- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/09/2021)
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Pension Schemes Act 2021
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Rhagor o Adnoddau
Changes over time for: Section 5
Version Superseded: 01/08/2022
Alternative versions:
- 11/02/2021- Amendment
- 01/09/2021
Point in time - 01/08/2022- Amendment
Status:
Point in time view as at 01/09/2021. This version of this provision has been superseded.
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5Schemes divided into sectionsE+W+S
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adran has no associated
Nodiadau Esboniadol
(1)The Secretary of State may by regulations make provision about when a pension scheme is or is not divided into sections for the purposes of this Part.
(2)The Secretary of State may by regulations provide that, where a collective money purchase scheme that is not divided into sections (an “undivided scheme”) becomes a collective money purchase scheme that is divided into sections, an authorisation previously granted in respect of the undivided scheme applies to any of those sections that—
(a)is a collective money purchase scheme by reason of section 1(2)(b), and
(b)satisfies conditions specified in the regulations.
(3)For the purposes of this Part, where—
(a)a qualifying scheme is divided into sections, and
(b)each of those sections is a collective money purchase scheme by reason of section 1(2)(b),
the qualifying scheme (taken as a whole) is to be treated as if it were not a collective money purchase scheme.
(4)Regulations under subsection (1) are subject to negative resolution procedure.
(5)Regulations under subsection (2) are subject to affirmative resolution procedure.
Commencement Information
I1S. 5 in force at Royal Assent for specified purposes, see s. 131(3)(a)
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