The Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 has been signed into law.
The measures contained in the Act follow on the proposed recapitalisation terms to be offered to Allied Irish Bank and Bank of Ireland. The main provisions of the Act amend the National Pensions Reserve Fund Act 2000 to enable investments in the public interest to be made in listed credit institutions. The Act also contains amendments to the Taxes Consolidation Act 1997 in relation to the taxation of such investments.
The Act includes amendments to the Markets in Financial Instruments and Miscellaneous Provisions Act 2007 to provide for greater transparency in relation to trading in financial instruments. The amendments will enable the Minister to make Regulations requiring those who have entered into transactions in financial instruments to disclose certain information relating to those transactions to the Financial Regulator or to the market or to both. The Act also contains amendments to the Securitisation (Proceeds of Certain Mortgages) Act 1995.