identifies categories of investment in which the assets of the Fund shall not be invested in light of those matters, and

(b) the categories of investment (if any) which have been so identified at the date of the publication of that investment strategy.]