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

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 18

th

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.

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 18

th

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.

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.