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39 2000

NATIONAL TREASURY MANAGEMENT AGENCY (AMENDMENT) ACT, 2000

PART 3

Central Treasury Services

Definitions.

18. —In this Part—

“advance” means an advance of moneys by the Minister to a designated body under this Part;

“central treasury services” means—

(a) the taking of deposits, or

(b) the making of advances,

or both on such terms and conditions (including terms and conditions relating to the payment of interest) as may be agreed from time to time by the Minister and the designated body concerned;

“deposit” means a deposit of moneys by a designated body with the Minister under this Part;

“designated body” means—

(a) a local authority within the meaning of section 1 of the Local Government Act, 1998 ,

(b) a vocational education committee established by section 7 of the Vocational Education Act, 1930 ,

(c) a health board established under section 4 of the Health Act, 1970 ,

(d) the General Medical Services (Payments) Board,

(e) the Eastern Regional Health Authority,

(f) a non-commercial State body designated by the Minister under section 19 ,

and designated bodies shall be construed accordingly;

“non-commercial State body” means a body—

(a) in relation to which a function or functions (other than functions relating to its finances) stand conferred on the Government or a Minister of the Government, and

(b) which is, or will be, in the opinion of the Minister taking one year with another in receipt of moneys provided by the Oireachtas or an institution of the European Communities in respect of not less than 50 per cent. of its non-capital expenditure.

Designation of bodies.

19. —(1) The Minister may by order, with the approval of the relevant Minister of the Government, designate a non-commercial State body for the purposes of this Part.

(2) In this section “relevant Minister of the Government”, in relation to a non-commercial State body, means the Minister of the Government whose approval to the making of an order under this section in relation to the body should, having regard to his or her functions in relation to the body, in the opinion of the Minister, be obtained.

Provision of central treasury services.

20. —(1) The Minister shall provide central treasury services to a designated body if such a body, at its discretion, wishes to avail of such services.

(2) This Part shall not be construed as affecting or altering any limit on the amount that a designated body may borrow or any other provision contained in an enactment in relation to its power to borrow money.

(3) In this section “enactment” means a statute or an instrument made under a power conferred by a statute.

Advance of moneys to Post Office Savings Bank Fund by Minister.

21. —(1) The Minister may advance moneys from the Central Fund or the growing produce thereof to the Post Office Savings Bank Fund on such terms and conditions as he or she thinks fit for the purposes of section 22 .

(2) The Minister may by order delegate to the Agency the function conferred on him or her by subsection (1).

(3) An order under subsection (2) may contain such ancillary and incidental provisions as the Minister considers necessary or expedient for the purposes of the delegation effected by the order including a provision specifying the maximum amount of moneys which may be advanced from the Central Fund or the growing produce thereof to the Post Office Savings Bank Fund for the purpose of providing central treasury services.

(4) If the function conferred on the Minister by subsection (1) stands delegated to the Agency by virtue of an order under subsection (2), the Minister may give directions or guidelines to the Agency in relation to the performance by it of that function, and the Agency shall comply with any such directions and perform that function in accordance with any such guidelines.

Use of Post Office Savings Bank Fund for provision of central treasury services.

22. —(1) The Minister may, for the purposes of providing central treasury services, make payments to and from the Post Office Savings Bank Fund.

(2) If the function conferred on the Minister by section 20 (1) stands delegated to the Agency by virtue of an order under section 23 , the power of the Minister under subsection (1) may be exercised by the Agency.

Delegation to Agency of function of providing central treasury services.

23. —(1) The Minister may by order delegate to the Agency the function conferred on him or her by section 20 (1).

(2) An order under subsection (1) may contain such ancillary and incidental provisions as the Minister considers necessary or expedient for the purposes of the delegation effected by the order.

Non-application of section 7(1) of Central Bank Act, 1971.

24. —Subsection (1) (inserted by section 70(a) of the Central Bank Act, 1997 ) of section 7 of the Central Bank Act, 1971 , shall not apply to—

(a) the Minister, or

(b) the Agency, if the function conferred on the Minister by section 20 (1) stands delegated to the Agency by virtue of an order under section 23 ,

in respect of the provision of central treasury services.

Directions and guidelines to Agency for purposes of Part 3.

25. —If the function conferred on the Minister by section 20 (1) stands delegated to the Agency by virtue of an order under section 23 , the Minister may give directions or guidelines to the Agency in relation to the performance by it of that function or the exercise by it of the power conferred by section 22 or both, and the Agency shall comply with any such directions and perform that function or exercise that power, as the case may be, in accordance with any such guidelines.

Amendment of section 48 of Vocational Education Act, 1930.

26. Section 48 of the Vocational Education Act, 1930 , is amended—

(a) in subsection (5), by the substitution of “Subject to subsection (7) of this section, a vocational education committee” for “A vocational education committee”, and

(b) by the insertion of the following subsection after subsection (6):

“(7) (a) A vocational education committee may, in relation to moneys from time to time standing to the credit of such committee in the vocational education fund maintained by it, do either or both of the following—

(i) make a deposit within the meaning of Part 3 of the National Treasury Management Agency (Amendment) Act, 2000, on such terms and conditions (including terms and conditions relating to the payment of interest) as it may agree with the Minister for Finance or with the National Treasury Management Agency, if the function conferred on the Minister for Finance by section 20 (1) of that Act stands delegated to that Agency by virtue of an order under section 23 of that Act,

(ii) deposit such moneys with any credit institution authorised and supervised by the competent authority of a Member State of the European Communities on such terms and conditions (including terms and conditions relating to the payment of interest) as it may agree with such an institution.

(b) In this subsection, ‘credit institution’ and ‘competent authority’ have the same meanings as they have in the European Communities (Licensing and Supervision of Credit Institutions) Regulations, 1992 (S.I. No. 395 of 1992).”.