Social Welfare (Consolidation) Act, 1981
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Occupational Injuries Fund. [1966 OI, s. 37] |
67.—(1) The Occupational Injuries Fund established under the Social Welfare (Occupational Injuries) Act, 1966 , shall continue in being and to comprise a current account, to be managed and controlled by the Minister, and an investment account, to be managed and controlled by the Minister for Finance. | |
(2) (a) Notwithstanding any provision to the contrary, occupational injuries benefits, together with any other payments which under this Chapter are payable out of the Occupational Injuries Fund, shall be paid out of the current account of that Fund, and, for the purpose of providing the moneys for meeting the expenditure on such benefits and other payments, employment contributions paid into the Social Insurance Fund consequent upon section 65 (2) (a) and increases of employment contributions so paid consequent upon section 65 (2) (b) shall be paid out of that Fund to the current account of the Occupational Injuries Fund. | ||
(b) The following sums paid out of the Social Insurance Fund shall be repaid to that Fund out of the Occupational Injuries Fund— | ||
[1970, s. 20] | ||
(i) sums paid by way of disability benefit or invalidity pension in respect of incapacity for work arising out of an occupational accident, or a disease or injury prescribed for the purposes of section 54 , to a person who is entitled to disablement benefit in respect of such accident, disease or injury, | ||
[1970, s. 20] | ||
(ii) sums paid, in respect of any period by way of disability benefit or invalidity pension in respect of incapacity for work arising out of an injury or disease, being sums paid to a person who is or has been on or after 1st October, 1965, entitled to weekly payments of compensation under the Workmen's Compensation Acts in respect of such injury or disease. | ||
(3) Moneys standing to the credit of the current account of the Occupational Injuries Fund and not required to meet current expenditure shall be transferred to the investment account of that Fund. | ||
(4) Whenever the moneys in the current account of the Occupational Injuries Fund are insufficient to meet the liabilities of that account, there shall be transferred to that account from the investment account of that Fund such sums as may be necessary for the purpose of discharging those liabilities. | ||
(5) Subject to subsection (4), moneys standing to the credit of the investment account of the Occupational Injuries Fund shall be invested by the Minister for Finance and income arising from any such investment shall be paid into that account. | ||
(6) An investment pursuant to subsection (5) may be in any securities in which trustees are for the time being by law empowered to invest trust funds or in any of the stocks, funds and securities which are for the time being authorised by law as investments for Post Office Savings Bank Funds. | ||
(7) Accounts of the Occupational Injuries Fund shall be prepared in such form, in such manner and at such times as the Minister for Finance may direct and the Comptroller and Auditor General shall examine and certify every such account and a copy thereof, together with the report thereon of the Comptroller and Auditor General, shall be laid before each House of the Oireachtas. | ||
(8) There shall be recoverable from the Occupational Injuries Fund at such times and in such manner as may be directed by the Minister for Finance— | ||
(a) expenses of the Minister (determined on such basis as he considers proper) pursuant to this Chapter, and | ||
(b) expenses of any other Minister (determined on such basis as may be agreed upon between him and the Minister) relating to this Chapter. | ||
(9) Moneys received pursuant to subsection (8) shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct. | ||
(10) In estimating expenses for the purposes of subsection (8), there shall be included such amount as, in the opinion of the Minister for Finance, represents the amount of the accruing liability in respect of any superannuation or other retiring allowances, lump-sums or gratuities accruing in respect of the employment of any officer or other person for the purposes of this Chapter. | ||
(11) (a) The Minister shall cause actuarial reviews to be made into the financial condition of the Occupational Injuries Fund, having regard, in particular, to the adequacy or otherwise of the contributions to support the benefits and other payments, and shall cause a copy of every report of the actuary under this subsection to be laid before each House of the Oireachtas. | ||
(b) A review under this subsection shall be made in respect of the five-year period ending with 31st December, 1983, and thereafter in respect of the period ending with 31st December in every fifth year, subject to the proviso that the Minister may vary the period to be covered by any such review. |