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The Pensions (Northern Ireland) Order 2005
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Changes over time for: Section 168
Changes to legislation:
The Pensions (Northern Ireland) Order 2005, Section 168 is up to date with all changes known to be in force on or before 29 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Article 168:
- Sch. 6 para. 21(2)(c)-(cc) substituted for (b)(c) by 2008 c. 13 (N.I.) Sch. 6 para. 11
- art. 2(4)(b)(viii)-(x) inserted by 2016 c. 1 (N.I.) Sch. 2 para. 21(3)(b)
- art. 19(1A) inserted by 2016 c. 1 (N.I.) Sch. 2 para. 24(3)
- art. 19(10A) inserted by 2016 c. 1 (N.I.) Sch. 2 para. 24(5)
- art. 34(1)-(1B) substituted for art. 34(1) by 2016 c. 1 (N.I.) Sch. 2 para. 25
- art. 34(7)(da) inserted by 2021 c. 1 Sch. 8 para. 3(2)
- art. 39(1)-(1B) substituted for art. 39(1) by 2016 c. 1 (N.I.) Sch. 2 para. 26(2)
- art. 48(1)-(1B) substituted for art. 48(1) by 2016 c. 1 (N.I.) Sch. 2 para. 27
- art. 75(1)(a)(iib) inserted by 2021 c. 1 Sch. 8 para. 8(2)
- art. 110(1)-(1B) substituted for art. 110(1) by 2016 c. 1 (N.I.) Sch. 2 para. 29
- art.168(5)(d) applied (with modifications) by S.R. 2023/148 reg. 23(2)(a)(v)(bb)
- art. 191(5) added by 2008 c. 13 (N.I.) Sch. 9 para. 6
Changes and effects yet to be applied to the whole Order associated Parts and Chapters:
Whole provisions yet to be inserted into this Order (including any effects on those provisions):
- Sch. 6 para. 21(2)(c)-(cc) substituted for (b)(c) by 2008 c. 13 (N.I.) Sch. 6 para. 11
- art. 2(4)(b)(viii)-(x) inserted by 2016 c. 1 (N.I.) Sch. 2 para. 21(3)(b)
- art. 19(1A) inserted by 2016 c. 1 (N.I.) Sch. 2 para. 24(3)
- art. 19(10A) inserted by 2016 c. 1 (N.I.) Sch. 2 para. 24(5)
- art. 34(1)-(1B) substituted for art. 34(1) by 2016 c. 1 (N.I.) Sch. 2 para. 25
- art. 34(7)(da) inserted by 2021 c. 1 Sch. 8 para. 3(2)
- art. 39(1)-(1B) substituted for art. 39(1) by 2016 c. 1 (N.I.) Sch. 2 para. 26(2)
- art. 48(1)-(1B) substituted for art. 48(1) by 2016 c. 1 (N.I.) Sch. 2 para. 27
- art. 75(1)(a)(iib) inserted by 2021 c. 1 Sch. 8 para. 8(2)
- art. 110(1)-(1B) substituted for art. 110(1) by 2016 c. 1 (N.I.) Sch. 2 para. 29
- art. 191(5) added by 2008 c. 13 (N.I.) Sch. 9 para. 6
Fraud compensation paymentsN.I.
This section has no associated Explanatory Memorandum
168.—(1) Where the Board determines to make one or more fraud compensation payments, it must make the payment or payments to the trustees or managers of the scheme in accordance with this Article.
(2) A fraud compensation payment may be made on such terms (including terms requiring repayment in whole or in part) and on such conditions as the Board considers appropriate.
F1(3) The amount of the payment (or, if there is more than one, the aggregate) must not exceed the difference between—
(a)the amount of the reduction (or, if more than one, the aggregate amount of the reductions) within Article 165(1)(b), and
(b)the amount of any recoveries of value obtained before the settlement date (within the meaning of Article 167(2)).
(4) Subject to paragraph (3), the Board—
(a)must determine the amount of any fraud compensation payment in accordance with regulations made for the purposes of this paragraph, and
(b)must take account of any interim payment already made under Article 169.
(5) The Board must give written notice of its determination under paragraph (4) to—
(a)the Regulator,
(b)the trustees or managers of the scheme,
(c)if the trustees or managers did not make the application under Article 165 (fraud compensation payments), the person who made that application, and
F1(d )any insolvency practitioner in relation to the employer or, if there is no such insolvency practitioner, the employer.F1
F1mod. by SR 2005/381
Modifications etc. (not altering text)
C1Art. 168 modified (3.10.2022) by The Occupational Pension Schemes (Master Trusts) (No. 2) Regulations (Northern Ireland) 2022 (S.R. 2022/234), regs. 1, 23(2)(a)
C2Art. 168(5) modified (6.4.2022) by The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2022 (revoked) 2022 (S.R. 2022/121), regs. 1, 23(2)(a)(v)
C3Art. 168(5)(c)(d) modified (1.4.2023) by The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2023 (S.R. 2023/59), regs. 1, 23(2)(a)(v)(aa)(bb)
C4Art. 168(5)(c) applied (with modifications) (29.9.2023) by The Occupational Pension Schemes (Master Trusts) (No. 2) Regulations (Northern Ireland) 2023 (S.R. 2023/148), regs. 1, 23(2)(a)(v)(aa)
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