19.—(1) The Board may prepare and submit to the Minister a scheme (in this section called a “special amending scheme”) which—

(a) amends a scheme to which this subsection applies (the “receiving scheme”) by providing—

(i) for a fund established by and maintained under the receiving scheme to receive and include assets transferred from a fund established by and maintained under another scheme to which this subsection applies (the “transferring scheme”) and contributions payable under the transferring scheme, and

(ii) for benefits arising under the transferring scheme to be paid out of the fund established by and maintained under the receiving scheme,

or

(b) amends a scheme to which this subsection applies (the “transferring scheme”) by providing.

(i) for the assets of a fund established by and maintained under the transferring scheme (if any) to be transferred, and contributions payable under the transferring scheme to be paid, to a fund established by and maintained under another scheme to which this subsection applies (the “receiving scheme”), and

(ii) for benefits arising under the transferring scheme to cease to be payable out of the fund established by and maintained under the transferring scheme.

(2) (a) A special amending scheme shall not amend any scheme to which subsection (1) applies so as to provide less favourable benefits, or to provide benefits on less favourable terms and conditions, than those provided before the special amending scheme was made.

(b) A fund established by and maintained under a scheme which is a receiving scheme for the purposes of subsection (1) shall, after receiving any transfer of assets or payment of contributions made pursuant to a special amending scheme, continue to be deemed to be held under an irrevocable trust in accordance with section 44(7) of the Transport Act, 1950.

(3) Subsection (1) applies to—

(a) the schemes specified in Part I of the Table to this section, and

(b) any superannuation scheme specified in regulations under subsection (6).

(4) Subsections (1) to (6) of section 44 of the Transport Act, 1950, shall apply, with any necessary modifications and adaptations, to a special amending scheme.

(5) (a) The schemes confirmed by the orders specified in Part II of the Table to this section (in this subsection referred to as the “scheduled schemes”) shall be deemed always to have been validly made by the Board, and to have been validly confirmed by the Minister, under the said section 44.

(b) Notwithstanding paragraph (a), that paragraph does not apply to a scheduled scheme if and in so far as it provides less favourable benefits, or provides benefits on less favourable terms and conditions, than those provided before the scheduled scheme was made.

(c) A fund established by and maintained under a scheme amended by a scheduled scheme shall, after receiving any transfer of assets or payment of contributions made pursuant to a scheduled scheme, continue to be deemed to be held under an irrevocable trust in accordance with section 44(7) of the Transport Act, 1950.

(6) The Minister may, if he or she considers it appropriate to do so and is so requested by the Board, specify by regulations for the purposes of subsection (3) a superannuation scheme made by the Board or in relation to which the Board may exercise any power formerly exercisable by the person who made the scheme.

(7) In this section “the Board” means Córas Iompair Éireann.

TABLE

Subsection (1).

Part I

Part II

Subsection (5).