Regulatory Alerts2019-01-01
Private Pension Schemes (Body of Persons) Rules 2019
The Financial Services Commission issued these rules to explicitly classify protected cell companies as eligible bodies of persons under the Private Pension Schemes Act 2012. The regulations incorporate these entities into existing pension frameworks, subject to the restrictions outlined in the Protected Cell Companies Act 1999. The instrument was executed on 18 October 2019 and commenced operations on 16 November 2019.
Government Notices 2019 2305 OliImac2/Govt Notices/FSC/1_The Private Pension Schemes (Body of Persons) Rules 2019 - 2nd Proof 14/11/19 Government Notice No. 248 of 2019 THE PRIVATE PENSION SCHEMES ACT 2012 FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007 and sections 8, 17(1)(b), 27 and 50(1) of the Private Pension Schemes Act 2012
- These Rules may be cited as the Private Pension Schemes (Body of Persons) Rules 2019.
- In these Rules, “protected cell company” has the same meaning as in the Protected Cell Companies Act 1999.
- Subject to such restrictions provided under the Protected Cell Companies Act, a body of persons referred to in section 8(1)(a) of the Private Pension Schemes Act shall include a protected cell company.
- These Rules shall come into operation on 16 November 2019. Made by the Financial Services Commission on 18 October