The Carbon Fund Act 2007 establishes that the Minister shall, with the consent of the Minister for Finance, establish a fund to be known as and in this Act referred to as the Carbon Fund for the purpose, subject to subsection (8), of acquiring on behalf of the State, including on foot of existing or future agreements to which the State is or becomes bound, Kyoto Units and any other such instruments or assets in accordance with the provisions of the Convention and the Kyoto Protocol, and for any purpose associated with or incidental to the fulfilment of that function. The management of the Carbon Fund is delegated to the National Treasury Management Agency (the Agency). Moneys standing to the credit of the Carbon Fund shall not be used for any purposes other than those specified in this Act. The Act then disciplines the way in which the Agency must keep accounts, reports and information to be provided to Minister, accountability of the Agency, among others.
Ireland · 2007-04-07