Jersey Law 13/1994

PUBLIC EMPLOYEES (RETIREMENT) (AMENDMENT No. 4) (JERSEY) LAW 1994

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A LAW   to amend further the Public Employees (Retirement) (Jersey) Law 1967 sanctioned by Order of Her Majesty in Council of the

13th day of APRIL 1994

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(Registered on the 27th day of May 1994)

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STATES OF JERSEY

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The 12th day of October 1993

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THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law –

ARTICLE 1

In Article 2 of the Public Employees (Retirement) (Jersey) Law 1967,1 as amended2 (hereinafter referred to as “the principal Law”) –

(a)     in sub-paragraph (da) of paragraph (2) after the words “the scheme” there shall be inserted the words “including the management, investment and application of the fund”;

(b)     after paragraph (2) there shall be inserted the following paragraph –

“(3)      Where a scheme provides for the setting up of a Committee of Management, it may make provision for that Committee to delegate all or any of the powers, authorities or discretion conferred upon it by this Law or by Regulations made thereunder:

Provided that a scheme shall not make provision for a Committee of Management to delegate any power, authority or discretion relating to the investment of the fund without the consent of the Finance and Economics Committee.”.

ARTICLE 2

In Article 3 of the principal Law3 –

(a)     sub-paragraph (d) of paragraph (1) shall be deleted;

(b)     in sub-paragraph (e) of paragraph (2) for the word “approve” there shall be substituted the words “by Regulations provide”.

ARTICLE 3

This Law may be cited as the Public Employees (Retirement) (Amendment No. 4) (Jersey) Law 1994.

G.H.C. COPPOCK

Greffier of the States.