S.I. No. 284/2010 - Financial Measures (Miscellaneous Provisions) Act 2009 (Institute of Public Administration) Transfer Order 2010.


Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 15th June, 2010.

I, BRIAN LENIHAN, Minister for Finance, in exercise of the powersconferred on me by section 5 of the Financial Measures (Miscellaneous Provisions) Act 2009 (No. 14 of 2009), hereby make the following Order:

1. This Order may be cited as the Financial Measures (Miscellaneous Provisions) Act 2009 (Institute of Public Administration) Transfer Order 2010.

2. In this Order—

“Act” means the Financial Measures (Miscellaneous Provisions) Act 2009 (No. 14 of 2009);

“Body” means the Institute of Public Administration; and

“Fund” means Institute of Public Administration Superannuation Fund.

3. The date of effect of this Order is 30 June 2010.

4. The superannuation provisions in the instruments and other documents listed in the Schedule comprise the relevant pension scheme.

5. (1) Before the date of effect of this Order, the Body shall cause a bank account (in this Order referred to as the “Transfer Order Account”), to be established.

(2) After the establishment of the Transfer Order Account and before the date of effect, the Body shall transfer from the Fund to that account sufficient monies to meet the estimated liabilities of the Fund which fall due for payment after the date of effect, the reasonable cost of a valuation to be carried out under Section 10(3)(a) of the Act and any other costs, which have been approved by the Minister for Finance, incurred in effecting the transfer.

(3) The Body shall ensure that sufficient monies are transferred to the Transfer Order Account to satisfy the liabilities and other costs referred to in paragraph (2).

(4) In calculating the amount required to be transferred under paragraph (2), the Body shall take into account employer and employee contributions or other receivables payable but not yet paid to the Fund in respect of the period prior to the date of effect.

(5) Following the approval of the Minister for Finance, the Body mayauthorise payments from the Transfer Order Account to meet the liabilities and other costs referred to in paragraph (2) and shall lodge contributions and other receivables referred to in paragraph (4) to the Transfer Order Account.

(6) When the Body is satisfied that all liabilities and other costs under paragraph (2), approved under paragraph (5), have been paid from the Transfer Order Account and all contributions and other receivables referred to in paragraph (4) have been lodged to that account, the Body shall prepare a final statement in respect of the Transfer Order Account, remit any balance to the Reserve Fund, close the account and submit a copy of the final statement to the Minister for Finance and the Commission.

6. As soon as may be after the date of effect, the Body shall cause final accounts of the Fund to be prepared and shall have those accounts audited.

SCHEDULE

1. Institute of Public Administration Interim Trust Deed dated 1st April, 1965.

2. The Institute of Public Administration Superannuation Fund Trust Deed dated 13th November 2001.

3. The Institute of Public Administration Superannuation Fund Deed of Amendment dated 24th May 2010.

4. Institute of Public Administration Superannuation (Consolidation) Scheme, 2010.

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GIVEN under my Official Seal,

11 June 2010.

BRIAN LENIHAN,

Minister for Finance.

EXPLANATORY NOTE

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

This Order is made under Section 5 of the Financial Measures (Miscellaneous Provisions) Act 2009 . Under Section 6 of that Act, the assets of the Institute of Public Administration Superannuation Fund are transferred to the National Pensions Reserve Fund on the date this Order takes effect — 30 June 2010.