ISB SI

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

29

th January

, 2013.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by

section 18

(2B) of the

National Pensions Reserve Fund Act 2000

(inserted by

section 76

of the

Credit Institutions (Stabilisation) Act 2010

) hereby order that

(i) no sum shall be paid into the National Pensions Reserve Fund in the year 2012 and

(ii) no sum shall be paid into the National Pensions Reserve Fund in the year 2013.

Given under my official seal

21 December 2012.

MICHAEL NOONAN,

Minister for Finance.

EXPLANATORY NOTE

(This note is not part of the instrument and does not purport to be a legal interpretation)

Section 18

of the

National Pensions Reserve Fund Act 2000

requires the payment of a contribution equivalent to 1% of GNP from the Exchequer to the National Pensions Reserve Fund each year.

Section 18

(2B), which was inserted by the

Credit Institutions (Stabilisation) Act 2010

, empowers the Minister for Finance to suspend the payment of the annual contribution, or part of the contribution, in 2012 and 2013. The suspension of the contribution was factored into the Budgets for 2012 and 2013 and this Order formally implements that suspension.