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Superannuation.
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16.— (1) As soon as may be after the establishment day, the Authority, with the consent of the Minister and the consent of the Minister for Finance, shall make a scheme or schemes for the granting of superannuation benefits to or in respect of the members of staff, including the chief executive, of the Authority.
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(2) A superannuation scheme shall fix the time and conditions of retirement of all persons to or in respect of whom superannuation benefits are payable under the scheme or schemes and different times and conditions may be fixed in respect of different classes of persons.
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(3) The Authority may, with the consent of the Minister and the consent of the Minister for Finance, make a scheme amending or revoking a superannuation scheme including a scheme under this subsection.
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(4) A superannuation scheme submitted by the Authority shall, if approved by the Minister with the consent of the Minister for Finance, be carried out by the Authority in accordance with its terms.
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(5) Each superannuation scheme shall include a provision for appeals from a decision relating to a superannuation benefit under the scheme.
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(6) No superannuation benefits shall be granted by the Authority to or in respect of a person on ceasing to be chief executive or a member of the staff of the Authority otherwise than—
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(a) in accordance with a superannuation scheme or schemes, or
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(b) with the consent of the Minister and the Minister for Finance.
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(7) Every superannuation scheme shall provide for not less favourable conditions in respect of persons who, immediately before establishment day, were members of staff of the BCI than those to which they were entitled immediately before establishment day.
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(8) Disbursement of superannuation benefits which may be granted to or in respect of persons who, immediately before the establishment day, were members of staff of the BCI shall not be on less favourable conditions than would apply if the benefits referred to had continued to be paid out of monies provided by the BCI.
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(9) Where a superannuation benefit falls due for payment to or in respect of a person to whom subsection (7) applies in the period beginning on the establishment day and ending immediately before the coming into operation of a scheme submitted by the Authority and approved of under this section, the allowance shall be calculated and paid by the Authority in accordance with such superannuation arrangements or such enactments in relation to superannuation, as applied to such person immediately before the establishment day and, for that purpose, his or her pensionable service with the Authority shall be aggregated with his or her previous pensionable service.
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(10) (a) A superannuation scheme shall be laid before each House of the Oireachtas by the Minister as soon as may be after it is made.
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(b) Either House of the Oireachtas may, by resolution passed within 21 sitting days after the day on which a scheme was laid before it in accordance with paragraph (a), annul the scheme.
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(c) The annulment of a scheme under paragraph (b) takes effect immediately on the passing of the resolution concerned but does not affect anything that was done under the scheme before the passing of the resolution.
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