PART I.

Preliminary and General.

1. —This Act may be cited as the Great Southern Railways Company (Superannuation Scheme) Act, 1947.

2. —In this Act—

the expression “the Company” means Córas Iompair Éireann;

the expression “the Corporation” means the Railway Clearing System Superannuation Fund Corporation;

the expression “the new Fund” means the Fund established by the new superannuation scheme;

the expression “the new superannuation scheme” means the scheme, a copy whereof is set out in the Schedule to this Act;

the expression “the old Fund” means the Fund of the Corporation;

the expression “the proposed British Bill” means a Bill, proposed to be promoted by the Corporation in the Parliament of the United Kingdom of Great Britain and Northern Ireland, providing (amongst other matters) for the transfer to the trustees of the new Fund of all the assets of the Corporation comprised in Section C and Section D of the old Fund, less the sum of £751 16s. 10d. (seven hundred and fifty-one pounds, sixteen shillings and ten pence), being an amount bearing the same proportion of the total expenses borne by the Corporation in connection with the re-organisation of the old Fund under the Railway Clearing System Superannuation Fund Act, 1941, as the membership (contributing and superannuated members) relating to the former Great Southern Railways Company bore to the total membership (contributing and superannuated members) of the old Fund as at the 30th day of June, 1941.

3. —The Company shall pay to the Corporation a sum equal to the costs and expenses incurred by the Corporation in connection with the proposed British Bill, whether the said Bill is enacted or not.

4. —(1) Part II of this Act shall not come into operation unless and until the proposed British Bill has been enacted.

(2) If the proposed British Bill is enacted on or before the date of the passing of this Act, Part II of this Act shall come into operation on the day which is three months after the date of the passing of this Act.

(3) If the proposed British Bill is enacted after the date of the passing of this Act, Part II of this Act shall come into operation on the day which is three months after the date of the enactment of the proposed British Bill.