Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024
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Report by Agency to Minister on proposed payments from FI Fund to Exchequer | ||
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10. (1) The Agency shall, on or before 31 July 2040 and on or before 31 July in each subsequent year, prepare and submit to the Minister a report in writing setting out— | ||
(a) the investment return of the FI Fund annualised over the relevant ten-year period in relation to the year in which the report is submitted, | ||
(b) whether that investment return from the FI Fund so annualised was less than the interest cost of the general government debt annualised over that period, and | ||
(c) the amounts that the Agency believes are appropriate to be paid from the FI Fund to the Exchequer in the year subsequent to the year in which the report is submitted and in each of the 4 years thereafter. | ||
(2) The Agency shall, in determining the amounts referred to in subsection (1)(c), have regard to— | ||
(a) the long-term basis on which the FI Fund is established, | ||
(b) the requirement to preserve the value of the FI Fund capital in so far as possible, | ||
(c) the desirability that the amount of money that is available to be paid from the FI Fund to the Exchequer in each year be of a similar value, and | ||
(d) the requirements placed on the Minister under subsections (3) and (4) of section 11 . |