Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Following the commencement of the Act, the payments from the National Reserve Fund will be transferred to each of the funds. It is envisaged that this would be a quick and swift operation. It is intended that following the transfers from the National Reserve Fund to the two new funds, the fund would be subsequently dissolved. The NTMA would then submit the final set of annual accounts to the Comptroller and Auditor General for approval. Following this, the Minister for Finance will issue the commencement order to repeal the Act of 2019. It will happen quite quickly once we have the Act commenced.