Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024
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Management of relevant Funds | ||
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28. (1) The Agency shall— | ||
(a) authorise payments from each relevant Fund to the Exchequer, and such other payments from each relevant Fund as may be required for the management of the relevant Fund concerned, | ||
(b) accept payments made into, or assets transferred to, each relevant Fund pursuant to this Act, and | ||
(c) accept payments made into, or assets transferred to, the FI Fund from the Ireland Strategic Investment Fund pursuant to section 47 of the Act of 2014. | ||
(2) The Agency may— | ||
(a) hold the assets of each relevant Fund in any such manner as it considers appropriate (including in bank accounts, in the currency of the State or in another currency, for each relevant Fund opened and maintained by it), | ||
(b) invest the assets of each relevant Fund, in accordance with the investment policy under section 6 or 15 , as the case may be, and the investment strategy under section 7 or 16 , as the case may be, applicable to the relevant Fund concerned, in such manner as it considers appropriate (whether directly or through investment managers), including by doing any of the following: | ||
(i) borrowing or lending securities (including equity and debt instruments); | ||
(ii) entering into contracts or other commitments of any description; | ||
(iii) purchasing any investment products (including options, futures or other derivative financial instruments), | ||
(c) appoint custodians for, or for any portion of, the assets of either or both of the relevant Funds, | ||
(d) for the purpose of holding, facilitating or managing investments of either relevant Fund— | ||
(i) form, cause to be formed or acquire control of companies, or | ||
(ii) enter into joint ventures, partnerships, co-ownerships or other similar arrangements, | ||
(e) enter into transactions of a normal banking nature, | ||
(f) act as an underwriter, lead manager or arranger, or in any other similar capacity (whether alone or with another person on a joint, several or joint and several basis) in relation to the issue of securities of any kind, and | ||
(g) determine an annual budget for the administration costs to be charged to each relevant Fund. | ||
(3) A custodian appointed in relation to either or both of the relevant Funds, or a portion thereof, shall hold the assets in relation to which the custodian has been so appointed in the name of the custodian, or in such other manner as may be agreed with the Agency. |