S.I. No. 449/2025 - European Union (Securitisation and Taxonomy) (Occupational Pension Schemes) Regulations 2025

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.”.

GIVEN under my Official Seal,

23 September, 2025.

DARA CALLEARY,

Minister for Social Protection.

1 OJ No. L347, 28.12.2017, p.35

2 OJ No. L198, 22.6.2020, p.13

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

3

rd 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 2017

1

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 2020

2

on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088, hereby make the following regulations

Citation