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

[F1 Notification of insolvency events, confirmation of scheme status etc. U.K.

15.— (1) Section 120 of the Act (duty to notify insolvency events in respect of employers) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if—

(a) for subsection (1), there were substituted the following subsection—

“(1) This section applies where, in the case of a section of a multi-employer scheme which is divided into two or more sections (“a segregated scheme”) with at least two employers in relation to that section of the scheme (“a multi-employer section”), an insolvency event occurs in relation to any employer in relation to that section.”; and

(b) after subsection (2), there were inserted the following subsection—

“(2A) Where the trustees or managers of a multi-employer section of a segregated scheme receive a notice from an insolvency practitioner under subsection (2), they must send a copy of that notice as soon as practicable to all the employers in relation to that section of the scheme and to the trustees or managers of each section of the scheme (if different).”.

(2) Section 122 of the Act (insolvency practitioner’s duty to issue notices confirming status of scheme) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if—

(a) for subsection (1), there were substituted the following subsection—

“(1) This section applies where an insolvency event has occurred in relation to any employer in relation to a multi-employer section of a segregated scheme.”;

(b) in subsection (2)—

(i) for the words “the employer”, there were substituted the words “an employer”;

(ii) in paragraph (a), after the words “a scheme rescue is not possible”, there were inserted the words “in relation to the relevant section of the scheme”; and

(iii) in paragraph (b), after the words “a scheme rescue has occurred”, there were inserted the words “in relation to the relevant section of the scheme”;

(c) in paragraph (a) of subsection (3), for the words “the employer”, there were substituted the words “an employer”;

(d) in subsection (4)—

(i) for the words “the employer”, there were substituted the words “an employer”; and

(ii) for the words “in relation to the scheme”, there were substituted the words “in relation to the section”;

(e) in subsection (5)—

(i) in paragraph (a), for the words “in relation to an occupational pension scheme”, there were substituted the words “in relation to a multi-employer section of a segregated scheme”; and

(ii) in paragraph (b), for the words “in relation to such a scheme”, there were substituted the words “in relation to such a section”;

(f) in subsection (6), for the words “the employer”, there were substituted the words “an employer”; and

(g) after subsection (6), there were inserted the following subsection—

“(6A) Where the trustees or managers of a multi-employer section of a segregated scheme receive a notice issued by an insolvency practitioner or former insolvency practitioner under subsection (6), they must send a copy of that notice as soon as practicable to all the employers in relation to that section of the scheme and to the trustees or managers of each section of the scheme (if different).”.

(3) Section 123 of the Act (approval of notices issued under section 122) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if—

F2 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) for subsection (2), there were substituted the following subsection—

“(2) The Board must determine whether to approve the section 122 notice received in relation to that employer.”; and

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

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

(4) Section 124 of the Act (Board’s duty where there is a failure to comply with section 122) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if—

(a) in subsection (1)—

(i) for the words “This section applies where in relation to an occupational pension scheme”, there were substituted the words “This section applies where in relation to a multi-employer section of a segregated scheme”; and

(ii) in paragraphs (a) and (b), for the words “the employer”, there were substituted the words “an employer”;

(b) in subsection (4)—

(i) in paragraph (d), for the words “the employer”, there were substituted the words “an employer”; and

(ii) in paragraph (e), for the words “in relation to the employer, the employer”, there were substituted the words “in relation to an employer, that employer”; and

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

“(4A) Where the trustees or managers of a multi-employer section of a segregated scheme receive a copy of a notice issued by the Board under section 122 by virtue of this section, they must send a copy of that notice as soon as practicable to all the employers in relation to that section of the scheme and to the trustees or managers of each section of the scheme (if different).”.

(5) Section 125 of the Act (binding notices confirming status of scheme) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if, after subsection (3), there were inserted the following subsection—

“(3A) Where the trustees or managers of a multi-employer section of a segregated scheme receive a notice from the Board under subsection (3) 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 all the employers in relation to that section of the scheme and to the trustees or managers of each section of the scheme (if different).”.]

Textual Amendments

F1 Pt. 3 substituted (1.8.2005) by The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2005 (S.I. 2005/2113), regs. 1(2), 10(3)

F2 Reg. 15(3)(a) omitted (6.4.2008) by virtue of The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2008 (S.I. 2008/731), regs. 2(1), 17 (with reg. 2(3)-(8))