S.I. No. 449/2025 - European Union (Securitisation and Taxonomy) (Occupational Pension Schemes) Regulations 2025
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 3rd October, 2025. | ||
I, DARA CALLEARY, Minister for Social Protection, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving further effect to Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 20171 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No. 1060/2009 and (EU) No. 648/2012, and full effect to Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 20202 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088, hereby make the following regulations: | ||
Citation | ||
1. These Regulations may be cited as the European Union (Securitisation and Taxonomy) (Occupational Pension Schemes) Regulations 2025. | ||
Definition | ||
2. In these Regulations, “Principal Act” means the Pensions Act 1990 (No. 25 of 1990). | ||
Amendment of section 2 of Principal Act | ||
3. Section 2(1) of the Principal Act is amended by the insertion of the following definitions: | ||
“ ‘Securitisation Regulation’ means Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 20171 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No. 1060/2009 and (EU) No. 648/2012; | ||
‘Taxonomy Regulation’ means Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 20202 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088;”. | ||
Amendment of section 10 of Principal Act | ||
4. Section 10(1) of the Principal Act is amended by the substitution of the following paragraph for paragraph (fd): | ||
“(fd) to monitor compliance by the trustees of schemes and trust RACs with– | ||
(i) the SFD Regulation, | ||
(ii) the Securitisation Regulation, and | ||
(iii) the Taxonomy Regulation,”. | ||
Amendment of section 59 of Principal Act | ||
5. Section 59 of the Principal Act is amended by the substitution of the following subsection for subsection (1F): | ||
“(1F) The trustees of a scheme or trust RAC shall comply with – | ||
(a) the following articles of the SFD Regulation: | ||
(i) Article 3(1); | ||
(ii) Article 4(1), (2), (3), (4); | ||
(iii) Article 5; | ||
(iv) Article 6(1), (3); | ||
(v) Article 7; | ||
(vi) Article 8(1), (2), (2a); | ||
(vii) Article 9(1), (2), (3), (4), (4a); | ||
(viii) Article 10(1); | ||
(ix) Article 11(1), (2); | ||
(x) Article 12(1); | ||
(xi) Article 13(1); | ||
(xii) Article 15(1); | ||
(b) Article 5 of the Securitisation Regulation, and | ||
(c) Articles 5, 6 and 7 of the Taxonomy Regulation.”. | ||
Amendment of section 59AB of the Principal Act | ||
6. Section 59AB is amended by the insertion of the following subsection after subsection (2): | ||
“(2A) When investing, the trustees of a scheme or trust RAC shall comply with Article 5 of the Securitisation Regulation if adopting a securitisation position.”. | ||
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GIVEN under my Official Seal, | ||
23 September, 2025. | ||
DARA CALLEARY, | ||
Minister for Social Protection. | ||
