S.I. No. 591/2005 - Social Welfare and Pensions Act 2005 (Part 3) (Commencement) Order 2005


S.I. No. 591 of 2005 .

SOCIAL WELFARE AND PENSIONS ACT 2005 (PART 3) (COMMENCEMENT) ORDER 2005.

The Minister for Social and Family Affairs, in exercise of the powers conferred on him by section 1(4) of the Social Welfare and Pensions Act 2005 (No. 4 of 2005), hereby orders as follows:

Citation

1.  This Order may be cited as the Social Welfare and Pensions Act 2005 (Part 3) (Commencement) Order, 2005.

Commencement

2.  The 23rd day of September 2005 is appointed as the day on which Part 3, other than sections 38 and 39, of the Social Welfare and Pensions Act 2005 (No. 4 of 2005) comes into operation.

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GIVEN under the Official Seal of the Minister for Social and Family Affairs, this 21st day of September 2005.

 

SÉAMUS BRENNAN,

Minister for Social and Family Affairs.

EXPLANATORY NOTE.

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order provides for the commencement of Part 3 other than sections 38 and 39, of the Social Welfare and Pensions Act 2005 with effect from 23rd September 2005.

Part 3 of the Social Welfare and Pensions Act sections 27 to 37, provides for amendments to the Pensions Act 1990 which are necessary to provide for the transposition of EC Council Directive 2003/41/EC of the European Parliament and of Council of 3 June 2003 on the activities and supervision of Institutions for Occupational Retirement Provision (IORPs) and generally referred to as the IORPs Directive. The IORPs Directive provides a framework for the operation and supervision of occupational pension schemes and allows IORPs established in one EU Member State to be sponsored by employers in another Member State.

Part 3 also provides for additional amendments to the Pensions Act 1990 to implement the recommendations from the Pensions Board to the Minister for Social and Family Affairs on foot of a review of the Funding Standard together with other miscellaneous amendments to the Pensions Act 1990 .