S.I. No. 76/1971 - Córas Iompair Éireann, Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme (Amendment) Scheme, 1968 (Confirmation) Order, 1971


WHEREAS by section 6 of the Great Southern Railways Company (Superannuation Scheme) Act, 1947 (No. 21 of 1947), the Córas Iompair Éireann, Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme (in these Recitals referred to as the Scheme) (a copy whereof is set out in the Schedule to that Act) was confirmed and given the force of law:

AND WHEREAS Córas Iompair Éireann (in these Recitals referred to as the Board) has, in pursuance of Rule 54 (1) of the Scheme and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. No. 125 of 1959 ), submitted to the Minister for Transport and Power a scheme (in these Recitals referred to as the amending Scheme) amending the Scheme:

AND WHEREAS the amending scheme was, under Rule 54 (2) of the Scheme referred back to the Board by the said Minister for re–consideration and re–submission:

AND WHEREAS the amending scheme was re–considered and re–submitted to the said Minister by the Board:

AND WHEREAS the said Minister, having heard all parties desirous of being heard and appearing to him to be interested in the amending scheme, proposes to confirm the amending scheme as re–considered and re-submitted to him by the Board:

NOW, I, BRIAN LENIHAN, Minister for Transport and Power, in exercise of the powers conferred on me by Rule 54 (2) of the Córas Iompair Éireann, Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme, and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. No. 125 of 1959 ), and by virtue of the operation of section 45 of the Transport Act, 1950 (No. 12 of 1950), hereby order as follows:

1. This Order may be cited as the Córas Iompair Éireann, Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme (Amendment) Scheme, 1968 (Confirmation) Order, 1971.

2. The Scheme (amending the Córas Iompair Éireann, Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme) submitted by Córas Iompair Éireann under Rule 54 (1) of the said Córas Iompair Éireann, Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme, as modified by the Minister for Transport and Power (a copy whereof, as so modified, is set out in the Schedule to this Order), is hereby confirmed, and shall come into operation on the 1st day of January, 1971.

SCHEDULE.

CÓRAS IOMPAIR ÉIREANN SALARIED OFFICERS' AND CLERKS' (G.S.R.) SUPERANNUATION SCHEME (AMENDMENT) SCHEME, 1968.

1. Interpretation:

In this amending Scheme the following words and expressions shall have the meanings hereby assigned to them unless there is something inconsistent in the subject matter or the context repugnant to such construction:—

"The existing Scheme" means the Córas Iompair Éireann Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme as scheduled to the Great Southern Railways Company (Superannuation Scheme) Act, 1947 (No, 21 of 1947) as amended by the Córas Iompair Éireann Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme (Amendment) Scheme, 1962 (Confirmation) Order, 1963.

"This Scheme" means the existing Scheme as hereby amended.

2. In this amending Scheme, unless otherwise expressly stated, references to numbered rules are references to the rules so numbered of the existing Scheme.

3. Paragraph (2) of Rule 7 of Córas Iompair Éireann Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme as set out in the Schedule to the Great Southern Railways Company (Superannuation Scheme) Act, 1947 , (No. 21 of 1947) shall be revoked and the following new paragraph (2) substituted therefor:—

"All moneys in the hands of the trustees belonging to the Fund and not required for the immediate purposes of this Scheme may be lent to the Board re–payable on demand at an agreed rate of interest, or may be invested as the Board shall, after consultation with the Committee, think proper in any investments for the time being authorised by law as investments for trust moneys, or in any other investments for the time being approved of, for the purpose of this scheme, by the Minister for Finance."

4. The following new rule shall be added to the existing Scheme and inserted after Rule 10:—

"10A. Members employed by Óstlanna Iompair Éireann.

When a person to whom section 15 of the Transport Act, 1963 applies remains a member of this Scheme, the following provisions shall apply from the date when such person enters the employment of Óstlanna Iompair Éireann:—

(a)In the application of the provisions of this Scheme to such a member the words "the Board" or "the Company" where they appear in Rules II (3), 22A and 24 shall be read to mean "Óstlanna Iompair Éireann".

(b)Rule 10 (6) of this Scheme shall not apply to any such member.

(c)A member who becomes a superannuated member or who leaves the employment of Óstlanna Iompair Éireann shall cease to be a member of this Scheme unless his employment with Óstlanna Iompair Éireann has been terminated to enable him to return to the employment of the Board and upon such termination he forthwith returns to the employment of the Board in which event the provisions of this rule shall cease to apply to that member.

(d)All notices which the provisions of this Scheme require to be exhibited in all departments of the Company shall also be exhibited in all premises of Óstlanna Iompair Éireann on which a member to whom this rule applies is employed.

(e)In every year Óstlanna Iompair Éireann shall contribute to the Fund such amount as the Board on the advice of the Actuary shall direct having regard to the liability of the Fund.".

5. Rule 23 shall be amended by the insertion after the words "if the member had retired from the service" in sub–paragraph (13) (i) of the words "in consequence of incapacity".

GIVEN under my Official Seal, this 25th day of February, 1971.

BRIAN LENIHAN,

Minister for Transport and Power.

EXPLANATORY NOTE.

The purpose of the Order is to confirm an amending superannuation scheme giving the Trustees wider powers of investment in respect of moneys belonging to the Fund of the Scheme and to cover the case of members transferred to the service of Óstlanna Iompair Éireann.