121.153 Investments in institutions doing business in or with Northern Ireland.
121.153 Investments in institutions doing business in or with Northern Ireland.
(1)(a) Notwithstanding any other provision of law, any moneys or assets of the System Trust Fund which shall remain or be invested on and after October 1, 1988, in the stocks, securities, or other obligations of any institution or company doing business in or with Northern Ireland, or with agencies or instrumentalities thereof, shall be invested subject to the provisions of this subsection.
(b) By January 1 of each year, the Board of Administration shall determine the existence of affirmative action taken to eliminate the ethnic or religious discrimination practiced by the government of Northern Ireland, or its agencies, instrumentalities, or national corporations, based on actions taken for:
1. Increasing the representation of individuals from underrepresented religious groups in the workforce, including managerial, supervisory, administrative, clerical, and technical jobs.
2. Providing adequate security for the protection of minority employees both at the workplace and while traveling to and from work.
3. Banning provocative religious or political emblems from the workplace.
4. Publicly advertising all job openings and making special recruitment efforts to attract applicants from underrepresented religious groups.
5. Providing that layoff, recall, and termination procedures should not in practice favor particular religious groupings.
6. Abolishing job reservations, apprenticeship restrictions, and differential employment criteria, which discriminate on the basis of religion or ethnic origin.
7. Developing training programs that will prepare substantial numbers of current minority employees for skilled jobs, including the expansion of existing programs and the creation of new programs to train, upgrade, and improve the skills of minority employees.
8. Establishing procedures to assess, identify, and actively recruit minority employees with potential for further advancement.
9. Appointing senior management staff members to oversee affirmative action efforts and setting up timetables to carry out affirmative action principles.
(c) Consistent with sound investment policy, the Board of Administration shall invest the assets of the System Trust Fund in such a manner that the investments in institutions doing business in or with Northern Ireland shall reflect the advances made by such institutions in eliminating discrimination as established pursuant to paragraph (b).
(2)(a) Notwithstanding any other provision of law, and consistent with the investment policy set forth in ss. 215.44(2) and 215.47(10), the moneys or assets of the System Trust Fund invested or deposited in any financial institution, as defined in s. 655.005, which, directly or through a subsidiary, on or after October 1, 1988, makes any loan, extends credit of any kind or character, or advances funds in any manner to Northern Ireland or national corporations of Northern Ireland or agencies or instrumentalities thereof shall reflect the extent to which such entities have endeavored to eliminate ethnic or religious discrimination as determined pursuant to paragraph (1)(b).
(b) In determining the extent to which a financial institution shall receive any such funds, the Board of Administration shall require the institution to annually report any loan, extension of credit of any kind or character, or advance of funds in any manner to Northern Ireland or national corporations of Northern Ireland or agencies or instrumentalities thereof, either by the institution directly or through a subsidiary. In addition, prior to making any deposit therewith, the Board of Administration shall require a representative of the financial institution either to certify that the most recent annual report is then accurate and correct, or if such report is inaccurate or incorrect based upon activities since such report was filed, to provide the information that should be changed or altered to reflect the then-current status of any loans, extensions, or advances.
History. s. 1, ch. 88-406; s. 29, ch. 89-229; s. 8, ch. 2009-21.