(1) Subject to subsections (2) and (3), the Minister may, in 2025 or any year thereafter, make a proposal to the Government that a specified amount of not greater than 25 per cent of the net asset value of the ICN Fund as it stood on 31 December of the year prior to the making of the proposal be paid from the ICN Fund to the Exchequer, for the purpose specified in section 14(2)(a), in the year subsequent to the making of the proposal.

(2) The Minister shall not make a proposal under subsection (1) in any of the years 2025 to 2029 unless -

(a) Dáil Éireann has passed a resolution under section 18(2) in that year, and

(b) having carried out an assessment in accordance with section 26(1), he or she is of the opinion that the deterioration, or likely deterioration, in the economic or fiscal position of the State is of such significance that it would be appropriate to make a payment, for the purpose specified in section 14(2)(a), from the ICN Fund to the Exchequer in the subsequent year.

(3) The Minister shall not make a proposal under subsection (1) in 2030 or in any year thereafter unless, having carried out an assessment in accordance with section 26(1), he or she is of the opinion -