Law of 8 December 1988, repealing the Investment Act

We Beatrix, at the grace of God, Queen of the Netherlands, Princess of Orange-Nassau, etc. etc. etc.

All of them, who will see or hear these, saluut! do know:

In this regard, we have taken the view that it is desirable to repeal the Investment Act and to regulate its effects on the investments of the Invalidity And Old-age Fund and the Ageing Fund (b);

In this way, we, the Council of State, and with the mean consultations of the States-General, have been well-regarded and understood to be right and to be understood by the following:

Article 1

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• 1 The Investment Act ( Stb. 1939, 400) is hereby repealed.

• 2 The Central Investment Board shall be dissolved.

Article 2

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The Social Insurance Bank shall be responsible for the investment of the funds and the realisation of the investments of the Invalidity And Old-age Fund referred to in the Invalidity Act ( Stb. 1913, 205), and the Old Age Fund (b), referred to in the Old Age Act 1919 ( Stb. 1919, 628).

Article 3

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• 1 The investment of the funds and the realisation of the investments of the Invalidity And Old-age fund or the Old-age Fund (s) shall be made only in the interests of the Fund and subject to generally accepted Business economy requirements in the field of investment such as profitability, liquidity, solvency, risk-sharing and alignment of the liabilities of the fund.

• 2 Our Minister of Social Affairs and Employment states, in agreement with our Minister of Finance, detailed rules on the investment of funds and the realisation of the investments of the funds referred to in paragraph 1, to the extent necessary in relation to the requirements set out in paragraph 1, as well as for the monitoring of investments.

Article 4

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Archiving documents held under the Central Investment Board shall be transferred to the general public archives store, subject to the limitation that the archive documents which are less than 30 years of age are not publicly available.

Article 5

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Article 6

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This Law shall enter into force on a date to be determined by Royal Decree.

Burdens and orders that are in the State Sheet will be placed, and that all ministries, authorities, colleges and officials who so concern will keep their hands on the precise execution.

Issued in Gravenhage, 8 December 1988

Beatrix

The Minister of Finance,

H. O. C. R. Ruding

The Minister for Social Affairs and Employment,

J. the King

Published on the 20th December 1988

The Minister of Justice,

F. Korthals Altes