Dáil Éireann Debate, Tuesday - 9 July 2024
834. Deputy Mairéad Farrell asked the Minister for Further and Higher Education, Research, Innovation and Science if he will identify the types of assets and asset classes, that the national training fund surplus is permitted to invest in; and if he will make a statement on the matter. [29929/24]
View answerSection 2 of the National Training Fund Act, 2000 provides for the Fund to consist of a current account and an investment account, with the Minister for Public Expenditure NDP Delivery and Reform having responsibility for the management and control of the investment account. Subsection 2(9) provides that investments can take the form of
(a) the application of moneys in the investment account towards the acquisition, holding or disposal of any rights or interests, direct or indirect, in any securities other than shares, or
(b) the placing of them in deposit accounts in any financial institution or the investment of them in short term financial products, such as certificates of deposit or commercial paper, issued by any person, in the currency of the State in or outside of the State.
As noted in the NTF Accounts, the surplus in the NTF is held in Exchequer Notes with the National Treasury Management Agency.
