MINERALS INCOME INVESTMENT FUND (AMENDMENT) ACT, 2025 (ACT 1137)

The Minerals Income Investment Fund Act, 2018 (Act 978), referred to in this Act as the “principal enactment”, is amended in section 4 by the substitution for subsection (1), of “(1) For the purposes of achieving the objects of the Fund, the Fund shall (a) manage, deal in and invest minerals income accruing to the Republic received by the Fund; (b) seek the best possible financial returns on investments, having regard to internationally recognised best practices for (i) asset allocation and risk management; (ii) protecting the long-term economic value of the Fund and the assets of the Fund; and (iii) the cost of capital of the Fund and other incidental costs related to the Fund; (c) manage other assets entrusted to the Fund or acquired by the Fund; (d) enter into transactions and contracts on an arm’s length basis; and (e) engage in any other activity determined by the Board, in consultation with the Minister.”

The principal enactment is amended in section 27 by the substitution for paragraph (a), of “(a) two per cent of minerals income;”.