S.I. No. 366/1977:

CORAS IOMPAIR EIREANN (ADDITIONAL POWERS) ORDER, 1977.

CORAS IOMPAIR EIREANN (ADDITIONAL POWERS) ORDER, 1977.

I, PADRAIG FAULKNER, Minister for Tourism and Transport, in exercise of the powers conferred on me by section 14 of the Transport Act, 1950 (No. 12 of 1950), the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. No. 125 of 1959 ), and the Transport and Power (Alteration of Name of Department and Title of Minister) Order, 1977 ( S.I. No. 305 of 1977 ), with the consent of the Minister for Finance, hereby order as follows:--

1. This Order may be cited as the Coras Iompair Eireann (Additional Powers) Order, 1977.

2. In this Order--

"the Board" means Coras Iompair Eireann;

"Board transfer member" means a person who, immediately before the agreed date (within the meaning of paragraph 9 of this Order), is a member of the fund and who--

( a ) is or was seconded for duty to the Board under section 14 (2) (a) of the Great Northern Railway Act, 1958 (No. 20 of 1958),

( b ) was formerly in the employment of the Great Northern Railway Company or the Great Northern Railway Board and at the time of his retirement on superannuation from that Company or that Board was resident in the State,

( c ) is or was seconded for duty to the Board under section 11 (2) (a) of the Transport (Miscellaneous Provisions) Act, 1971 (No. 14 of 1971),

( d ) was formerly in the employment of the County Donegal Railways Joint Committee, or

( e ) is or was formerly in the employment of the Irish Railway Clearing House;

"the Corporation" means the Railway Clearing System Superannuation Fund Corporation;

"the fund" means the fund of the Corporation;

"joint annuitant" means the widow or dependant relative of a deceased member of the fund who is in receipt of a joint annuity from the fund;

"member of the fund" means, as the case may be, a contributing or superannuated member of the fund, a joint annuitant, or a non-contributing member of the fund being a person who has superannuation rights thereunder which are deferred but who no longer contributes to the fund;

"the operative date" has the meaning assigned to it by paragraph 6 of this Order;

"the Minister" means the Minister for Tourism and Transport;

"a superannuation scheme" has the meaning assigned to it by paragraph 3 (1) of this Order;

"an amending superannuation scheme" has the meaning assigned to it by paragraph 5 of this Order.

3. (1) The Board shall prepare and submit to the Minister (and, if so required by him, submit to him within such time as he may direct) a scheme (in this Order referred to as "a superannuation scheme") for establishing on a contributory basis a superannuation fund for the benefit of Board transfer members.

(2) Where a superannuation scheme is submitted to the Minister, he may refer it back to the Board for reconsideration and resubmission, and the Board shall duly reconsider and resubmit the superannuation scheme.

(3) Where a superannuation scheme is submitted or resubmitted to the Minister under this Order:--

( a ) the Board shall publish, in such manner as the Minister may direct, a notice intimating that the scheme has been so submitted or resubmitted and that any person may, during a period specified in the notice (being a period of not less than seven days from the date of such publication), make to the Minister objections or representations in relation to the scheme;

( b ) the Board shall, during the specified period keep at its head office a copy of the scheme open for inspection by any interested persons at all reasonable hours;

( c ) the Minister shall, before confirming the scheme, consider any objections or representations in relation to it which have been made to him before the expiration of the specified period.

4. The Minister may, subject to paragraph 3 (3) (c), after consultation with the Minister for the Public Service, by order confirm, either without modification or with such modifications (whether by way of addition, omission or variation) as the Minister thinks proper, a superannuation scheme.

5. The Board may, whenever it thinks proper, prepare and submit to the Minister a scheme (in this Order referred to as "an amending superannuation scheme") amending (whether by addition, omission or variation) a superannuation scheme confirmed by the Minister or amending (whether by addition, omission or variation) or revoking an amending superannuation scheme for the time being in force, and paragraphs 3 (2), 3 (3) and 4 of this Order shall apply to an amending superannuation scheme.

6. A superannuation scheme or an amending superannuation scheme shall not become operative until it has been confirmed by order of the Minister, but, upon being so confirmed, shall come into operation on such date (in this Order referred to as "the operative date") as may be specified in the order confirming it and on and from that date shall have the force of law in the form in which it was so confirmed.

7. A fund set up for the purposes of a superannuation scheme shall be deemed to be set up under an irrevocable trust.

8. A superannuation scheme approved under this Order shall fix the time and conditions of retirement for all persons to or in respect of whom pensions, gratuities, or allowances on retirement or death are payable under it, and different times and conditions may be fixed in respect of different classes of such persons.

9. (1) In this paragraph--

"the agreed date" means the date agreed in writing in accordance with subparagraph (2) of this paragraph;

"the existing liabilities of the Corporation" means an amount equal to the aggregate of the following sums--

( a ) a sum accrued due before the agreed date in respect of any periodical payment payable under the rules of the Corporation to or in respect of a Board transfer member and which has not been paid;

( b ) any other sum which became due before the agreed date under the rules of the Corporation to or in respect of a Board transfer member and which had not been paid;

( c ) any sum (whether ascertained before or after the agreed date) for which the Corporation are or may be liable in respect of any moneys, investments or other assets which shall vest in accordance with this paragraph;

"the contingent liabilities of the Corporation" means any sum which, but for this paragraph, would under the rules of the Corporation become due on or after the agreed date to or in respect of a Board transfer member (or to or in respect of the widow, dependant or estate of a former member) who--

( a ) was seconded for duty to the Board under sub-section 14 (2) (a) of the Great Northern Railway Act, 1958 (No. 20 of 1958),

( b ) was formerly in the employment of the Great Northern Railway Company or the Great Northern Railway Board and at the time of his retirement on superannuation was resident in the State,

( c ) is or was seconded for duty to the Board under section 11 (2) (a) of the Transport (Miscellaneous Provisions) Act, 1971 (No. 14 of 1971),

( d ) was formerly in the employment of the County Donegal Railways Joint Committee, or

( e ) is or was formerly in the employment of the Irish Railway Clearing House.

(2) On and from a date to be agreed in writing between the Board and the Corporation--

( a ) every Board transfer member shall cease to be a member of the fund and shall become a member of the superannuation scheme established under paragraph 3 of this Order and for the time being in force;

( b ) the Corporation shall vest in the Board, or in such trustees as the Board may appoint, in respect of Board transfer members such proportionate share of all moneys, investments and other assets of the fund as may be agreed between the Corporation and the Board as equitable in the circumstances or, in default of agreement, as may be determined in accordance with the provisions of paragraph 10 of this Order.

( c ) the Corporation shall cease to be liable for the existing liabilities of the Corporation and the contingent liabilities of the Corporation in relation to or in connection with such Board transfer members, and no claim shall be maintainable by any person against the Corporation in respect of such liabilities.

(3) On and from the agreed date the existing liabilities of the Corporation and the contingent liabilities of the Corporation shall become charges on the scheme referred to in subparagraph (2) of this paragraph and shall be paid out by the Board or by any trustees appointed by the Board in respect of that scheme.

10. If any difference arises between the Corporation and the Board, or between the Corporation and any trustees appointed by the Board of the superannuation scheme referred to in paragraph 9 (2) of this Order, as to the moneys, investments and other assets to be transferred under this Order, or as to any matter arising under paragraph 9 of this Order, the difference shall be referred to and determined by an arbitrator agreed upon by the parties to the difference or (failing such agreement) appointed on the application of either of these parties (after notice in writing to the other party) by the President of the Institute of Actuaries.

GIVEN under my Official Seal, this 1st day of December, 1977.

PADRAIG FAULKNER,

Minister for Tourism and Transport.

The Minister for Finance hereby consents to the making of the foregoing Order.

GIVEN under the Official Seal of the Minister for Finance

this 1st day of December, 1977.

SEOIRSE O COLLA,

Minister for Finance.

EXPLANATORY NOTE.

The order confers on CIE the power to establish a superannuation scheme and fund for certain specified members of the Railway Clearing System Superannuation Fund Corporation.