Financial Measures (Miscellaneous Provisions) Act 2009 (Fáilte Ireland Contributory Pension and Death Benefits Scheme Fund (Formerly Known As Cert)) Transfer Order 2009

• Statutory Instrument No.: 525/2009
• Published date: 22 December 2009

S.I. No. 525 of 2009

FINANCIAL MEASURES (MISCELLANEOUS PROVISIONS) ACT 2009 (FÁILTE IRELAND CONTRIBUTORY PENSION AND DEATH BENEFITS SCHEME FUND (FORMERLY KNOWN AS CERT)) TRANSFER ORDER 2009

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 22nd December, 2009.

I, MARTIN CULLEN T.D., Minister for Arts, Sport and Tourism, with the consent of the Minister for Finance, in exercise of the powers conferred 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 (Fáilte Ireland Contributory Pension and Death Benefits Scheme Fund (formerly known as CERT)) Transfer Order 2009.

2. In this Order—

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

“Fund” means the Fáilte Ireland Contributory Pension and Death Benefits Scheme Fund (formerly known as CERT)

and

“Body” means Fáilte Ireland.

3. The date of effect of this Order is 31 December 2009.

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 trustee of the Scheme shall transfer 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 Arts, Sport and Tourism with the consent of the Minister for Finance, incurred in effecting the transfer.

(3) The trustee 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 trustee 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) The Body may authorise payments from the Transfer Order Account to meet the liabilities and other costs referred to in...