S.I. No. 318/1995 - Great Southern Railways Company Pension Scheme For Regular Wages Staff (Amendment) Scheme (Confirmation) Order, 1995.

S.I. No. 318 of 1995.

GREAT SOUTHERN RAILWAYS COMPANY PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) SCHEME (CONFIRMATION) ORDER, 1995.

I, MICHAEL LOWRY, Minister for Transport, Energy and Communications, in exercise of the powers conferred on me by section 44 of the Transport Act, 1950 (No. 12 of 1950), and amended by the Tourism, Transport and Communications (Alteration of Name of Department and Title of Minister) Order, 1993 ( S.I. No. 17 of 1993 ), hereby, after consultation with the Minister for Finance, order as follows:

1. This Order may be cited as the Great Southern Railways Company Pension Scheme for Regular Wages Staff (Amendment) Scheme (Confirmation) Order, 1995.

2. In this Order, "the amending scheme" means the scheme amending the Great Southern Railways Company Pension Scheme for Regular Wages Staff prepared by Córas Iompair Éireann and duly submitted to the Minister for Transport, Energy and Communications, as set out in the Schedule to this Order.

3. The amending scheme is hereby confirmed and shall be deemed to have come into operation on the 1st day of January, 1994.

SCHEDULE.

GREAT SOUTHERN RAILWAYS COMPANY PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) SCHEME, 1995.

1. Definitions.

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

"the existing Scheme" means the Great Southern Railways Company Pension Scheme for Regular Wages Staff as confirmed by the Transport Act, 1944 (Section 45) Order, 1945 ( S.R. & O. No. 55 of 1945 ), and as amended by an amending scheme confirmed by the Minister for Industry and Commerce on the 31st day of October, 1957 and subsequently further amended by amending schemes confirmed by statutory instruments numbered 57 of 1961, 49 of 1965, 8 of 1967, 59 of 1969, 78 of 1971, 250 of 1974, 289 of 1977, 75 of 1980, 182 of 1982, 289 of 1985, 320 of 1985,56 of 1987, 196 of 1988, 259 of 1988 and 121 of 1992;

"the regular wages staff scheme" means the Córas Iompair Éireann Pension Scheme for Regular Wages Staff confirmed by S.R. & O. No. 242 of 1945 and subsequently amended by amending schemes confirmed by statutory instruments numbered 115 of 1949, 34 of 1955, 226 of 1957, 56 of 1961, 48 of 1965, 7 of 1967, 58 of 1969, 77 of 1971, 252 of 1974, 288 of 1977, 74 of 1980, 181 of 1982, 132 of 1985, 288 of 1985, 319 of 1985, 55 of 1987, 117 of 1988, 258 of 1988, 31 of 1989, 233 of 1991, 120 of 1992 and 420 of 1992;

"the operative date" means the 1st day of January, 1994.

2. In this amending scheme unless otherwise expressly. stated the words and expressions used shall have meanings assigned to them by the existing Scheme.

3. Amendment of the existing Scheme.

The existing scheme shall be amended with effect on and from the operative date so as to conform to the provisions hereinafter contained and every provision of the existing scheme which is inconsistent with the provisions hereinafter contained shall cease to have effect.

4. In consequence of and immediately following the assumption by the regular wages staff scheme of all liabilities of the existing scheme, with effect from the operative date all assets of the scheme shall be transferred to the regular wages staff scheme and no further contributions shall be made to and no further entitlements shall arise under the existing scheme.

GIVEN under my Official Seal, this 29th day of November, 1995.

MICHAEL LOWRY,

Minister for Transport, Energy and

Communications.

EXPLANATORY NOTE.

The purpose of the Scheme is to provide for the assumption of all liabilities and the transfer of assets of the Great Southern Railways Company Pension Scheme for Regular Wages Staff to the C.I.E. Pension Scheme for Regular Wages Staff.