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S.I. No. 739/2003 - Pensions (Amendment) Act, 2002 (Section 3 (In So Far As It Relates To The Insertion of Section 124(2) Into The Pensions Act, 1990)) (Commencement) Order, 2003

The Minister for Social and Family Affairs, in exercise of the powers conferred on her by section 1 of the Pensions (Amendment) Act, 2002 (No. 18 of 2002), hereby orders as follows:

Citation.

1. This Order may be cited as the Pensions (Amendment) Act, 2002 (Section 3 (in so far as it relates to the insertion of Section 124(2) into the Pensions Act, 1990)) (Commencement) Order, 2003).

Commencement.

2. The 18th day of December 2003 is appointed as the day on which Section 3 (in so far as it relates to the insertion of Section 124 (2) into the Pensions Act, 1990 ) of the Pensions (Amendment) Act, 2002 comes into operation.

GIVEN under the Official Seal of the Minister for Social and Family Affairs, this 18th day of December 2003.

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MARY COUGHLAN

Minister for Social and Family Affairs

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This order provides for the commencement of section 124 (2) of the Pensions Act, 1990 as inserted by the Pensions (Amendment) Act, 2002 with effect from 18th December 2003.

Section 124(2) provides that regulations may allow, in accordance with such conditions as may be prescribed, for the transfer of PRSA assets into any arrangement for the provision of retirement benefits established outside the State to the same extent that transfers are permitted from a scheme.