Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Report and Final Stages
Seanad Éireann — 2024-06-12
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Alice-Mary Higgins (IND), National University of Ireland

I move amendment No. 10:
In page 23, between lines 35 and 36, to insert the following:
“Prohibition on investment in undertakings operating without a legal basis
32. (1) (a) Assets of a relevant Fund shall not be invested in undertakings carrying out business in a territory where there is not a legal basis to do so.
(b) Where the Agency becomes aware that an undertaking in which the assets of a relevant Fund are directly or indirectly invested is, or becomes, an undertaking referred to in paragraph (a) , the Agency shall divest the assets of the relevant Fund from such investment as soon as practicable.
(c) For the avoidance of doubt, a territory referred to in paragraph (a) shall be construed to mean an occupied territory.
(2) In this section, “occupied territory” means a territory which is occupied within the meaning of the Fourth Geneva Convention, and which has been—
(a) confirmed as such in a decision or advisory opinion of the International Court of Justice,
(b) confirmed as such in a decision of the International Criminal Court,
(c) confirmed as such in a decision of an international tribunal, or
(d) designated as such for the purposes of this Act or any other enactment in a regulation made by the Minister.”.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2024-06-12/debate/main
Retrieved: 2026-08-14T04:53:03+00:00
Sitting date: 2024-06-12