Question 1

What does the National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2020 do?

Accepted Answer

Redirects petroleum product levy funds to new Climate Action Fund for climate and renewable energy projects, after NORA's operating expenses are covered. Fixes petroleum levy at €0.02 per litre and biofuel levy at €0.001 per litre by law; removes Minister's power to adjust rates by regulation. Designates NORA and Irish Water as bodies eligible for central treasury services from National Treasury Management Agency, replacing commercial bank arrangements.

Question 2

What stage is the National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2020 at?

Accepted Answer

As of 30 Jul 2020, the National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2020 is at Enacted. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2020?

Accepted Answer

The National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2020 was sponsored by Minister for Communications, Climate Action and Environment, and was introduced on 19 Jun 2020.

National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2020

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