Schedule 3

THIRD SCHEDULESection 20(2)Pension schemes

1. No assurance on the life of any contributor under any pension scheme established under section 20, and no moneys or other benefits payable under any such assurance, and no payment made under any such scheme to any person who has been employed by the Council, is assignable or transferable, or liable to be garnished, attached, sequestered or levied upon for or in respect of any debt or claim other than a debt due to the Council or to the Government.

2. No donation by the Council or contribution by its employees made under any pension scheme established under section 20 and no interest thereon is assignable or transferable or liable to be garnished, attached, sequestered or levied upon for or in respect of any debt or claim other than a debt due to the Council or to the Government.

3. No such donation, contribution or interest paid under a pension scheme established under section 20 is subject to the debts of the contributor, nor may such donation, contribution or interest pass to the Official Assignee on the bankruptcy of the contributor, but, if the contributor is adjudicated a bankrupt or is declared insolvent by a court, such donation, contribution or interest is, subject to the provisions of this Act, deemed to be subject to a trust in favour of the persons entitled to such donation, contribution or interest on the death of the contributor.

4. The bankruptcy of a contributor does not affect the making of deductions from the salary of the contributor in accordance with any pension scheme established under section 20, but the deductions must continue to be made despite the provisions of any written law, and the portion of salary so deducted is not to be deemed to form part of the contributor’s after‑acquired property.

5. Subject to the provisions of any pension scheme established under section 20, all moneys paid or payable under any such scheme on the death of a contributor is deemed to be subject to a trust in favour of the persons entitled to such moneys under the will or intestacy of the deceased contributor, or under a nomination in such form as may be prescribed in such scheme, and is not to be deemed to form part of the contributor’s estate or subject to the payment of the contributor’s debts but is deemed to be property passing on the contributor’s death for the purposes of the Estate Duty Act 1929.

6. Any contributor may, by a memorandum under his or her hand, appoint a trustee or trustees of the moneys payable on the contributor’s death out of any pension scheme established under section 20 and may make provision for the appointment of a new trustee or new trustees of the moneys and for the investment of the moneys; the memorandum must be in the form prescribed in such scheme and must be deposited with the Council.

7. If, at the time of the death of any contributor or at any time afterwards, there is no trustee of the moneys or it is expedient to appoint a new trustee or new trustees, then and in any such case a trustee or trustees or a new trustee or new trustees may be appointed by the Supreme Court.

8. The receipt of a trustee or trustees duly appointed, or in default of any such appointment and of written notice of the appointment to the Council, the receipt of the legal personal representative of a deceased contributor is a discharge to the Council for any moneys payable on the contributor’s death out of any such scheme.