Search Legislation

The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2005

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)
 Help about opening options

Opening Options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Amendment of the definition of “employer” in relation to a multi-employer scheme or a section of a multi-employer scheme

This section has no associated Explanatory Memorandum

6.—(1) For the second definition of “employer” (“employer” in relation to a multi-employer scheme or a section of a multi-employer scheme) in each of the provisions specified in paragraph (2), substitute—

“employer”, in relation to a non-segregated scheme or a multi-employer section of a segregated scheme—

(a)

in an assessment period, includes any person who before the assessment date has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)

condition A is that a debt under section 75 of the Pensions Act 1995(1) (deficiencies in the assets) became due from that employer and the full amount of the debt has been paid before the assessment date;

(ii)

condition B is that—

(aa)

such a debt became due;

(bb)

a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)

the reduced amount has been paid in full before the assessment date;

(iii)

condition C is that such a debt became due but before the assessment date it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)

condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due;

(b)

in any other case, includes any person who has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)

condition A is that a debt under section 75 of the Pensions Act 1995 became due from that employer and the full amount of the debt has been paid;

(ii)

condition B is that—

(aa)

such a debt became due;

(bb)

a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)

the reduced amount has been paid in full;

(iii)

condition C is that such a debt became due but it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)

condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due;.

(2) The specified provisions are—

(a)paragraph (2) of regulation 1 of the Compensation Regulations; and

(b)paragraph (2) of regulation 1 of the Review and Reconsideration Regulations.

(3) For paragraph (5) of regulation 1 of the Entry Rules Regulations, substitute—

(5) In these Regulations, “employer”, in relation to a non-segregated scheme or a multi-employer section of a segregated scheme—

(a)in an assessment period, includes any person who before the assessment date has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)condition A is that a debt under section 75 of the 1995 Act became due from that employer and the full amount of the debt has been paid before the assessment date;

(ii)condition B is that—

(aa)such a debt became due;

(bb)a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)the reduced amount has been paid in full before the assessment date;

(iii)condition C is that such a debt became due but before the assessment date it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due;

(b)in any other case, includes any person who has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)condition A is that a debt under section 75 of the 1995 Act became due from that employer and the full amount of the debt has been paid;

(ii)condition B is that—

(aa)such a debt became due;

(bb)a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)the reduced amount has been paid in full;

(iii)condition C is that such a debt became due but it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due..

(4) For paragraph (3) of regulation 2 of the Provision of Information Regulations, substitute—

(3) In these Regulations, “employer”, in relation to a non-segregated scheme or a multi-employer section of a segregated scheme—

(a)in an assessment period, includes any person who before the assessment date has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)condition A is that a debt under section 75 of the Pensions Act 1995 became due from that employer and the full amount of the debt has been paid before the assessment date;

(ii)condition B is that—

(aa)such a debt became due;

(bb)a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)the reduced amount has been paid in full before the assessment date;

(iii)condition C is that such a debt became due but before the assessment date it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due;

(b)in any other case, includes any person who has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)condition A is that a debt under section 75 of the Pensions Act 1995 became due from that employer and the full amount of the debt has been paid;

(ii)condition B is that—

(aa)such a debt became due;

(bb)a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)the reduced amount has been paid in full;

(iii)condition C is that such a debt became due but it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due..

(5) For the second definition of “employer” in paragraph (2) of regulation 1 of the Valuation Regulations, substitute—

“employer”, in relation to a non-segregated scheme or a multi-employer section of a segregated scheme—

(a)

in an assessment period, includes any person who before the assessment date has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)

condition A is that a section 75 debt became due from that employer and the full amount of the debt has been paid before the assessment date;

(ii)

condition B is that—

(aa)

such a debt became due;

(bb)

a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)

the reduced amount has been paid in full before the assessment date;

(iii)

condition C is that such a debt became due but before the assessment date it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)

condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due;

(b)

in any other case, includes any person who has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)

condition A is that a section 75 debt became due from that employer and the full amount of the debt has been paid;

(ii)

condition B is that—

(aa)

such a debt became due;

(bb)

a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)

the reduced amount has been paid in full;

(iii)

condition C is that such a debt became due but it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)

condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due;.

(1)

Section 75 was amended by section 271 of the Pensions Act 2004.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources