The National Treasury Management Agency (Amendment) Act 2014 is amended -
(a) in section 49 -
(i) in paragraph (f), by deleting the second instance of the word “and”,
(ii) in paragraph (g), by substituting “Fund, and” for the word “Fund.”, and
(iii) by inserting the following paragraph after paragraph (g):
“(h) measures taken in accordance with section 49A, as inserted by the Fossil Fuel Divestment Act 2018.”,
and
(b) by inserting the following new section after section 49 -
“49A. Investment in Fossil Fuel Undertakings
(1) In this section -
‘fellow subsidiary undertakings’, ‘higher holding undertaking’, ‘holding undertaking’, ‘subsidiary undertaking’ and ‘undertaking’ have the respective meanings given to them by the Companies Act 2014;
‘fossil fuel’ means coal, oil, natural gas, peat or any derivative thereof intended for use in the production of energy by combustion;
‘fossil fuel undertaking’ means an undertaking which is -
(a) engaged,
…