Number 26 of 1990

INSURANCE ACT, 1990

ARRANGEMENT OF SECTIONS

SCHEDULE

Number 26 of 1990

INSURANCE ACT, 1990

Interpretation.

1.—In this Act—

“the Court” means the High Court;

“subsidiary” has the meaning assigned to it by the Companies Act, 1963;

“the Holding Company” means a company of which the Original Company or the New Company is a subsidiary;

“the Minister” means the Minister for Finance;

“the New Company” means a subsidiary of the Holding Company to which the business of the Original Company may be transferred by a transfer order;

“the Original Company” means Irish Life Assurance plc;

“the transfer date” means the date specified in a transfer order for the transfer of the assurance business of the Original Company to the New Company;

“transfer order” means an order (including a supplemental order) made by the Court under section 13 of the Assurance Companies Act, 1909.

Acquisition of shares in Holding Company.

2.—(1) It shall be lawful for the Minister—

(a) to exchange any shares of the Original Company for the time being vested in him or his nominees for shares in the Holding Company, and

(b) to acquire by subscription, purchase, capitalisation, issue or otherwise any share or shares in the Holding Company.

(2) The Minister may hold for as long as he thinks fit the shares in the Holding Company for the time being vested in him or his nominees and may sell, exchange or dispose of, whether by redemption or otherwise, if he considers it appropriate to do so, all or any of such shares.

(3) All sums from time to time required by the Minister for the acquisition by him of shares in the Holding Company shall be advanced out of the Central Fund or the growing produce thereof.

(4) All dividends and other moneys received by the Minister in respect of shares in the Holding Company and all sums paid to him in consideration of the sale or disposal by the Minister of such shares shall be paid into or disposed of for the benefit of the Exchequer.

(5) If the Minister disposes of any shares in the Holding Company, otherwise than by sale, then the proceeds of such disposition shall be held on trust for the benefit of the Exchequer until he realises the proceeds of his disposal and the proceeds so realised shall be paid into or disposed of for the benefit of the Exchequer.

Rights of Minister as holder of shares.

3.—(1) The Minister may exercise in respect of the shares of the Holding Company vested in or allotted to him all the rights and powers of a holder or allottee of such shares and, where a right or power is exercisable by attorney or proxy, exercise it by attorney or proxy appointed by him.

(2) The Minister, or his nominees, at the direction of the Minister, may renounce the right to any shares in the Holding Company and any sums paid to the Minister or his nominees in consideration of such renunciation shall be treated for the purposes of this Act in the same manner as sums paid to the Minister or his nominees in consideration of the sale of shares.

Shares held by nominees.

4.—(1) Subject to section 3 (2) of this Act, every share of the Holding Company which is to be allotted or transferred to the Minister or his nominees shall be allotted or transferred either, as the Minister shall direct, to the Minister or to a person (in this section referred to as a nominee) nominated in that behalf by the Minister, and different persons may be so nominated in respect of different shares.

(2) The following provisions shall apply and have effect in respect of all shares of the Holding Company which are for the time being standing in the name of a nominee for the Minister, that is to say:

(a) it shall be lawful—

(i) for the Minister to transfer all or any of the said shares to another person selected by the Minister to hold as his nominee the shares so transferred;

(ii) for the Minister to direct a nominee to sell, exchange or otherwise dispose of all or any of the shares of the Holding Company for the time being vested in him as such nominee;

(iii) for the Minister to direct a nominee to transfer all or any of the shares of the Holding Company for the time being vested in him as such nominee either (as shall be specified in such direction) to the Minister orto another person selected by the Minister to hold such shares as his nominee;

(b) every nominee shall hold upon trust for the Minister all or any shares of the Holding Company for the time being vested in him as such nominee and shall sell, exchange or otherwise dispose of such shares in such manner as the Minister shall direct from time to time in writing;

(c) every direction given under this subsection by the Minister shall be a good and lawful authority and discharge to the nominee to whom it is given for everything done by him in accordance therewith, and such nominee shall not be entitled or concerned to enquire whether such direction was or was not lawfully given;

(d) every nominee shall act in all respects in accordance with the directions of the Minister when exercising the rights and powers exercisable in respect of the shares of the Holding Company for the time being vested in him as such nominee;

(e) every nominee shall pay into the Exchequer, in such manner as the Minister shall direct, all dividends and other moneys received by him in respect of shares of the Holding Company for the time being vested in him as such nominee, and also the proceeds of the sale by him of any such shares.

(3) This section shall apply to the personal representative of a deceased nominee in like manner as it applies to a living nominee, and accordingly the word “nominee” shall in this section be construed (wherever the context so admits) as including the personal representative of a deceased nominee.

Transfer of property.

5.—(1) Any transfer order requiring or approving the transfer of property whether real or personal (including choses-in-action) by the Original Company to the New Company or any agreement or deed made under such order shall not require registration under or in pursuance of the Registration of Deeds Act, 1707, the Registration of Title Act, 1964, section 99 of the Companies Act, 1963, or any other Act, but shall operate for the purposes of those Acts as if the transfer were made by deed duly registered on the transfer date under or in pursuance of whichever of those Acts may be applicable thereto, and subject where necessary to a transfer in the books of any bank, corporation or company, the property so transferred shall become the property of or be held in trust for and be vested in the New Company for all the estate, term or interest for which the same immediately before such transfer was vested in or belonged to or was held in trust for the Original Company but subject to all trusts and equities affecting the same and then subsisting and capable of being performed.

(2) A transfer order referred to in subsection (1) of this section shall within fourteen days after the date thereof, or within such extended time as may be allowed by the Court, be advertised by the petitioner in the Iris Oifigiúil, and once in two daily newspapers circulating throughout the State or in such other newspapers as the Court may direct.

(3) Notwithstanding the provisions of subsection (1) of this section, any transfer order or any agreement or deed made under such order may, at the option of the New Company, be registered pursuant to the provisions of the Registration of Deeds Act, 1707, the Registration of Title Act, 1964, section 99 of the Companies Act, 1963, or any other Act.

Transfer of employees, etc.

6.—(1) Every person who immediately before the transfer date was an employee of the Original Company shall, on the said date, become an employee of the New Company with the same rights and subject to the same obligations and incidents in the New Company as he was subject to or enjoyed in the Original Company.

(2) Every person who is a member of or entitled to benefit under a pension or superannuation scheme of the Original Company shall, with effect from the transfer date, become a member of or be entitled to the corresponding benefit under a corresponding pension or superannuation scheme established in respect of the New Company on terms not less favourable than those under the first mentioned scheme.

(3) Any benefit payable under a pension or superannuation scheme of the Original Company to the personal representative (in his capacity as personal representative) of a deceased person formerly employed in the business of the Original Company and remaining unpaid on the transfer date shall become and be payable on that date under a corresponding pension or superannuation scheme of the New Company.

(4) Service or employment with the Original Company shall, for the purpose of ascertaining and calculating the right to benefit under any such corresponding scheme, be taken into account as if it were service or employment with the New Company but the transfer of service or employment from the Original Company to the New Company shall not, of itself, give rise to any claim to benefit under any such scheme.

(5) At the request of either the Original Company or the New Company or both, the Court may include in a transfer order as it thinks appropriate such provision for transferring the whole or any part of the property and assets of any pension or superannuation scheme of the Original Company to a corresponding pension or superannuation scheme in respect of the New Company vesting it in the trustees or other persons charged with the administration of such corresponding scheme and for winding-up, dissolving or terminating any such scheme of the Original Company and the scheme shall have effect in accordance with any such provisions, any such scheme of the Original Company being wound-up, dissolved or terminated, as the case may be.

(6) Notwithstanding the provisions of the Perpetual Funds (Registration) Act, 1933, the Irish Life Staff Pension Scheme (as set forth in a deed dated the 28th day of October, 1941, as purported to be varied by a draft deed of variation notified to the Registrar of Friendly Societies) shall have effect as if it had been registered in accordance with the provisions of the said Act on the 1st day of June, 1979.

(7) In this section:

“benefit” means any pension, annuity, lump sum, gratuity or other like payment given on retirement or payable after retirement in respect of past service or on or in connection with death during service or after retirement;

“pension or superannuation scheme of the Original Company” means a scheme, arrangement or fund established in connection with the business of the Original Company for the provision of benefit for the employees of the Original Company or their dependants on their retirement or death.

Application of certain instruments.

7.—(1) Where—

(a) the business in respect of which a transfer order has been made consists of or includes the business of acting as trustee or in any other fiduciary capacity, and

(b) the Original Company was appointed as trustee or in any other fiduciary capacity by an instrument consisting of a trust deed, settlement, covenant or agreement,

such instrument shall, on and from the transfer date, be construed and have effect as if for any reference therein to the Original Company there were substituted a reference to the New Company.

(2) References to the Original Company contained, immediately before the transfer date, in any order made under section 2 (1) of the Trustee (Authorised Investments) Act, 1958, shall be construed on and after the transfer date as references to the New Company.

Relief in respect of stamp duties, etc.

8.—(1) Section 12 of the Finance Act, 1895, shall not apply to the vesting in the New Company of any property of the Original Company by virtue of a transfer order.

(2) Stamp duty shall not be charged on any agreement, transfer, conveyance, assignment or lease whereby the business assets or liabilities of the Original Company are transferred or agreed to be transferred, in whole or in part, to the New Company.

Power to hold shares.

9.—(1) Notwithstanding anything contained in sections 32 and 60 of the Companies Act, 1963, and subject to subsection (2) of this section, it shall be lawful for an assurance company incorporated in the State to subscribe for or purchase and to hold any class of shares in its holding company out of the assets of its life assurance fund: provided that—

(a) the shares of such class in that company subscribed for, purchased or held are listed on a recognised stock exchange, and

(b) the total number of shares of any one class so held shall not at any one time exceed 10 per cent. of the shares in such class issued or allotted or of the voting rights attaching to that class of shares.

(2) The Minister for Industry and Commerce may attach such requirements to, or impose such restrictions on, the exercise of the power in this section as he sees fit in the interests of the prudent regulation of life assurance in the State.

(3) The Minister for Industry and Commerce may, by order, after consultation with the Minister, amend or vary the percentage referred to in subsection (1) of this section.

(4) An order under this section may make such transitional or temporary provisions in relation to the acquisition or disposal of the relevant shares as the Minister for Industry and Commerce sees fit to enable the order to have full effect.

(5) In this section—

“assurance company” means a company which is the holder of an authorisation under the European Communities (Life Assurance) Regulations, 1984 (S. I. No. 57 of 1984);

“holding company” has the meaning assigned to it by section 155 of the Companies Act, 1963;

“life assurance fund” means the total fund of assets maintained by a life assurance company in respect of its life assurance business, not being shareholders' assets.

Repeals.

10.—(1) Each enactment mentioned in the second column of—

(a) Part I of the Schedule to this Act may be repealed by order made by the Minister as on and from such date and to the extent specified in the said order, and

(b) Part II of the Schedule to this Act may be repealed by order made by the Minister as on and from such date specified in the order and to the extent specified in the third column of the said Schedule.

(2) The Minister shall consult with the Minister for Industry and Commerce before making an order under this section.

Laying of orders before Houses of Oireachtas.

11.—Every order made under this Act (other than an order under section 12 of this Act) shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the order is passed by either such House within the next 21 days on which that House has sat after the order is laid before it, the order shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

Short title, collective citation and commencement.

12.—(1) This Act may be cited as the Insurance Act, 1990.

(2) The Insurance Acts, 1909 to 1989, and this Act may be cited as the Insurance Acts, 1909 to 1990.

(3) This Act shall come into operation on such day or days as may be appointed by order or orders of the Minister, either generally or with reference to a particular purpose or provision, and different days may be so appointed for different purposes and different provisions of this Act.

SCHEDULE

Repeals of Enactments

Section 10 (1).

Part I

Part II

Uimhir 26 de 1990

AN tACHT ÁRACHAIS, 1990

RIAR NA nALT

Uimhir 26 de 1990

AN tACHT ÁRACHAIS, 1990

[An tiontú oifigiúil]

ACHT DO LEASÚ NA nACHTANNA ÁRACHAIS, 1909 GO 1989, AGUS DO DHÉANAMH SOCRÚ I dTAOBH NITHE COMHGHAOLMHARA. [25 Iúil, 1990]

ACHTAÍTEAR AG AN OIREACHTAS MAR A LEANAS:

Léiriú.

1.—San Acht seo—

ciallaíonn “an Chúirt” an Ard-Chúirt;

tá le “fochuideachta” an bhrí a shanntar dó le hAcht na gCuideachtaí, 1963;

ciallaíonn “an Chuideachta Shealbhaíochta” cuideachta ar fochuideachta di an Chuideachta Bhunaidh nó an Chuideachta Nua;

ciallaíonn “an tAire” an tAire Airgeadais;

ciallaíonn “an Chuideachta Nua” fochuideachta don Chuideachta Shealbhaíochta a bhféadfar gnó na Cuideachta Bunaidh a aistriú chuici le hordú aistrithe;

ciallaíonn “an Chuideachta Bhunaidh” Cuideachta Árachais Bheatha na hÉireann cpt;

ciallaíonn “dáta an aistrithe” an dáta a shonrófar in ordú aistrithe chun gnó árachais na Cuideachta Bunaidh a aistriú chuig an gCuideachta Nua;

ciallaíonn “ordú aistrithe” ordú (lena n-áirítear ordú forlíontach) arna dhéanamh ag an gCúirt faoi alt 13 den Assurance Companies Act, 1909.

Scaireanna a fháil i gCuideachta Shealbhaíochta.

2.—(1) Is dleathach don Aire—

(a) aon scaireanna de chuid na Cuideachta Bunaidh atá dílsithe dó nó dá ainmnithigh de thuras na huaire a mhalartú ar scaireanna sa Chuideachta Shealbhaíochta, agus

(b) aon scair nó scaireanna sa Chuideachta Shealbhaíochta a fháil trí shuibscríobh, ceannach, caipitliú, eisiúint nó ar shlí eile.

(2) Féadfaidh an tAire, fad is cuí leis, na scaireanna sa Chuideachta Shealbhaíochta atá dílsithe dó nó dá ainmnithigh de thuras na huaire a shealbhú agus féadfaidh sé na scaireanna sin go léir nó aon scair díobh a dhíol, a mhalartú nó a dhiúscairt, trí fhuascailt nó ar shlí eile, má mheasann sé gurb iomchuí déanamh amhlaidh.

(3) Déanfar gach suim a éileoidh an tAire ó am go ham le go bhfaighidh sé scaireanna sa Chuideachta Shealbhaíochta a airleacan as an bPríomh-Chiste nó a thoradh fáis.

(4) Déanfar gach díbhinn agus airgead eile a gheobhaidh an tAire i leith scaireanna sa Chuideachta Shealbhaíochta agus gach suim a íocfar leis i gcomaoin na scaireanna sin a dhíol nó a dhiúscairt aige a íoc isteach sa Státchiste nó a dhiúscairt chun tairbhe don Státchiste.

(5) Má dhiúscraíonn an tAire aon scaireanna sa Chuideachta Shealbhaíochta ar dhóigh seachas trí dhíol, ansin déanfar fáltais na diúscartha sin a theachtadh ar iontaobhas chun tairbhe don Státchiste go dtí go réadóidh sé fáltais a dhiúscartha agus déanfar na fáltais arna réadú amhlaidh a íoc isteach sa Státchiste nó a dhiúscairt chun tairbhe don Státchiste.

Cearta an Aire mar shealbhóir scaireanna.

3.—(1) Féadfaidh an tAire, maidir le scaireanna na Cuideachta Sealbhaíochta atá dílsithe dó nó leithroinnte air, na cearta agus na cumhachtaí go léir atá ag sealbhóir nó leithroinní na scaireanna sin a fheidhmiú agus, i gcás ceart nó cumhacht a bheith infheidhmithe trí aturnae nó seachvótálaí, an ceart nó an chumhacht sin a fheidhmiú trí aturnae nó seachvótálaí a bheidh ceaptha aige.

(2) Féadfaidh an tAire, nó a ainmnithigh, ar ordú ón Aire, an ceart chun aon scaireanna sa Chuideachta Shealbhaíochta a thréigean agus déileálfar, chun críocha an Achta seo, le haon suimeanna a bheidh íoctha leis an Aire nó lena ainmnithigh i gcomaoin an tréigin sin sa tslí chéanna a ndéileáiltear le suimeanna a íoctar leis an Aire nó lena ainmnithigh i gcomaoin scaireanna a dhíol.

Scaireanna arna sealbhú ag ainmnithigh.

4.—(1) Faoi réir alt 3 (2) den Acht seo, gach scáin de chuid na Cuideachta Sealbhaíochta atá le leithroinnt nó le haistriú chuig an Aire nó a ainmnithigh leithroinnfear nó aistreofar í chuig an Aire nó, de réir mar a ordóidh an tAire, chuig duine (dá ngairtear ainmnitheach san alt seo) a bheidh ainmnithe chuige sin ag an Aire agus féadfar daoine éagsúla a ainmniú amhlaidh maidir le scaireanna éagsúla.

(2) Beidh feidhm ag na forálacha seo a leanas agus beidh éifeacht leo maidir le scaireanna uile na Cuideachta Sealbhaíochta atá de thuras na huaire in ainm ainmnithigh don Aire, is é sin le rá:

(a) is dleathach don Aire—

(i) na scaireanna go léir nó aon scair de na scaireanna sin a aistriú chuig duine eile a bheidh roghnaithe ag an Aire chun na scaireanna a aistrítear amhlaidh a shealbhú mar ainmnitheach dó;

(ii) a ordú d'ainmnitheach na scaireanna go léir de chuid na Cuideachta Sealbhaíochta, nó aon scair díobh, a bheidh dílsithe dó de thuras na huaire mar ainmnitheach den sórt sin a dhíol, a mhalartú nó a dhiúscairt thairis sin;

(iii) a ordú d'ainmnitheach na scaireanna go léir de chuid na Cuideachta Sealbhaíochta, nó aon scair díobh, a bheidh dílsithe dó de thuras na huaire mar ainmnitheach den sórt sin a aistriú chuig an Aire nó (de réir mar a bheidh sonraithe san ordú sin) chuig duine eile a bheidh roghnaithe ag an Aire chun na scaireanna sin a shealbhú mar ainmnitheach dó;

(b) déanfaidh gach ainmnitheach na scaireanna go léir de chuid na Cuideachta Sealbhaíochta nó aon scaireanna díobh a bheidh dílsithe dó de thuras na huaire mar ainmnitheach den sórt sin a shealbhú ar iontaobhas don Aire agus déanfaidh sé na scaireanna sin a dhíol, a mhalartú nó a dhiúscairt thairis sin i cibé slí a ordóidh an tAire ó am go ham i scríbhinn;

(c) gach ordú a thabharfaidh an tAire faoin bhfo-alt seo is údarás agus urscaoileadh maith agus dleathach é don ainmnitheach dá dtabharfar é le haghaidh gach ní a dhéanfaidh sé dá réir agus ní bheidh an t-ainmnitheach sin i dteideal, ná ní cúram dó, a fhiafraí cibé acu a tugadh an t-ordú sin go dleathach nó nár tugadh;

(d) gníomhóidh gach ainmnitheach go huile agus go hiomlán de réir orduithe an Aire nuair a bheidh sé ag feidhmiú ceart agus cumhachtaí is infheidhmithe i leith scaireanna na Cuideachta Sealbhaíochta a bheidh dílsithe dó de thuras na huaire mar ainmnitheach den sórt sin;

(e) íocfaidh gach ainmnitheach isteach sa Státchiste, i cibé slí a ordóidh an tAire, gach díbhinn agus airgead eile a gheobhaidh sé i leith scaireanna na Cuideachta Sealbhaíochta a bheidh dílsithe dó de thuras na huaire mar ainmnitheach den sórt sin, agus freisin na fáltais as aon scaireanna den sórt sin a dhíolfaidh sé.

(3) Beidh feidhm ag an alt seo maidir le hionadaí pearsanta ainmnithigh éagtha sa tslí chéanna a mbeidh feidhm aige maidir le hainmnitheach beo agus dá réir sin forléireofar an focal “ainmnitheach” san alt seo (cibé áit a gceadaítear sin sa chomhthéacs) mar fhocal a fholaíonn ionadaí pearsanta ainmnithigh éagtha.

Maoin a aistriú.

5.—(1) Ní gá aon ordú aistrithe lena n-éilítear nó lena gceadaítear maoin a aistriú bíodh sí réadach nó pearsanta (lena n-áirítear ábhair i gcaingean) ag an gCuideachta Bhunaidh chuig an gCuideachta Nua nó aon chomhaontú nó gníomhas a dhéanfar faoin ordú sin a chlárú faoi réim nó de bhun an Registration of Deeds Act, 1707, an Achta um Chlárú Teidil, 1964, alt 99 d'Acht na gCuideachtaí, 1963, nó aon Achta eile, ach oibreoidh sé chun críocha na nAchtanna sin amhail is dá mbeadh an t-aistriú déanta trí ghníomhas arna chlárú go cuí ar dháta an aistrithe faoi réim nó de bhun cibé ceann de na hAchtanna sin a bheidh infheidhme maidir leis, agus faoi réir a aistrithe, i gcás ar gá sin, i leabhair aon bhainc, corparáide nó cuideachta, tiocfaidh an mhaoin a aistreofar amhlaidh chun bheith ina maoin de chuid na Cuideachta Nua nó beidh sí ar teachtadh ar iontaobhas agus dílsithe don chuideachta sin go feadh an eastáit, an téarma nó an leasa uile ar a raibh an céanna, díreach roimh an aistriú sin, dílsithe don Chuideachta Bhunaidh nó dá cuid féin aici nó ar teachtadh ar iontaobhas di, ach sin faoi réir na n-iontaobhas agus na gcothromas go léir a dhéanann difear don chéanna agus a bhí ann agus infheidhmithe an tráth sin.

(2) Déanfaidh an t-achainíoch, laistigh de cheithre lá dhéag tar éis dháta an ordaithe nó laistigh de cibé am fadaithe a cheadóidh an Chúirt, ordú aistrithe dá dtagraítear i bhfo-alt (1) den alt seo a fhógairt san Iris Oifigiúil agus uair amháin in dhá nuachtán laethúla a léitear ar fud an Stáit nó i cibé nuachtáin eile a ordóidh an Chúirt.

(3) D'ainneoin fhorálacha fho-alt (1) den alt seo, féadfar, de réir mar is rogha leis an gCuideachta Nua, aon ordú aistrithe nó aon chomhaontú nó gníomhas a dhéanfar faoi ordú den sórt sin, a chlárú de bhun fhorálacha an Registration of Deeds Act, 1707, an Achta um Chlárú Teidil, 1964, alt 99 d'Acht na gCuideachtaí, 1963, nó aon Achta eile.

Fostaithe a aistriú, etc.

6.—(1) Gach duine a bhí, díreach roimh dháta an aistrithe, ina fhostaí de chuid na Cuideachta Bunaidh tiocfaidh sé ar an dáta sin chun bheith ina fhostaí den Chuideachta Nua agus beidh na cearta céanna aige agus beidh sé faoi réir na n-oibleagáidí agus na dteagmhas céanna sa Chuideachta Nua a raibh sé faoina réir nó a bhí á dteachtadh aige sa Chuideachta Bhunaidh.

(2) Gach duine is comhalta de scéim pinsean nó aoisliúntas de chuid na Cuideachta Bunaidh nó atá i dteideal sochar a fháil faoin gcéanna tiocfaidh sé, le héifeacht ó dháta an aistrithe, chun bheith ina chomhalta de scéim pinsean nó aoisliúntas comhréireach nó beidh sé i dteideal an tsochair chomhréirigh faoin scéim sin ar scéim í a bheidh bunaithe i leith na Cuideachta Nua ar théarmaí nach lú fabhar ná na téarmaí faoin scéim chéadluaite.

(3) Aon sochar is iníoctha faoi scéim pinsean nó aoisliúntas de chuid na Cuideachta Bunaidh le hionadaí pearsanta (ina cháil mar ionadaí pearsanta) duine éagtha a bhí fostaithe roimhe sin i ngnó na Cuideachta Bunaidh agus a bheidh gan íoc dáta an aistrithe, tiocfaidh sé chun bheith agus beidh sé iníoctha an dáta sin faoi scéim pinsean nó aoisliúntas comhréireach de chuid na Cuideachta Nua.

(4) Déanfar seirbhís nó fostaíocht leis an gCuideachta Bhunaidh, d'fhonn an ceart chun sochair faoi aon scéim chomhréireach den sórt sin a fhionnadh agus a ríomh, a chur san áireamh amhail is dá mba sheirbhís nó fostaíocht í leis an gCuideachta Nua ach ní bheidh aistriú seirbhíse nó fostaíochta ón gCuideachta Bhunaidh go dtí an Chuideachta Nua, ann féin, ina chúis le haon éileamh ar shochar faoi aon scéim den sórt sin.

(5) Ar iarraidh ón gCuideachta Bhunaidh nó ón gCuideachta Nua, nó uathu araon, féadfaidh an Chúirt, de réir mar is cuí léi, cibé foráil a áireamh in ordú aistrithe chun an mhaoin agus na sócmhainní go léir d'aon scéim pinsean nó aoisliúntas de chuid na Cuideachta Bunaidh, nó chun aon chuid díobh, a aistriú go dtí scéim pinsean nó aoisliúntas comhréireach i leith na Cuideachta Nua á ndílsiú do na hiontaobhaithe nó do na daoine eile a bhfuil sé de chúram orthu an scéim chomhréireach sin a riaradh agus chun aon scéim den sórt sin de chuid na Cuideachta Bunaidh a fhoirceannadh, a dhíscaoileadh nó a thabhairt chun críche agus beidh éifeacht leis an scéim de réir aon fhorálacha den sórt sin, ar aon scéim den sórt sin de chuid na Cuideachta Bunaidh a fhoirceannadh, a dhíscaoileadh nó a thabhairt chun críche, de réir mar a bheidh.

(6) D'ainneoin fhorálacha an Achta Síor-Chistí (Clárú), 1933, beidh éifeacht leis an Scéim Pinsean d'Fhoireann Irish Life (mar atá leagtha amach i ngníomhas arna dhátú an 28ú lá de Dheireadh Fómhair, 1941, mar a airbheartaítear a bheith athraithe le dréachtghníomhas athrúcháin a cuireadh in iúl do Chláraitheoir na gCara-Chumann) amhail is dá mbeadh sí cláraithe de réir fhorálacha an Achta sin an lú lá de Mheitheamh, 1979.

(7) San alt seo:

ciallaíonn “sochar” aon phinsean, blianacht, cnapshuim, aisce nó íocaíocht eile dá samhail a thugtar ar scor nó is iníoctha tar éis scoir i leith seirbhíse san am atá caite nó ar bhás a fháil nó i dtaca le bás a fháil le linn seirbhíse nó tar éis scoir;

ciallaíonn “scéim pinsean nó aoisliúntas de chuid na Cuideachta Bunaidh” scéim, comhshocraíocht nó ciste a bunaíodh i dtaca le gnó na Cuideachta Bunaidh chun sochar a chur ar fáil d'fhostaithe na Cuideachta Bunaidh nó dá gcleithiúnaithe ar scor nó ar bhás dóibh.

Feidhm ionstraimí áirithe.

7.—(1) I gcás—

(a) gurb éard é an gnó a bhfuil ordú aistrithe déanta ina leith nó go n-áirítear ann gnó ag gníomhú mar iontaobhaí nó in aon cháil mhuiníneach eile, agus

(b) gur ceapadh an Chuideachta Bhunaidh mar iontaobhaí nó in aon cháil mhuiníneach eile le hionstraim arb éard í gníomhas iontaobhais, socraíocht, cúnant nó comhaontú,

forléireofar an ionstraim sin, ar dháta an aistrithe agus ón dáta sin amach, agus beidh éifeacht léi amhail is dá gcuirfí tagairt don Chuideachta Nua in ionad aon tagartha inti don Chuideachta Bhunaidh.

(2) Déanfar tagairtí don Chuideachta Bhunaidh atá le fáil, díreach roimh dháta an aistrithe, in aon ordú a rinneadh faoi alt 2 (1) den Acht Iontaobhaithe (Infheistíochtaí Údaraithe), 1958, a fhorléiriú ar dháta an aistrithe agus ón dáta sin amach mar thagairtí don Chuideachta Nua.

Faoiseamh i leith dleachtanna stampa, etc.

8.—(1) Ní bheidh feidhm ag alt 12 den Finance Act, 1895, maidir le haon mhaoin de, chuid na Cuideachta Bunaidh a dhílsiú don Chuideachta Nua de bhua ordaithe aistrithe.

(2) Ní mhuirearófar dleacht stampa ar aon chomhaontú, aistriú, tíolacas, sannadh nó léas trína n-aistrítear sócmhainní nó dliteanais ghnó na Cuideachta Bunaidh nó trína gcomhaontaítear iad a aistriú go hiomlán nó go páirteach go dtí an Chuideachta Nua.

Cumhacht chun scaireanna a shealbhú.

9.—(1) D'ainneoin aon ní in ailt 32 agus 60 d'Acht na gCuideachtaí, 1963, agus faoi réir fho-alt (2) den alt seo, is dleathach do chuideachta árachais atá corpraithe sa Stát suibscríobh le haghaidh aon aicme scaireanna ina cuideachta shealbhaíochta nó an aicme scaireanna sin a cheannach agus iad a shealbhú, as sócmhainní a ciste árachais saoil: ar choinníoll—

(a) maidir leis na scaireanna den aicme sin sa chuideachta sin ar suibscríobhadh lena n-aghaidh, a ceannaíodh nó a sealbhaíodh, go mbeidh siad liostaithe ar stocmhalartán aitheanta, agus

(b) nach mbeidh an líon iomlán scaireanna d'aon aicme amháin a shealbhaítear amhlaidh níos mó ag aon am ar bith ná 10 faoin gcéad de na scaireanna san aicme sin a bheidh eisithe nó leithroinnte ná de na cearta vótála a ghabhann leis an aicme scaireanna sin.

(2) Féadfaidh an tAire Tionscail agus Tráchtála cibé ceanglais a chur ag gabháil le feidhmiú na cumhachta san alt seo, nó cibé srianta a chur leis an bhfeidhmiú sin, is cuí leis ar mhaithe le hárachas saoil sa Stát a rialáil go stuama.

(3) Féadfaidh an tAire Tionscail agus Tráchtála, le hordú, tar éis dul i gcomhairle leis an Aire, an céatadán dá dtagraítear i bhfo-alt (1) den alt seo a leasú nó a athrú.

(4) Féadfaidh ordú faoin alt seo cibé forálacha idirthréimhseacha nó sealadacha i ndáil le fáil nó diúscairt na scaireanna iomchuí a dhéanamh is cuí leis an Aire Tionscail agus Tráchtála chun lánéifeacht a bheith leis an ordú.

(5) San alt seo—

ciallaíonn “cuideachta árachais” cuideachta is sealbhóir ar údarú faoi Rialacháin na gComhphobal Eorpach (Árachas Saoil), 1984 (I.R. Uimh. 57 de 1984); tá le “cuideachta shealbhaíochta” an bhrí a shanntar dó le halt 155 d'Acht na gCuideachtaí, 1963;

ciallaíonn “ciste árachais saoil” an ciste iomlán sócmhainní a choimeádann cuideachta árachais saoil maidir lena gnó árachais saoil nach sócmhainní scairshealbhóirí iad.

Aisghairm.

10.—(1) Maidir le gach achtachán—

(a) a luaitear sa dara colún de Chuid I den Sceideal a ghabhann leis an Acht seo, féadfar é a aisghairm le hordú arna dhéanamh ag an Aire amhail ar agus ó cibé dáta agus a mhéid a bheidh sonraithe san ordú sin, agus

(b) a luaitear sa dara colún de Chuid II den Sceideal a ghabhann leis an Acht seo, féadfar é a aisghairm le hordú arna dhéanamh ag an Aire amhail ar agus ó cibé dáta a bheidh sonraithe san ordú agus a mhéid a bheidh sonraithe sa tríú colún den Sceideal sin.

(2) Rachaidh an tAire i gcomhairle leis an Aire Tionscail agus Tráchtála sula ndéanfaidh sé ordú faoin alt seo.

Orduithe a leagan faoi bhráid Thithe an Oireachtais.

11.—Gach ordú a dhéanfar faoin Acht seo (seachas ordú faoi alt 12 den Acht seo) leagfar é faoi bhráid gach Tí den Oireachtas a luaithe is féidir tar éis a dhéanta agus má dhéanann ceachtar Teach acu sin, laistigh den 21 lá a shuífidh an Teach sin tar éis an t-ordú a leagan faoina bhráid, rún a rith ag neamhniú an ordaithe, beidh an t-ordú ar neamhní dá réir sin, ach sin gan dochar do bhailíocht aon ní a rinneadh roimhe sin faoin ordú.

Gearrtheideal, comhlua agus tosach feidhme.

12.—(1) Féadfar an tAcht Árachais, 1990, a ghairm den Acht seo.

(2) Féadfar na hAchtanna Árachais, 1909 go 1990, a ghairm de na hAchtanna Árachais, 1909 go 1989, agus den Acht seo.

(3) Tiocfaidh an tAcht seo i ngníomh cibé lá nó laethanta a cheapfar le hordú nó le horduithe ón Aire, go ginearálta nó faoi threoir críche nó forála áirithe agus féadfar laethanta éagsúla a cheapadh amhlaidh chun críocha éagsúla agus le haghaidh forálacha éagsúla den Acht seo.

AN SCEIDEAL

Na hAchtacháin a Aisghairtear

Alt 10 (1).

Cuid I

Cuid II