S.I. No. 80/1971:

C.I.E. SUPERANNUATION SCHEME, 1951 (AMENDMENT) SCHEME, 1968 (CONFIRMATION) ORDER, 1971.

C.I.E. SUPERANNUATION SCHEME, 1951 (AMENDMENT) SCHEME, 1968 (CONFIRMATION) ORDER, 1971.

WHEREAS by the Córas Iompair Éireann Superannuation Scheme 1951 (Confirmation) Order, 1951 ( S.I. No. 353 of 1951 ), made under section 44 (4) of the Transport Act, 1950 (No. 12 of 1950), the C.I.E. Superannuation Scheme, 1951 (a copy whereof is set out in the Schedule to that Order) was confirmed:

AND WHEREAS Córas Iompair Éireann (in these Recitals referred to as the Board) has, in pursuance of section 44 (5) of the Transport Act, 1950 (No. 12 of 1950), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. No. 125 of 1959 ), submitted to the Minister for Transport and Power a scheme (in these Recitals referred to as the amending scheme) amending the said C.I.E. Superannuation Scheme, 1951:

AND WHEREAS the amending scheme was under section 44 (2) and 44 (5) of the Transport Act, 1950 , referred back to the Board by the said Minister for re-consideration and re-submission:

AND WHEREAS the amending scheme was re-considered and re-submitted to the said Minister by the Board:

AND WHEREAS the said Minister, having considered objections and representations in relation to the amending scheme, proposes to confirm the amending scheme as reconsidered and resubmitted to him by the Board:

NOW, I, BRIAN LENIHAN, Minister for Transport and Power, in exercise of the powers conferred on me by sections 44 (4) and 44 (5) of the Transport Act, 1950 (No. 12 of 1950), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 (No. 125 of 1959), hereby, after consultation with the Minister for Finance, order as follows:

1. This Order may be cited as the C.I.E. Superannuation Scheme, 1951 (Amendment) Scheme, 1968 (Confirmation) Order, 1971.

2. The Scheme (amending the C.I.E. Superannuation Scheme, 1951) submitted by Córas Iompair Éireann under section 44 (5) of the Transport Act, 1950 (No. 12 of 1950), as modified by the Minister for Transport and Power (a copy of which, as so modified, is set out in the Schedule to this Order), is hereby confirmed, and shall come into operation on the 1st day of January, 1971.

SCHEDULE.

C.I.E. SUPERANNUATION SCHEME, 1951 AMENDING, SCHEME, 1968.

1. Interpretation:

In this amending Scheme the following words and expressions shall have the meanings hereby assigned to them unless there is something inconsistent in the subject matter or the context repugnant to such construction:--

"The existing Scheme" means the C.I.E. Superannuation Scheme, 1951, set out in the schedule to the Córas Iompair Éireann Superannuation Scheme, 1951 (Confirmation) Order, 1951, as amended by the C.I.E. Superannuation Scheme, 1951 (Amendment) Scheme, 1962 (Confirmation) Order, 1963 ( S.I. No. 221 of 1963 ).

"This Scheme" means the existing Scheme as hereby amended.

2. In this amending Scheme, unless otherwise expressly stated, references to numbered rules are references to the rules so numbered of the existing Scheme.

3. Rule 6 of the existing Scheme shall be revoked and the following new rule substituted therefor:--

"6. Investment of the Fund:

All moneys in the hands of the Trustees belonging to the Fund and not required for the immediate purposes of the Scheme may be lent to the Board re–payable on demand at an agreed rate of interest, or may be invested in the names or under the control of the Trustees as the Board, after consultation with the Committee, shall think proper in any investments for the time being authorised by law as investments for trust moneys, or in any other investments for the time being approved of, for the purpose of the Scheme, by the Minister for Finance."

4. The following new rule shall be added to the existing Scheme and inserted after rule 3:--

"3A. Members employed by Óstlanna Iompair Éireann.

When a person to whom section 15 of the Transport Act, 1963 applies remains or becomes a member of this Scheme the following provisions shall apply from the date when such person enters the employment of Óstlanna Iompair Éireann :--

(a) In the application of the provisions of this Scheme to such a member the words "the Board" where they appear in Rules 20 and 21A, Rule 24 (i), (ii) and (v) and Rule 29 shall be read to mean "Óstlanna Iompair Éireann".

(b) Rule 3 (6) of this Scheme shall not apply to any such member.

(c) Where a person to whom section 15 of the Transport Act, 1963 , applies was employed by the Board in a wages grade and entered the employment of Óstlanna Iompair Éireann in a clerical, supervisory or executive position the provisions of Rule 29 shall apply as if he had entered such employment in a wages grade and had been immediately promoted.

(d) Where the Board has made a special contribution under Rule 29 (b) in respect of a member who is subsequently re–transferred to a wages grade while in the employment of Óstlanna Iompair Éireann the said special contribution shall, notwithstanding paragraph (a) of this rule, be applied in discharge of any existing or future liability of the Board to the Fund.

(e) A member who leaves the employment of Óstlanna Iompair Éireann shall cease to be a member of this Scheme unless his employment with Óstlanna Iompair Éireann has been terminated to enable him to return to the employment of the Board and upon such termination he forthwith returns to the employment of the Board in which event the provisions of this rule shall cease to apply to that member.

(f) All notices which the provisions of this Scheme require to be exhibited in departments of the Board shall also be exhibited in all premises of Óstlanna Iompair Éireann on which a member to whom this rule applies is employed.

5. Rule 22 of the existing Scheme shall be amended by re–numbering paragraph (3) thereof to become paragraph (4) and by inserting the following new paragraph (3):--

"(3) If a male member with less than ten years' pensionsable membership dies in the service of the Board leaving a widow or children under eighteen years of age, a sum equal to twice the amount of the deceased member's contributions to the Scheme without interest shall be paid out of the Fund to such widow or for the benefit of such children."

GIVEN under my Official Seal, this 25th day of February, 1971.

BRIAN LENIHAN,

Minister for Transport and Power.

EXPLANATORY NOTE.

The purpose of the Order is to amend the existing superannuation scheme to give the Trustees wider powers of investment in respect of moneys belonging to the Fund of the Scheme, to cover the case of members transferred to the service of Óstlanna Iompair Éireann and to rectify an omission in a previous amendment.