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Aggregation and severance of schemes.
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230.—(1) References in this Chapter to a retirement benefits scheme shall be construed in accordance with the following provisions:
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(a) references to such a scheme shall, in relation to a deed, agreement, series of agreements, or other arrangements providing for retirement or other benefits for persons of two or more classes, be construed as references to so much thereof as relates to persons of a single class, and accordingly a deed, agreement, series of agreements or other arrangements so providing shall be treated for the purposes of this Chapter as constituting two or more retirement benefits schemes relating respectively to the different classes;
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(b) references to such a scheme include references to a deed, agreement, series of agreements, or other arrangements providing for retirement or other benefits for persons consisting of or including a director or employee, or directors or employees, of a body corporate (or, in a case falling within paragraph (a), to so much thereof as relates to a person or persons of any one class), notwithstanding that it or they relates or relate only to a small number of directors or employees, or to a single director or employee.
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(2) For the purpose of determining, in the case of a retirement benefits scheme submitted for the approval of the Revenue Commissioners, whether the conditions specified in section 229 (1) are satisfied, the scheme shall be considered in conjunction with any other scheme or schemes subsisting in connection with the body corporate and relating to persons of the class to which the scheme in question relates and if the said conditions are satisfied in the case of all the schemes taken together, those conditions shall be taken to be satisfied in the case of each of them, and, if not, those conditions shall be taken to be satisfied in the case of none of them.
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(3) The Revenue Commissioners may, if they think fit—
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(a) approve a part of a retirement benefits scheme, or
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(b) approve such scheme notwithstanding that, having regard to another such scheme subsisting in connection with the body corporate, the scheme in question is to be treated by virtue of subsection (2) as not satisfying the conditions aforesaid,
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and references in this Chapter to a retirement benefits scheme approved under section 229 shall be deemed to include references to a part of a scheme approved under this subsection.
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