S.I. No. 259/1991 - Pensions Act, 1990 (Sections 59, 63 and 64) (Commencement) Order, 1991.

S.I. No. 259 of 1991.

PENSIONS ACT, 1990 (SECTIONS 59, 63 AND 64) (COMMENCEMENT) ORDER, 1991.

The Minister for Social Welfare, in exercise of the powers conferred on him by Section 1 (2) of the Pensions Act, 1990 (No. 25 of 1990), hereby orders as follows:—

1. This Order may be cited as the Pensions Act, 1990 (Sections 59, 63 and 64) (Commencement) Order, 1991.

2. Sections 59 , 63 and 64 of the Pensions Act, 1990 shall come into operation on the 1st day of November, 1991.

GIVEN under the Official Seal of the Minister for Social Welfare this

9th day of October, 1991.

MICHAEL WOODS,

Minister for Social Welfare.

EXPLANATORY NOTE.

This Order brings into effect the provisions of Sections 59 , 63 and 64 of the Pensions Act, 1990 , from November, 1991.

Section 59 outlines the duties and responsibilities of trustees of occupational pension schemes.

Section 63 and 64 deal with the appointment and removal of trustees of schemes. Section 63 provides the High Court may order the replacement of the trustees of an occupational pension scheme if, following a request made to it by the Board, it considers that such action is necessary in the interests of the members. Section 64 provides that where there are no trustees of a scheme or the trustees cannot be found, the Board may, on the application to it by an interested party, make an order for the appointment of trustees and for the vesting of the scheme's assets in them.