The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 and shall come into force—

(a) for the purposes of this regulation and regulations 2(2)(b), 3(2)(d), 5(2)(d), 9(1)(a) and (2)(a), 14(3)(b), 15(2)(e), 18(c), 24(1)(a) and (2)(a), 28(4)(b), 29(2)(d), 32(d), 38(1)(d)(i), 39(1)(a) and (2)(a), 45(4)(b), 46(2)(d), 49(d), 54(1)(d)(i), 55(1)(a) and (2)(a), 63(1) and 73(3) for the purpose only of the making of regulations on 9th March 2005; and

(b) for the purposes of regulation 76, on whichever is the later of—

(i) the day which is 21 days after the date on which this instrument is laid, or

(ii) the day on which section 286 of the Pensions Act 2004 comes into force;

(c) for the purposes of regulations 4, 16, 30, 47, 63(2), 73(2)(b) and 74(2) on 1st April 2005; and

(d) for all other purposes on 6th April 2005.

(2) In these Regulations—

“the Act” means the Pensions Act 2004;

“multi-employer section” means a section of a segregated scheme which has at least two employers in relation to that section;

“pensionable service” has the meaning given by section 70(2) of the Pension Schemes Act 1993(1) (interpretation); and

“segregated scheme” means a multi-employer scheme which is divided into two or more sections where—

(a)

any contributions payable to the scheme by an employer in relation to the scheme or by a member are allocated to that employer’s or that member’s section; and

(b)

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

(3) In the application of Part 2 of the Act and of these Regulations to a multi-employer scheme, or a section of a multi-employer scheme, “employer” includes—

(a) in the case of a scheme which has no active members, every person who was the employer of persons in the description or category of employment to which the scheme, or section, relates immediately before the time at which the scheme, or section, ceased to have any active members in relation to it unless, after that time—

(i) a debt under section 75 of the Pensions Act 1995(2) (deficiencies in the assets) becomes due from that person to the scheme, or section; and

(ii) either—

(aa) the full amount of the debt has been paid by that person to the trustees or managers of the scheme, or section, or

(bb) in circumstances where a legally enforceable agreement has been entered into between that person and the trustees or managers of the scheme, or section, the effect of which is to reduce the amount which is payable in respect of the debt, the reduced amount of the debt has been paid in full by that person to those trustees or managers; and

(b) in any other case, any person who has ceased to be the employer of persons in the description or category of employment to which the scheme, or section, relates unless—

(i) at the time when he so ceased, the scheme, or section, was not being wound up and continued to have active members in relation to it; and

(ii) a debt under section 75 of the Pensions Act 1995 became due at that time from that person to the scheme or section and either—

(aa) the full amount of the debt has been paid by that person to the trustees or managers of the scheme, or section, or

(bb) in circumstances where a legally enforceable agreement has been entered into between that person and the trustees or managers of the scheme, or section, the effect of which is to reduce the amount which is payable in respect of the debt, the reduced amount of the debt has been paid in full by that person to those trustees or managers.

(1)

1993 c. 48.

(2)

1995 c. 26.