Alice-Mary Higgins (Independent) | Oireachtas source

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.”.