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25 1990

PENSIONS ACT, 1990

PART II

Establishment of Pensions Board

Establishment day.

8. —The Minister may by order appoint a day to be the establishment day for the purposes of this Part.

Establishment of Board.

9. —(1) On the establishment day there shall stand established a body to be known as An Bord Pinsean—The Pensions Board, and in this Act referred to as “the Board”, to perform the functions conferred on it by this Act.

(2) The provisions of the First Schedule shall have effect with respect to the Board.

Functions of Board.

10. —(1) The functions of the Board shall be—

(a) to monitor and supervise the operation of this Act and pensions developments generally;

(b) to advise the Minister either at his request or on its own initiative on all matters relating to the functions assigned to the Board under this Act and on matters relating to pensions generally;

(c) to issue guidelines on the duties and responsibilities of trustees of schemes and codes of practice on specific aspects of their responsibilities;

(d) to encourage the provision of appropriate training facilities for trustees of schemes;

(e) to advise the Minister on standards for trustees of schemes and on their implementation;

(f) to publish an annual report and such other reports as it may from time to time consider necessary;

(g) to perform such tasks as the Minister may from time to time request.

(2) The Board shall have such powers as are necessary for or incidental to the performance of its functions.

Conferral of additional functions on Board.

11. —(1) The Minister may, with the consent of the Minister for Finance, by order—

(a) confer on the Board such additional functions connected with the functions for the time being of the Board as he considers appropriate, and

(b) make such provision as he considers necessary or expedient in relation to matters ancillary to or arising out of the conferral on the Board of functions so conferred.

(2) The Minister may by order amend or revoke an order under this section (including an order under this subsection).

(3) Every order made by the Minister under this section shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the order is passed by either such House within the next 21 days on which the House has sat after the order is laid before it, the order shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

Consultants and advisers.

12. —Subject to the prior approval of the Minister, the Board may from time to time engage such consultants or advisers as it may consider necessary for the performance of its functions, and any fees due to a consultant or adviser engaged under this section shall be paid by the Board out of moneys at its disposal.

Gifts.

13. —(1) The Board may accept gifts of money, land or other property upon such trusts or conditions (if any) as may be specified by the donor.

(2) The Board shall not accept a gift if the trusts or conditions attached to it would be inconsistent with its functions.

Committees of Board.

14. —(1) The Board may establish committees to assist and advise it in relation to the performance of any of its functions.

(2) The members of a committee established under this section shall be appointed by the Board.

(3) A committee established under this section may include persons who are not members of the Board.

(4) A member of a committee established under this section may be removed from office at any time by the Board.

(5) The Board may at any time dissolve a committee established under this section.

(6) The Board may appoint a person to be chairman of a committee established under this section.

(7) There may be paid out of the income of the Board to members of a committee established under this section such allowances for expenses incurred by them as the Board may, with the consent of the Minister and the Minister for Finance, determine.

Chief executive.

15. —(1) There shall be a chief officer of the Board who shall be known, and is referred to in this Act, as the chief executive.

(2) The chief executive shall be appointed, and may be removed from office at any time, by the Board with the consent of the Minister.

(3) The chief executive shall not be a member of the Board.

(4) The chief executive shall carry on and manage and control generally the administration and business of the Board and perform such other functions as may be determined by the Board.

(5) The chief executive shall devote the whole of his time to his duties as chief executive and shall not hold any other office or position without the consent of the Board.

(6) The chief executive shall hold office on and subject to such terms and conditions (including terms and conditions relating to remuneration) as may be approved of by the Minister with the consent of the Minister for Finance.

(7) The chief executive shall be paid, out of moneys at the disposal of the Board, such allowances for expenses incurred by him in the performance of his functions as may be determined by the Minister with the consent of the Minister for Finance.

(8) The chief executive may make proposals to the Board on any matter relating to its activities.

Staff of Board.

16. —(1) The Board may appoint such, and such number of, persons to be members of the staff of the Board as it may determine with the consent of the Minister and the Minister for Finance.

(2) (a) A member of the staff of the Board shall hold his office or employment on such terms and conditions (including terms and conditions relating to remuneration and superannuation) as the Board may, with the consent of the Minister and the Minister for Finance, determine.

(b) A member of the staff of the Board referred to in paragraph (a) shall be paid, out of the moneys at the disposal of the Board, such remuneration and allowances for expenses incurred by him as the Board may, with the consent of the Minister and the Minister for Finance, determine.

(c) The Board may, with the consent of the Minister, at any time remove any officer or servant of the Board from being its officer or servant.

(3) The grades of the staff of the Board, and the number of staff in each grade, shall be determined by the Board with the consent of the Minister and the Minister for Finance.

(4) The Board may perform any of its functions through or by the chief executive or any other member of its staff duly authorised by the Board in that behalf.

Superannuation of staff of Board.

17. —(1) The Board may, with the consent of the Minister and the Minister for Finance, make a scheme or schemes for the granting of superannuation benefits to or in respect of persons appointed to whole-time positions on the staff of the Board.

(2) A scheme under subsection (1) shall fix the time and conditions of retirement for all persons (including the chief executive) to or in respect of whom superannuation benefits are payable under the scheme or schemes and different times and conditions may be fixed in respect of different classes of persons.

(3) The Board may, with the consent of the Minister and the Minister for Finance, make a scheme amending or revoking a scheme under this section including a scheme under this subsection.

(4) If any dispute arises as to the claim of any person to, or the amount of, any superannuation benefit payable in pursuance of a scheme or schemes under this section such dispute shall be submitted to the Minister who shall refer it to the Minister for Finance, whose decision shall be final.

(5) No superannuation benefits shall be granted by the Board on the resignation, retirement or death of a member of the staff of the Board (including the chief executive) otherwise than in accordance with a scheme or schemes under this section.

(6) A scheme under this section shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the scheme is passed by either such House within the next 21 days on which that House has sat after the scheme is laid before it, the scheme shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

Authorised persons.

18. —(1) The Board may authorise in writing a person who is an employee of the Board (in this section referred to as “an authorised person”) to inspect or investigate the state and conduct of a scheme.

(2) The Board or an authorised person may, in relation to a scheme, require the employer concerned or the trustees of the scheme to furnish it within such reasonable period as may be specified with such information and explanations and such books of account and other documents in relation to the scheme as may be specified.

(3) An authorised person may, on production of his authorisation if so required—

(a) at all reasonable times enter the premises of any employer, trustees or agent, as the case may be, and

(b) make such examination or inquiry as may be necessary for ascertaining whether the provisions of this Act are being or have been complied with.

(4) The duty to produce or provide any information, document, material or explanation shall extend to any person being an officer or employee of the employer or a trustee or agent, as the case may be, or appears to the Board or the authorised person to have that information, document, material or explanation in his possession or under his control.

(5) If any employer, officer or employee of the employer, trustee of a scheme or agent to the scheme—

(a) wilfully obstructs an authorised person in the exercise of his powers under this section, or

(b) refuses without reasonable excuse to produce to such person any information, document, material or explanation when required to do so under this section, or

(c) refuses without reasonable excuse to answer any questions put to him by the authorised person with respect to the affairs of the scheme,

he shall be guilty of an offence under this section and shall be liable—

(i) on summary conviction to a fine not exceeding £1,000 or to imprisonment for a term not exceeding one year, or to both,

(ii) on conviction on indictment to a fine not exceeding £10,000 or to imprisonment for a term not exceeding 2 years, or to both.

(6) In this section “agent”, in relation to a scheme, includes the actuaries, auditors and other accountants and the financial and other advisers to the scheme.

(7) Any reference in this section to an officer, employee or agent of a scheme includes a reference to a person who has been, but no longer is, an officer, employee or agent (as the case may be) of the scheme.

Membership of either House of Oireachtas or of European Parliament by members or staff of Board.

19. —(1) Where a member of the Board is—

(a) nominated as a member of Seanad Éireann, or

(b) elected as a member of either House of the Oireachtas or as a representative in the European Parliament, or

(c) regarded pursuant to section 15 (inserted by the European Assembly Elections Act, 1984 ) of the European Assembly Elections Act, 1977 , as having been elected to the European Parliament to fill a vacancy,

he shall thereupon cease to be a member of the Board.

(2) Where a person who is a member of the staff of the Board is—

(a) nominated as a member of Seanad Éireann, or

(b) elected as a member of either House of the Oireachtas or as a representative in the European Parliament, or

(c) regarded pursuant to section 15 (inserted by the European Assembly Elections Act, 1984 ) of the European Assembly Elections Act, 1977 as having been elected to the European Parliament to fill a vacancy,

he shall thereupon stand seconded from employment by the Board and shall not be paid by, or be entitled to receive from, the Board any remuneration or allowances in respect of the period commencing on such nomination or election or when he is so regarded as having been elected, as the case may be, and ending when he ceases to be a member of either such House or a representative in such Parliament.

(3) A person who is for the time being entitled under the Standing Orders of either House of the Oireachtas to sit therein or is a representative in the European Parliament shall, while he is so entitled or is such a representative, be disqualified from becoming a member of the Board or the staff of the Board.

(4) Without prejudice to the generality of subsection (2), that subsection shall be construed as prohibiting, inter alia, the reckoning of a period mentioned in that subsection as service with the Board for the purposes of any superannuation benefits.

Advances by Minister to Board.

20. —The Minister may from time to time with the consent of the Minister for Finance, advance to the Board out of moneys provided by the Oireachtas, such sums as the Minister may determine for the purposes of expenditure by the Board in the performance of its functions.

Disclosure by member of Board of interest in proposed contract.

21. —A member of the Board who has—

(a) any material or financial interest in any body corporate with which the Board proposes to make any contract, or

(b) any material or financial interest in any contract which the Board proposes to make,

shall disclose to the Board the fact of that interest and the nature thereof, and shall take no part in any deliberation or decision of the Board relating to the contract, and the disclosure shall be recorded in the minutes of the Board.

Accounts and audits of Board.

22. —(1) The Board shall keep in such form as may be approved of by the Minister with the concurrence of the Minister for Finance all proper and usual accounts of all moneys received or expended by the Board including an income and expenditure account and balance sheet and, in particular, shall keep all such special accounts as the Minister may from time to time direct.

(2) Accounts kept in pursuance of this section shall be submitted as soon as may be after the end of the financial year of the Board to which they relate to the Comptroller and Auditor General for audit and a copy of the income and expenditure account and of the balance sheet and of such other (if any) of its accounts as the Minister may direct and a copy of the Comptroller and Auditor General's report on the account shall be presented to the Minister as soon as may be and the Minister shall cause copies of each of the documents aforesaid to be laid before each House of the Oireachtas.

Reports and information to Minister.

23. —(1) The Board shall furnish to the Minister such information regarding its income and expenditure as he may from time to time require.

(2) As soon as may be after the end of each financial year of the Board, but not later than 6 months thereafter, the Board shall make a report to the Minister of its activities during that year and the Minister shall cause copies of the report to be laid before each House of the Oireachtas.

(3) Each report under subsection (2) shall include information in such form and regarding such matters as the Minister may direct.

(4) The Board shall, whenever so requested by the Minister, furnish to him information in relation to such matters as he may specify concerning or relating to the scope of its activities generally, or in respect of any account prepared by the Board or any report specified in subsection (2) or (4) or section 22 (2) or the policy and activities, other than day to day activities, of the Board.

Disclosure of information.

24. —(1) A person shall not, without the consent of the Board, disclose any information obtained by him while performing (or as a result of having performed) duties as a member, or member of the staff of, or an adviser or consultant to, the Board.

(2) A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £1,000.

(3) Nothing in subsection (1) shall prevent the disclosure of information in a report made to the Board or by or on behalf of the Board to the Minister.

Fees payable to Board.

25. —The trustees of a scheme shall pay annually to the Board out of the resources of the scheme fees of such amount as may be prescribed with the consent of the Minister for Finance and different fees may be prescribed under this section in respect of different classes of schemes.

Provision in relation to determinations by Board under sections 38 , 53, 58, and 7 5.

26. —(1) (a) A question falling to be determined by the Board under section 38 , 53 , 58 or 75 shall be determined by it either, in its absolute discretion, without or after an oral hearing by the Board (or such member or members of the Board or other person or persons as the Board may authorise for that purpose).

(b) Any person concerned may make representations to the Board in relation to such a question as aforesaid and in reaching its determination the Board shall take account of any such representations.

(2) Representations under subsection (1) shall be made in writing or, if an oral hearing is being held under subsection (1) in relation to the question concerned, at the hearing.

(3) The person or persons holding an oral hearing under this section shall have power to take evidence on oath and for that purpose any of the persons aforesaid may administer oaths to persons attending as witnesses at the hearing.

(4) (a) The person or any of the persons holding an oral hearing under this section may, by giving notice in that behalf in writing to a person, require the person to attend on such day and at such time and place as is specified in the notice to give evidence at the hearing in relation to the question to be determined by the Board or to produce at the hearing any documents in his possession, custody or control relating to any such question.

(b) A notice under paragraph (a) may be given either by delivering it to the person to whom it relates or by sending it by post in a prepaid registered letter addressed to the person at the address at which he ordinarily resides.

(c) A person to whom a notice under paragraph (a) has been given and who refuses to give evidence or gives false evidence at an oral hearing under this section or refuses or wilfully fails to produce any document to which the notice relates at such a hearing shall be guilty of an offence and shall be liable—

(i) on summary conviction, to a fine not exceeding £1,000 or to imprisonment for a term not exceeding one year, or to both,

(ii) on conviction on indictment, to a fine not exceeding £10,000 or to imprisonment for a term not exceeding 2 years, or to both.

(5) The person or persons holding an oral hearing under this section may order a person concerned to pay to any other person concerned a reasonable sum in respect of expenses occasioned by the person in relation to the hearing and any such sum may be recovered by the person concerned from the other person concerned, as a simple contract debt in any court of competent jurisdiction.

(6) Subject to the provisions of this Act, the procedure at oral hearings under this section shall be such as may be prescribed and regulations for the purposes of this subsection may, without prejudice to the generality of the foregoing, make provision for the notification of persons concerned of the making of representations under this section, of the date, time and place of such hearings and of determinations of the Board under section 38 , 53 , 58 or 75 , for the circumstances (if any) in which persons concerned may present their cases at such hearing through representatives (including legal representatives), for the making of a sufficient record of the proceedings at such hearings and for such other matters as the Minister considers necessary or expedient for the purposes of this section and for giving full effect to it.