TAILIEUCHUNG - INVESTMENT FUNDS, COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2005

Decentralization, the devolution of authority to local communities and local governments, and partnerships with the private sector can improve the quality of government interventions and also reach the vulnerable and marginalized groups in the population. But there is always a seri- ous risk that the resources of local governments will be captured by spe- cial interest groups. This can negate the objectives of decentralization and community participation and can lead to misuse and misallocation of resources. Checks and balances must be built into the system, with mechanisms of accountability put into place. Social funds should not be considered a newly discovered panacea for all countries at all stages of development | Number 12 of 2005 INVESTMENT FUNDS COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2005 PART 1 Preliminary and General Section 1. Short title collective citation and construction. 2. Commencement. 3. Interpretation generally. 4. Orders and regulations. 5. Expenses. PART 2 Common Contractual Funds 6. Interpretation Part 2 . 7. Non-application of this Part to certain undertakings. 8. Authorisation of non-UCITS common contractual funds. 9. Public information and reporting on authorisation of com- mon contractual funds. 10. Powers of Bank. 11. Refusal of authorisation. 12. Alteration in deed of constitution of or change in name of common contractual fund. 13. Replacement of management company or custodian. 14. Obligation on management companies under common con- tractual funds to purchase units. No. 12. Investment Funds Companies and 2005. Miscellaneous Provisions Act 2005. Section 15. Prohibition of certain transactions and making of certain pro- fits by management companies etc. 16. Assets of common contractual funds. 17. Liability of custodians of common contractual funds. 18. Application of certain provisions of UCITS Regulations. 19. Offences in relation to certain bodies. 20. Offences under provisions of this Part. 21. Penalties. PART 3 Amendments to Part XIII of Act of 1990 22. Amendment of section 252 of Act of 1990. 23. Amendment of section 254 of Act of 1990. 24. Amendment of section 255 of Act of 1990. 25. Segregated liability of sub-funds insertion of new sections in Part XIII of Act of 1990. 26. Amendment of section 257 of Act of 1990. 27. Amendment of section 260 of Act of 1990. 28. Insertion of new section 260A in Act of 1990. PART 4 Market Abuse 29. Interpretation Part 4 . 30. Regulations Part 4 . 31. Repeal of Part V of Act of 1990 and Companies Amendment Act 1999. 32. Conviction on indictment of offences under Irish market abuse law penalties. 33. Civil liability for certain breaches of Irish market abuse law. 34. Supplementary rules etc. by competent .

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