Explanatory Note
(This note is not part of the Regulations)
These Regulations make provision in relation to member-nominated trustees and directors under Articles 218 and 219 of the Pensions (Northern Ireland) Order 2005 (“the Order”).
Regulation 1 provides for citation, commencement and interpretation.
Regulation 2 prescribes the types of scheme where the minimum proportion of member-nominated trustees specified Article 218(1) of the Order is not required.
Regulation 3 prescribes the types of scheme where the minimum proportion of member-nominated directors set out under Article 219(1) of the Order is not required.
Regulation 4 makes transitional provision in respect of schemes which had existing arrangements approved under Article 17 or 19 of the Pensions (Northern Ireland) Order 1995 prior to the repeal of those Articles.
Regulation 5 modifies the provisions of Articles 218 and 219 of the Order in respect of schemes whose existing scheme rules require a higher proportion of trustees or directors to be member-nominated. It also provides for transitional provisions for schemes that were exempted under the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations (Northern Ireland) 1996.
Regulation 6 makes consequential revocations.
The Pensions (2005 Order) (Commencement No. 6) Order (Northern Ireland) 2005 (S.R. 2005 No. 411 (C. 32)) provides for the coming into operation of some of the enabling provisions under which these Regulations are made as follows—
Articles 218(8)(c) and 219(10), for the purpose only of authorising the making of regulations, on 1st November 2005 and for all other purposes on 6th April 2006, and
Article 220(2) on 1st November 2005.
As these Regulations are made before the end of the period of six months beginning with the coming into operation of the provisions of the Order by virtue of which they are made, the requirement to consult under Article 289(1) of the Order does not apply by virtue of paragraph (2)(c) of that Article.