2. (1) On the coming into operation of this section there is established a scheme to be known as the Affordable Childcare Scheme (in this Act referred to as the “Scheme”) to be operated under and in accordance with this Act.

(2) The Scheme is established for the purpose of providing financial support under this Act in respect of childcare services in accordance with this Act out of the resources allocated to the Scheme in each year in accordance with subsection (4) and shall consist of the provision of financial support in respect of childcare services for the purposes of and in accordance with the provisions of this Act and any regulations made thereunder.

(3) It shall be a function of the scheme administrator to operate and administer the Scheme.

(4) In the financial year 2019 and in each subsequent financial year the Minister shall, out of such monies as are available to the Minister for that financial year from monies provided by the Oireachtas, allocate such amount as he or she determines, with the consent of the Minister for Public Expenditure and Reform, to the scheme administrator for the provision of financial support under this Scheme in that financial year.