The Occupational Pension Schemes (Schemes that were Contracted-out) (No.2) Regulations 2015

Contributions equivalent premiums: prescribed person in Northern Ireland

36.—(1) For the purposes of section 51(2) of the 1993 (NI) Act(1) (which requires the prescribed person to pay a contributions equivalent premium in the case mentioned in section 51(2B) of that Act and enables them to elect to do so in certain other cases) the prescribed person is—

(a) in a case where a transfer has been made in relation to a scheme under Article 145 of the 2005 Order (effect of the Board assuming responsibility for a scheme), the Board of the Pension Protection Fund (as defined in that Order(2)); and

(b) in all other cases, the trustees of the scheme.

(2) Where, in accordance with paragraph (1)(a), the prescribed person is the Board of the Pension Protection Fund, regulations 37 to 42 apply with the following modifications—

(a) except in regulation 40(1), references to “the trustees of the scheme”, “the trustees” or “the trustees of a scheme” are to be read as references to “the Board of the Pension Protection Fund”; and

(b) references to “the resources of the scheme” are to be read as references to “the Pension Protection Fund”, being the Pension Protection Fund specified in section 173(1) of the 2004 Act.

(1)

Section 51 is repealed by paragraph 37 of Schedule 13 to the 2015 (NI) Act, but is saved for certain purposes.

(2)

See Article 2(2).