The Occupational Pension Schemes (Pension Protection Levies) (Transitional Period and Modification for Multi-employer Schemes) Regulations (Northern Ireland) 2006

Modification of Article 158 for the financial year beginning on 1st April 2006: segregated schemes

3.—(1) This regulation applies to a segregated scheme for the financial year beginning on 1st April 2006.

(2) In the case of a segregated scheme to which this regulation applies—

(a) Article 158(1) (pension protection levies) shall have effect as if each section of the scheme were a separate scheme, and

(b) references in Article 158(1) to “eligible schemes” shall be read as if they were references to sections of a scheme in circumstances where those sections, if they were schemes, would not be—

(i) money purchase schemes;

(ii) schemes which are schemes prescribed or schemes of a description prescribed by virtue of regulations(2) made under Article 110(1)(b) (eligible schemes);

(iii) schemes to which Article 110(2) applies, or

(iv) schemes which are not eligible schemes by virtue of regulations made under Article 110(5).

(1)

Article 158 is modified in relation to segregated schemes by regulation 73, in relation to non-segregated schemes by regulation 74, and in relation to multi-employer sections of segregated schemes by regulation 75, of S.R. 2005 No. 91

(2)

The regulations made under Article 110(1)(b) and (5) are S.R 2005 No. 126 as amended by S.R. 2005 Nos. 194, 357, 364 and 387