Industrial Development (Science Foundation Ireland) Act 2003


21.—(1) The Foundation may, with the consent of the Minister and the Minister for Finance, make a scheme or schemes for the granting of superannuation benefits to or in respect of such members of the staff of the Foundation, including the Director General, as it may think fit.

(2) Every such scheme shall fix the time and conditions of retirement for 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.

(3) Every such scheme may be amended or revoked by a subsequent scheme prepared, submitted and approved under this section.

(4) A scheme submitted by the Foundation under this section shall, if approved by the Minister with the consent of the Minister for Finance, be carried out by the Foundation in accordance with its terms.

(5) No superannuation benefit shall be granted by the Foundation nor shall any other arrangements be entered into by the Foundation for the provision of such a benefit to or in respect of a member of the staff of the Foundation including the Director General otherwise than in accordance with a scheme under this section or with the consent of the Minister and the Minister for Finance.

(6) If any dispute arises as to the claim of any person to, or the amount of, any superannuation benefit payable in pursuance of a scheme or schemes under this section, such dispute shall be submitted to the Minister who shall refer it to the Minister for Finance, whose decision shall be final.

(7) A scheme under this section shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the scheme is passed by either House within the next 21 days on which that House has sat after the scheme is laid before it, the scheme shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

(8) This section shall come into operation on such day as the Minister may appoint by order.