S.I. No. 329/1990 - Pensions Act, 1990 (Sections 60 and 61) (Commencement) Order, 1990.

S.I. No. 329 of 1990.

PENSIONS ACT, 1990 (SECTIONS 60 AND 61) (COMMENCEMENT) ORDER, 1990.

The Minister for Social Welfare, in exercise of the powers conferred on him by section 1 (2) of the Pensions Act, 1990 (No. 25 of 1990), hereby orders as follows:—

1. This Order may be cited as the Pensions Act, 1990 (Sections 60 and 61) (Commencement) Order, 1990.

2. Sections 60 and 61 of the Pensions Act, 1990 shall come into operation on the 1st day of January, 1991.

GIVEN under the Official Seal of the Minister for Social Welfare

this 21st day of December, 1990.

MICHAEL WOODS,

Minister for Social Welfare.

EXPLANATORY NOTE.

This Order brings into effect from 1 January 1991 the provisions of Sections 60 and 61 of the Pensions Act, 1990 .

Section 60 requires trustees of occupational pension schemes to register the scheme with the Pensions Board within—

( a ) 12 months in the case of schemes which commenced before 1 January 1991;

( b ) in any other case 12 months after the scheme commences.

Section 61 provides for the repeal of certain sections of the Perpetual Funds (Registration) Act, 1933 insofar as they apply to occupational pension schemes.