TT-Line Arrangements Act 1993
25APayments by Company
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25A Payments by Company
[Section 25A Inserted by No. 40 of 1996, s. 3 and Sched. 1 ]
(1) The Company must pay the following amounts into the Public Account in the manner, and at the times, determined by the Minister administering the Retirement Benefits Act 1993 :
(a) an amount, determined by the Actuary in relation to each transferred (RBF) TT-Line employee who between 1 November 1993 and 1 February 1994 elected to continue as a contributor, to be the aggregate accrued employer liability relating to that transferred employee under the Retirement Benefits Act 1993 as at 31 December 1995;
(b) an amount, determined by the Actuary in relation to each transferred (SAF) TT-Line employee who is an eligible employee within the meaning of the Retirement Benefits Act 1993 , to be the aggregate accrued employer liability relating to that transferred employee under the Retirement Benefits Act 1993 as at 31 December 1995;
(c) an amount which is determined by the Actuary in relation to each retired TT-Line employee and which, in the opinion of the Actuary, is the commuted value of the employer's share of all pension payments or other benefits that will be payable in respect of that employee under the Retirement Benefits Act 1993 on and after 31 December 1995.
(2) Subsection (1) does not apply with respect to any funds already paid to the RBF Board under section 29E of the Retirement Benefits Act 1982 .
(3) In relation to a transferred (RBF) TT-Line employee who between 1 November 1993 and 1 February 1994 elected to continue as a contributor, the Company must pay into the Public Account at fortnightly intervals, commencing on the first payday after 31 December 1995, an amount determined by the Actuary to be the aggregate accruing liability relating to that transferred employee under the Retirement Benefits Act 1993 .