TITLE IGENERAL PROVISIONS

Article 2Scope

1.

This Directive shall apply to IORPs. Where, in accordance with national law, IORPs do not have legal personality, Member States shall apply this Directive either to those IORPs or, subject to paragraph 2, to those authorised entities responsible for operating them and acting on their behalf.

2.

This Directive shall not apply to:

(a)

institutions operating social security schemes which are covered by Regulations (EC) No 883/20049 and (EC) No 987/200910 of the European Parliament and of the Council;

(b)

institutions which are covered by Directives 2009/65/EC11, 2009/138/EC, 2011/61/EU12, 2013/36/EU13 and 2014/65/EU14 of the European Parliament and of the Council;

(c)

institutions which operate on a pay-as-you-go basis;

(d)

institutions where employees of the sponsoring undertaking have no legal rights to benefits and where the sponsoring undertaking can redeem the assets at any time and not necessarily meet its obligations for payment of retirement benefits;

(e)

companies using book-reserve schemes with a view to paying out retirement benefits to their employees.