Microenterprise Loan Fund Act 2012
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Investment of moneys standing to credit of Fund. |
6.— (1) Moneys standing to the credit of the Fund that are not, for the time being, required for the purpose of lending money to microenterprises in accordance with section 7 or the making of payments in accordance with section 19 may be invested by the subsidiary— | |
(a) in such securities (other than shares in a company) as it considers appropriate, or | ||
(b) by deposit of the moneys in a credit institution, | ||
in the currency of the State. | ||
(2) The subsidiary may, from time to time and at its discretion, vary or sell any investments made under subsection (1). | ||
(3) Moneys standing to the credit of the Fund shall not be used for any purpose other than the purposes of this Act. | ||
(4) In this section “credit institution” has the same meaning as it has in the Central Bank and Credit Institutions (Resolution) Act 2011 . |