Seanad debates
Tuesday, 17 December 2002
National Development Finance Agency Bill, 2002: Second Stage.
Section 3 sets out the functions of the agency which are to advise State authorities on the optimal means of financing major public investment projects in order to achieve value for money; to advance money and enter into other financial arrangements regarding projects approved by any State authority; to provide advice to State authorities on all aspects of the financing, including refinancing and insurance, of public investment projects; and to form companies, subject to section 5 of the Act, for the purpose of securing finance for public investment projects. It also provides that the agency will have any other powers necessary for the performance of its functions, including the power to engage consultants, advisers or other service providers. When carrying out its functions, the agency must comply with any guidelines or instructions the Minister for Finance may issue to it.
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