Automatic Enrolment Retirement Savings System Act 2024
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Statement of strategy | ||
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37. (1) The Board shall— | ||
(a) not later than 6 months after the commencement of this section, prepare and submit to the Minister a statement of strategy in respect of the period of 3 years immediately following the year in which the statement of strategy is so submitted, and | ||
(b) not later than 3 months before the expiry of the period of 3 years to which the statement of strategy for the time being in effect applies, prepare and submit to the Minister a statement of strategy in respect of the period of 3 years immediately following the year in which the first-mentioned statement of strategy expires. | ||
(2) The Board shall, before preparing and submitting a statement of strategy in accordance with subsection (1), seek and obtain the advice of the chief executive in relation thereto. | ||
(3) The Board shall, in the preparation of a statement of strategy, have regard to the need to ensure the most effective and efficient use of the resources available to the Authority. | ||
(4) A statement of strategy shall— | ||
(a) except in the case of the statement of strategy first prepared, submitted and approved under this section, contain a review of the implementation of the immediately preceding statement of strategy, | ||
(b) include the objectives, intended outputs and related strategies (including use of resources) of the Authority, | ||
(c) specify the manner in which the Board proposes to assess the effectiveness of the implementation of the statement of strategy, | ||
(d) include a statement setting out the approach taken to give effect to section 9 (2), | ||
(e) include any other matters that the Minister may from time to time direct, and | ||
(f) be prepared in a form and manner that is in accordance with any directions issued from time to time by the Minister. | ||
(5) The Minister shall, as soon as is practicable after a statement of strategy has been submitted to him or her under subsection (1) or resubmitted pursuant to a direction under paragraph (c)— | ||
(a) approve the statement of strategy, | ||
(b) approve the statement of strategy subject to such modifications as he or she may specify, or | ||
(c) refuse to approve the statement of strategy and require the Board, by direction in writing, to prepare and submit to the Minister a revised statement of strategy. | ||
(6) The Board shall comply with a direction under this section by such date as may be specified in the direction. | ||
(7) The Authority shall not implement a statement of strategy unless it has been approved by the Minister in accordance with paragraph (a) or (b) of subsection (5). | ||
(8) The Minister shall, as soon as is practicable after having approved a statement of strategy in accordance with paragraph (a) or (b) of subsection (5), cause a copy of that statement to be laid before each House of the Oireachtas. | ||
(9) The Board shall, as soon as is practicable after the approval of a statement of strategy in accordance with paragraph (a) or (b) of subsection (5), cause that statement to be published on a website maintained by or on behalf of the Authority and, where the Board considers it appropriate, in such other manner as it shall determine. |