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

Board’s duty where application or notification received under section 129

32.  Section 130 of the Act (Board’s duty where application or notification received under section 129) shall be modified in its application to a segregated part to which regulation 28 applies so that it shall be read as if—

(a) after the words “a scheme rescue is not possible” in subsection (2), there were inserted the words “in relation to a segregated part of a multi-employer section of a segregated scheme”;

(b) after the words “a scheme rescue has occurred” in subsection (3), there were inserted the words “in relation to that segregated part”;

(c) after subsection (4), there were inserted the following subsection—

“(4A) Where the trustees or managers of a segregated part of a multi-employer section of a segregated scheme receive a copy of a notice from the Board under subsection (4), they must send a copy of that notice as soon as practicable to the trustees or managers of each section of the scheme (if different) and to all the employers in relation to the scheme.”;

(d) for the words “in relation to an occupational pension scheme” in paragraphs (a) and (b) of subsection (5), there were substituted the words “in relation to a segregated part of a multi-employer section of a segregated scheme”; and

(e) after subsection (7), there were inserted the following subsection—

“(7A) Where the trustees or managers of a segregated part of a multi-employer section of a segregated scheme receive a notice from the Board under subsection (7) together with a copy of the binding notice, they must send a copy of the notice and the binding notice as soon as practicable to the trustees or managers of each section of the scheme (if different) and to all the employers in relation to the scheme.”.