IE-2018-act-40 — Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Act 2018

PART 1 Preliminary and General Short title 1. This Act may be cited as the Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Act 2018. Definitions 2. In this Act— “Bank” means the African Development Bank established by the Bank Agreement; “Bank Agreement” means— (a) the Agreement Establishing the African Development Bank, the text of which, for ease of reference, is set out in Schedule 1 , and (b) any amendments to that Agreement that are approved by Dáil Éireann pursuant to Article 29.5.2° of the Constitution; “Fund” means the African Development Fund established by the Fund Agreement; “Fund Agreement” means— (a) the Agreement Establishing the African Development Fund, the text of which, for ease of reference, is set out in Schedule 2 , and (b) any amendments to that Agreement that are approved by Dáil Éireann pursuant to Article 29.5.2° of the Constitution; “Minister” means the Minister for Finance. PART 2 African Development Bank Approval of terms of Bank Agreement 3. (1) The terms of the Bank Agreement are hereby approved. (2) Where Dáil Éireann has approved, pursuant to Article 29.5.2° of the Constitution, an amendment to the Bank Agreement, the Minister shall, as soon as may be thereafter, cause notice of such approval to be published in Iris Oifigiúil . Financial and other provisions: Bank 4. (1) Payments under the Bank Agreement in respect of subscription to the Bank, as and when such payments become appropriate to be made on behalf of the State, shall be made out of the Central Fund or the growing produce thereof. (2) Any moneys received on behalf of the State from the Bank shall be placed to the credit of the account of the Exchequer and shall— (a) form part of the Central Fund, and (b) be available in any manner in which the Central Fund is available. (3) The Central Bank of Ireland shall act as a depository for the holdings in euro and other assets of the Bank. (4) This section shall come into operation on the day on which the State becomes a member of the Bank in accordance with the terms of the Bank Agreement. PART 3 African Development Fund Approval of terms of Fund Agreement 5. (1) The terms of the Fund Agreement are hereby approved. (2) Where Dáil Éireann has approved, pursuant to Article 29.5.2° of the Constitution, an amendment to the Fund Agreement, the Minister shall, as soon as may be thereafter, cause notice of such approval to be published in Iris Oifigiúil . Financial and other provisions: Fund 6. (1) Payments under the Fund Agreement in respect of subscription to the Fund, as and when such payments become appropriate to be made on behalf of the State, shall be made out of the Central Fund or the growing produce thereof. (2) Any moneys received on behalf of the State from the Fund shall be placed to the credit of the account of the Exchequer and shall— (a) form part of the Central Fund, and (b) be available in any manner in which the Central Fund is available. (3) The Central Bank of Ireland shall act as a depository for the holdings in euro and other assets of the Fund. (4) This section shall come into operation on the day on which the State becomes a member of the Fund in accordance with the terms of the Fund Agreement. PART 4 Miscellaneous amendments Amendment of International Finance Corporation Act 1958 7. The International Finance Corporation Act 1958 is amended— (a) in section 1, in the definition of ‘the Agreement’, by inserting “, and any amendments to the agreement that are approved by Dáil Éireann pursuant to Article 29.5.2° of the Constitution” after “in the Schedule to this Act”, and (b) in section 2— (i) by designating that section as subsection (1), and (ii) by inserting after subsection (1) the following subsection: “(2) Where Dáil Éireann has approved, pursuant to Article 29.5.2° of the Constitution, an amendment to the Agreement, the Minister for Finance shall, as soon as may be thereafter, cause notice of such approval to be published in Iris Oifigiúil .”. Amendment of section 851A of Taxes Consolidation Act 1997 8. Section 851A of the Taxes Consolidation Act 1997 (No. 39 of 1997) is amended by inserting after subsection (9) the following subsection: “(9A)Nothing in this section shall prevent the due disclosure in the course of duties of taxpayer information by an official of the Department of Finance to the Information Commissioner where the disclosure is required pursuant to the Freedom of Information Act 2014 .”.