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  4. S.I. No. 269/1960 - Houses of the Oireachtas (Members) Pensions Scheme (Deduction of Contributions) Regulations, 1960.

S.I. No. 269/1960 - Houses of the Oireachtas (Members) Pensions Scheme (Deduction of Contributions) Regulations, 1960.

S.I. No. 269 of 1960.

HOUSES OF THE OIREACHTAS (MEMBERS) PENSIONS SCHEME (DEDUCTION OF CONTRIBUTIONS) REGULATIONS, 1960.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by subsection (3) of section 6A of the Oireachtas (Allowances to Members) Act, 1938 (No. 34 of 1938), as amended by section 5 of the Oireachtas (Allowances to Members) and Ministerial and Parliamentary Offices (Amendment) Act, 1960 (No. 12 of 1960), hereby make the following regulations:

1. These Regulations may be cited as the Houses of the Oireachtas (Members) Pensions Scheme (Deduction of Contributions) Regulations, 1960.

2. In these Regulations—

"allowance," in relation to a member of Dáil Éireann or Seanad Éireann, means the allowance paid to him under the Oireachtas (Payment of Members) Acts, 1938 to 1960;

"the Fund" means the fund set up under the Scheme;

"the Scheme" means the scheme made under section 6A of the Oireachtas (Allowances to Members) Act, 1938 , as amended by section 5 of the Oireachtas (Allowances to Members) and Ministerial and Parliamentary Offices (Amendment) Act, 1960 .

3. The Minister for Finance shall, from every monthly payment of the allowance of a member of Dáil Éireann or Seanad Éireann, make a deduction equal to the contribution proper to be paid by such member in accordance with the Scheme.

4. Deductions under these Regulations shall be transferred monthly to the account of the trustees of the Scheme, and each such deduction, on being so transferred, shall be regarded as a payment which the member concerned has made to the Fund on the day on which the payment from which the deduction was made became due.

GIVEN under my Official Seal, this 16th day of December, 1960.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations authorise the deduction from the Parliamentary Allowances of members of the Houses of the Oireachtas of the contributions due by them under the Houses of the Oireachtas Pensions Scheme and their payment into the fund set up under that Scheme.