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Notice of the making of this Statutory Instrument was published in
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“Iris Oifigiúil” of 7th March, 2023.
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I, HEATHER HUMPHREYS, Minister for Social Protection, in exercise of the powers conferred on me by
section 3
of the
European Communities Act 1972
(No. 27 of 1972) and for the purpose of giving full effect to Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 20191
, as amended by Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 20202
, hereby make the following regulations:
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1. These Regulations may be cited as the European Union (Sustainability-Related Disclosures in the Financial Services Sector) (Occupational Pension Schemes) Regulations 2023.
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2. The Pensions Act 1990 (No. 25 of 1990) is amended –
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(a) in section 2(1), by the insertion of the following definition:
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“ ‘SFD Regulation’ means Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 20191
on sustainability-related disclosures in the financial services sector as amended by Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 20202
;”,
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(b) in section 3A(1A), in paragraph (a), by the insertion of “or (1F)” after “59(1)(ca)”,
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(c) in section 10(1), by the insertion of the following paragraph after paragraph (fc):
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“(fd) to monitor compliance by the trustees of schemes and trust RACs with the SFD Regulation,”,
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(d) in section 54, by the insertion of the following subsection after subsection (1):
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“(1A) The trustees of a scheme or trust RAC shall, further to a request made by the Pensions Authority, furnish it, by a date specified in the request, with such information as the Authority may require in relation to compliance with section 59(1F).”, and
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(e) in section 59, by the insertion of the following subsection after subsection (1E):
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“(1F) The trustees of a scheme or trust RAC shall comply with the following articles of the SFD Regulation:
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(a) article 3(1);
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(b) article 4(1), (2), (3), (4);
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(c) article 5;
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(d) article 6(1), (3);
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(e) article 7;
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(f) article 8(1), (2), (2a);
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(g) article 9(1), (2), (3), (4), (4a);
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(h) article 10(1);
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(i) article 11(1), (2);
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(j) article 12(1);
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(k) article 13(1);
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(l) article 15(1).”.
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GIVEN under my Official Seal,
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23 February, 2023.
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HEATHER HUMPHREYS,
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Minister for Social Protection.
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EXPLANATORY NOTE
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(This note is not part of the Instrument and does not purport to be a legal interpretation.)
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These Regulations amend the Pensions Act 1990 to provide that the Pension Authority’s existing powers of supervision and enforcement are extended to the provisions of Regulation (EU) 2019/2088.
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1 OJ L 317, 9.12.2019, p. 1
2 OJ L 198, 22.6.2020, p. 13
1 OJ L 317, 9.12.2019, p. 1
2 OJ L 198, 22.6.2020, p. 13 |