Social Welfare Consolidation Act 2005 section 11

Payments from fund for acquisition of land, etc

Section 11 governs how the Social Insurance Fund can be used to acquire physical assets and what happens when those assets are sold.

• The Minister may use the Fund to purchase land, premises, furniture or equipment, or to construct or renovate buildings, with all such assets held on behalf of the Fund.
• Any acquisition or construction expenditure requires the prior consent of the Minister for Public Expenditure and Reform.
• The Minister may dispose of any assets acquired or constructed under these provisions, with the sale proceeds returned to the Fund.
• Any disposal of assets likewise requires the consent of the Minister for Public Expenditure and Reform.