Amendment of LRT pension schemes
2(1)In the case of any LRT pension scheme, the provision that may be made by order under section 411(1) of this Act includes provision for or in connection with—
(a)the allocation of assets, rights, liabilities or obligations between different sections of the scheme;
(b)securing that the scheme continues to be approved for the purposes of the relevant enactments, notwithstanding any transfers made by or under this Act or any qualifying transaction.
(2)In sub-paragraph (1) above—
“qualifying transaction” means any relevant transaction, within the meaning of paragraph 3 below, as a result of which a person is or becomes a protected person for the purposes of that paragraph;
“the relevant enactments” means—
(a)Chapter I of Part XIV of the [1988 c. 1.] Income and Corporation Taxes Act 1988 (retirement benefit schemes); and
(b)Part III of the [1993 c. 48.] Pension Schemes Act 1993, so far as relating to occupational pension schemes.