The Occupational Pension Schemes (Employer Debt, etc.) (Amendment) Regulations (Northern Ireland) 2005

Contents

1Citation, commencement and interpretation#

(1)These Regulations may be cited as the Occupational Pension Schemes (Employer Debt, etc.) (Amendment) Regulations (Northern Ireland) 2005 and shall come into operation on 2nd September 2005.

(2)Regulation 2(1), (2), (5) and (8) does not apply if the employment-cessation event occurs before that date.

(3)Regulation 2(1) and (7) does not apply if the applicable time is before that date.

(4)In these Regulations—• “the Order” means the Pensions (Northern Ireland) Order 2005;• “the 2005 Regulations” means the Occupational Pension Schemes (Employer Debt) Regulations (Northern Ireland) 2005;• “the applicable time” has the same meaning as in regulation 2(1) of the 2005 Regulations;• “employment-cessation event” has the meaning given in regulation 6(4) of the 2005 Regulations.

2Amendment of the 2005 Regulations#

(1)The 2005 Regulations shall be amended in accordance with paragraphs (2) to (8).

(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)In regulation 4(1) (schemes to which Article 75 does not apply) sub-paragraph (k) and the word “or” immediately preceding it shall be omitted.

(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7)In regulation 10 (money purchase schemes: fraud and levy deficiencies etc.), as it applies by virtue of regulation 12 of the 2005 Regulations (multi-employer money purchase schemes), in paragraph (1A)(a) for “the actuary” there shall be substituted “the trustees or managers”.

(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3The Pension Regulator’s functions under the 2005 Regulations#

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4Amendment of the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations#

In regulation 6(1)(b) of the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations (Northern Ireland) 1996 (excluded assets) for “, 60(5) or 75(1)” there shall be substituted “or 60(5) or under Article 75(1), as it has effect before 6th April 2005, or under Article 75(2) or (4), as it has effect on or after that date”.

5Amendment of the Pension Protection Fund (Entry Rules) Regulations#

In regulation 16(1)(a)(ii) of the Pension Protection Fund (Entry Rules) Regulations (Northern Ireland) 2005 (restrictions on winding up, discharge of liabilities etc.) for “section 90(1)(a)” there shall be substituted “section 90(1)(aa)”.

6Amendment of the Pensions Regulator (Financial Support Directions, etc.) Regulations#

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Schedule · Schedules to be inserted in the 2005 regulations

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