The funding arrangements for Caranua, the Residential Institutions Statutory Fund, are set out in the Residential Institutions Statutory Fund Act 2012. The legislation provides that €110 million in contributions from religious congregations will be provided to Caranua to help meet the needs of persons who, as children, were abused in residential institutions. To date some €96.1 million, comprising contributions and associated interest, have been received from congregations and deposited in the special investment account opened by the National Treasury Management Agency (NTMA) in accordance with section 29 of the 2012 Act. It is expected that the remaining congregational contributions will be received by 2018.