Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009

Public bill · Government · Presented

Allows the Minister for Finance, in a serious economic or financial crisis, to direct the National Pensions Reserve Fund to invest in or support listed banks, including by underwriting new shares, and to manage those investments. It also permits the Fund to use investment companies, provides related tax treatment and exemptions from certain takeover and competition rules, and gives the Minister powers over transferred assets. Separately, it supports the winding-up of a mortgage securitisation body and allows new rules requiring greater disclosure of financial trading.

Formal long title

Bill entitled an Act to amend the National Pensions Reserve Fund Act 2000 in relation to certain investments in the public interest; to amend the Taxes Consolidation Act 1997 in relation to the taxation of such investments; to amend the Securitisation (Proceeds of Certain Mortgages) Act 1995 to facilitate the winding-up of a body established under that Act; to amend the Markets in Financial Instruments and Miscellaneous Provisions Act 2007 to provide for greater transparency in relation to certain kinds of trading in financial instruments; and to provide for connected matters

Last updated 12 April 2018