19. (1) Subject to subsection (2), the Regulator may, with the approval of the Minister and the consent of the Minister for Public Expenditure and Reform, make a scheme or schemes for the granting of superannuation benefits to or in respect of the members of the staff (including the chief executive) of the Regulator.

(2) A scheme prepared and submitted under this section shall not provide for the granting of superannuation benefits to or in respect of any person where the Single Public Service Pension Scheme applies to that person by virtue of Chapter 2 of Part 2 of the Public Service Pensions (Single Scheme and Other Provisions) Act 2012.

(3) A scheme under this section shall fix the time and conditions of retirement of all persons 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.

(4) The Regulator may, with the approval of the Minister and the consent of the Minister for Public Expenditure and Reform, make a scheme amending a scheme under this section including a scheme under this subsection.

(5) A scheme under this section shall be carried out by the Regulator in accordance with its terms.

(6) A scheme under this section shall include provision for appeals from a decision relating to a superannuation benefit under the scheme.

(7) No superannuation benefits shall be granted by the Regulator to or in respect of a person on ceasing to be a member of the staff (including the chief executive) of the Regulator otherwise than—

(a) in accordance with a scheme or schemes under this section, or

(b) with the approval of the Minister and the consent of the Minister for Public Expenditure and Reform.

(8) A scheme under this section shall be laid before each House of the Oireachtas as soon as practicable 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.

(9) S ubsection (8) shall, with all necessary modifications, apply to an amendment to a scheme under this section as it applies to a scheme under this section.

(10) In this section—

“amending”, in relation to a scheme under this section, includes revoking the scheme;

“superannuation benefit” means a pension, gratuity or other allowance payable on retirement, resignation or death.