The Occupational Pension Schemes (Scheme Funding) Regulations 2005

Schemes covering United Kingdom and foreign employment

4.—(1) This paragraph applies in the cases described in sub-paragraphs (2) and (3).

(2) The first case referred to in sub-paragraph (1) is where a scheme—

(a) has its main administration in the United Kingdom;

(b) applies to members in employment in the member States and members in employment outside the member States;

(c) is divided into two or more sections, and

(d) makes provision whereby—

(i) different sections of the scheme apply to members in employment in the member States and to members in employment outside the member States;

(ii) contributions payable to the scheme in respect of a member are allocated to the section applying to that member’s employment, and

(iii) a specified part or proportion of the assets of the scheme is attributable to each section and cannot be used for the purposes of any other section.

(3) The second case referred to in sub-paragraph (1) is where a scheme—

(a) has its main administration outside the member States;

(b) applies to members in employment in the United Kingdom and members in employment outside the United Kingdom;

(c) is divided into two or more sections, and

(d) makes provision whereby—

(i) different sections of the scheme apply to members in employment in the United Kingdom and to members in employment outside the United Kingdom;

(ii) contributions payable to the scheme in respect of a member are allocated to the section applying to that member’s employment, and

(iii) a specified part or proportion of the assets of the scheme is attributable to each section and cannot be used for the purposes of any other section.

(4) Where this paragraph applies, Part 3 of the 2004 Act and these Regulations shall apply as if each section of the scheme were a separate scheme.

5.—(1) This paragraph applies in the case described in sub-paragraph (2).

(2) The case referred to in sub-paragraph (1) is where a scheme either—

(a) satisfies the criteria in sub-paragraphs (a) and (b) of paragraph 4(2), but is not divided into sections in the manner described in sub-paragraphs (c) and (d) of that paragraph, or

(b) satisfies the criteria in sub-paragraphs (a) and (b) of paragraph 4(3), but is not divided into sections in the manner described in sub-paragraphs (c) and (d) of that paragraph,

and part of the scheme is or was treated as a separate scheme under section 611(3) of the Income and Corporation Taxes Act 1988(1).

(3) Where this paragraph applies, Part 3 of the 2004 Act and these Regulations shall apply as if the separated parts of the scheme were separate schemes.

(1)

1988 c. 1; section 611 is repealed by Part 3 of Schedule 42 to the Finance Act 2004 with effect from 6th April 2006.