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Pension Schemes Act 1995

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Pension Schemes Act 1995 c i e AT 11 of 1995 PENSION SCHEMES ACT 1995 Pension Schemes Act 1995 Index c i e PENSION SCHEMES ACT 1995 Index Section Page 1 Application of Pension Schemes Act 1993 etc ............................................................ 5 2 Orders under s 1(1): supplemental provisions ........................................................... 6 3 Short title .......................................................................................................................... 7 ENDNOTES 9 TABLE OF LEGISLATION HISTORY 9 TABLE OF RENUMBERED PROVISIONS 9 TABLE OF ENDNOTE REFERENCES 9 c AT 11 of 1995 Page 3 Pension Schemes Act 1995 Section 1 c i e PENSION SCHEMES ACT 1995 Received Royal Assent: 18 October 1995 Passed: 19 October 1995 Commenced: 19 October 1995 AN ACT to provide for the application to the Island of legislation relating to occupational pension schemes; and for connected purposes. 1 Application of Pension Schemes Act 1993 etc (1) The Treasury may by order apply to the Island as part of the law of the Island, subject to such exceptions, adaptations and modifications as may be specified in the order, any legislation of the United Kingdom to which this section applies.1 (2) This section applies to — (a) the Pension Schemes Act 1993 (an Act of Parliament) and the Pensions Act 1995 (an Act of Parliament);2 (b) any Act of Parliament or provision specified in an order under subsection (3); (c) any provision of an Act of Parliament amending, varying or modifying, directly or indirectly, any Act or provision referred to in paragraph (a) or (b); (d) any statutory instrument made or having effect as if made under any Act or provision referred to in paragraph (a) or (b). (3) The Treasury may by order specify for the purposes of subsection (2) any Act of Parliament, or any provision of an Act of Parliament, passed after this Act and relating to pension schemes.3 (4) An order under subsection (1) or (3) shall not have effect unless it is approved by Tynwald. (5) In this section “pension scheme” means any scheme or arrangement which is comprised in one or more instruments or agreements and which has, or is capable of having, effect so as to provide benefits, in the form of pensions or otherwise, payable on termination of service, or on death or retirement, to or in respect of persons engaged in any employment. c AT 11 of 1995 Page 5 Section 2 Pension Schemes Act 1995 2 Orders under s 1(1): supplemental provisions (1) An order under section 1(1) may include provision repealing or amending any statutory provision (other than this Act) which is inconsistent with, or is unnecessary or requires modification in consequence of, the order or any legislation applied to the Island by the order. (2) Any provision of an order under section 1(1) may be made retrospective and be deemed to have had effect from such day or days as may be specified in the order, not being earlier than the date from which the relevant legislation had effect in the United Kingdom; but a provision made by virtue of this subsection may not impose any penalty or increased penalty in respect of anything done or omitted to be done before the day on which the order comes into operation. (3) An order under section 1(1) may do all or any of the following — (a) specify the exceptions, adaptations and modifications subject to which the relevant legislation applies to the Island; (b) set out the relevant legislation applied by the order, incorporating any exceptions, adaptations and modifications subject to which it applies to the Island; (c) in the case of an order applying legislation which amends previous legislation applied to the Island, set out the previous legislation so applied, as amended, incorporating any exceptions, adaptations and modifications subject to which that legislation applies to the Island. (4) The Treasury shall, as soon as may be after the coming into operation of an order under section 1(1) (except an order setting out the relevant legislation in accordance with subsection (3)(b) or (c)), prepare — (a) a text of the legislation applied by the order; or (b) in the case of an order applying legislation which amends previous legislation applied to the Island, a text of the previous legislation so applied, as amended; (c) in the case of an order amending a previous order under section 1(1), a text of the legislation applied by the previous order, as it has effect by virtue of the previous order as amended; incorporating any exceptions, adaptations and modifications specified in the order and in any previous order having effect in relation thereto.4 (5) The Treasury shall — (a) make a copy of the text prepared under subsection (4) available for public inspection free of charge at its principal office at all times when that office is open to the public; and Page 6 AT 11 of 1995 c Pension Schemes Act 1995 Section 3 (b) supply a copy of the said text to any person requesting the same, at such reasonable charge as the Treasury may determine.5 6 3 Short title This Act may be cited as the Pension Schemes Act 1995. c AT 11 of 1995 Page 7 Pension Schemes Act 1995 Endnotes ENDNOTES Table of Legislation History Legislation Year and No Commencement Table of Renumbered Provisions Original Current Table of Endnote References 1 Subs (1) amended by SD155/10 Sch 6 and by SD2014/08. 2 Para (a) amended by Statute Law Revision Act 1997 Sch 1. 3 Subs (3) amended SD2014/08. 4 Subs (4) amended SD2014/08. 5 Para (b) amended by SD2014/08. 6 Subs (5) amended SD2014/08. c AT 11 of 1995 Page 9 .
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