Taxes Consolidation Act, 1997
PART 30 Occupational Pension Schemes, Retirement Annuities, Purchased Life Annuities and Certain Pensions | ||
CHAPTER 1 Occupational pension schemes | ||
Interpretation and supplemental ( Chapter 1 ). [FA72 s13(1), (2) and (4); FA74 s86 and Sch2 PtII] |
770.—(1) In this Chapter, except where the context otherwise requires— | |
“administrator”, in relation to a retirement benefits scheme, means the person or persons having the management of the scheme, and references to the administrator of a scheme shall be deemed to include the person mentioned in section 772 (2) (c); | ||
“approved scheme” means a retirement benefits scheme for the time being approved by the Revenue Commissioners for the purposes of this Chapter; | ||
“company” includes any body corporate or unincorporated body of persons other than a partnership; | ||
“director”, in relation to a company, includes— | ||
(a) in the case of a company the affairs of which are managed by a board of directors or similar body, a member of that board or body, | ||
(b) in the case of a company the affairs of which are managed by a single director or similar person, that director or person, | ||
(c) in the case of a company the affairs of which are managed by the members themselves, a member of that company, | ||
and includes a person who is to be or has been a director; | ||
“employee”— | ||
(a) in relation to a company, includes an officer of the company, any director of the company and any other person taking part in the management of the affairs of the company, and | ||
(b) in relation to any employer, includes a person who is to be or has been an employee, | ||
and “employer” and other cognate expressions shall be construed accordingly; | ||
“exempt approved scheme” has the meaning assigned to it by section 774 ; | ||
“final remuneration” means the average annual remuneration of the last 3 years' service; | ||
“pension” includes annuity; | ||
“relevant benefits” means any pension, lump sum, gratuity or other like benefit— | ||
(a) given or to be given on retirement or on death or in anticipation of retirement or, in connection with past service, after retirement or death, or | ||
(b) to be given on or in anticipation of or in connection with any change in the nature of the service of the employee in question, | ||
but does not include any benefit which is to be afforded solely by reason of the death or disability of a person resulting from an accident arising out of or in the course of his or her office or employment and for no other reason; | ||
“service” means service as an employee of the employer in question and other expressions, including “retirement”, shall be construed accordingly; | ||
“statutory scheme” means a retirement benefits scheme established by or under any enactment. | ||
(2) Any reference in this Chapter to the provision of relevant benefits, or of a pension, for employees of an employer includes a reference to the provision of those benefits or that pension by means of a contract between the administrator or the employer and a third person. | ||
(3) Schedule 23 shall apply for the purposes of supplementing this Chapter and shall be construed as one with this Chapter. |