The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations (Northern Ireland) 2010

Amendment of the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations

2.  In regulation 1(3) of the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations (Northern Ireland) 2005(1) (interpretation)—

(a) in sub-paragraphs (a) and (b) for “C or D” substitute “C, D or E”;

(b) in sub-paragraph (a) after head (iv) add—

“(v) condition E is that—

(aa) there is a restructuring within regulation 6ZB or 6ZC(2) of the Occupational Pension Schemes (Employer Debt) Regulations (Northern Ireland) 2005 (employment-cessation events: exemptions);

(bb) in that restructuring, the employer was the exiting employer for the purposes of those Regulations (see the definition of “exiting employer” in regulation 2(3A)(3) of those Regulations), and

(cc) regulation 6ZA(3) or (4) of those Regulations (employment-cessation events: general) does not apply in relation to that restructuring;”;

(c) in sub-paragraph (b) after head (iv) add—

“(v) condition E is that—

(aa) there is a restructuring within regulation 6ZB or 6ZC of the Occupational Pension Schemes (Employer Debt) Regulations (Northern Ireland) 2005;

(bb) in that restructuring, the employer was the exiting employer for the purposes of those Regulations (see the definition of “exiting employer” in regulation 2(3A) of those Regulations), and

(cc) regulation 6ZA(3) or (4) of those Regulations does not apply in relation to that restructuring.”.

(1)

S.R. 2005 No. 91; regulation 1(3) was substituted by regulation 3(2)(b) of S.R. 2005 No. 357

(2)

Regulations 6ZA to 6ZD are inserted by regulation 7 of these Regulations

(3)

Regulation 2(3A) is inserted by regulation 4(b) of these Regulations