[F167FThe reporting requirementU.K.
(1)For the purposes of section 67(2)(c), the reporting requirement is satisfied in relation to the exercise of a power to which the subsisting rights provisions apply to make a regulated modification if the trustees have, in accordance with subsection (2)—
(a)notified each affected member in whose case the consent requirements apply in respect of the modification, and
(b)taken all reasonable steps to notify each affected member in whose case the actuarial equivalence requirements apply in respect of the modification,
that they have made a determination, or given their consent, for the purposes of section 67E(1) in relation to the exercise of the power to make the modification.
(2)The trustees must give (or, where the actuarial equivalence requirements apply, take all reasonable steps to give) the notification—
(a)within a reasonable period beginning with the date of the determination or giving of consent mentioned in subsection (1), and
(b)before the date on which the modification takes effect.]
Textual Amendments
F1Ss. 67-67I substituted for s. 67 (1.11.2005 for specified purposes, 6.4.2006 in so far as not already in force) by Pensions Act 2004 (c. 35), ss. 262, 322(1) (with s. 313); S.I. 2005/2447, art. 2(5)(a)(b), Sch. Pt. 2