asked the Minister for Industry and Commerce if he will give further details of the scheme to introduce unit trusts in an effort to develop the home market.
Ceisteanna — Questions. Oral Answers. - Unit Trusts.
41.
The promotion of unit trusts is not a matter for me. I propose, however, to introduce a Bill in the near future providing for the registration, in the public interest, of unit trusts engaging in business in this country. It will be necessary for the managers and trustees of such unit trusts to be incorporated in the State and have a place of business in the State. The Bill will also provide that I will have power to make orders imposing requirements on unit trusts which will safeguard the interests of investors and also ensure that a minimum proportion of the funds will be invested in this country.