The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012

Amendment of the Pension Protection Fund (Entry Rules) Regulations 2005

3.—(1) Regulation 24 of the Pension Protection Fund (Entry Rules) Regulations 2005(1) is amended as follows.

(2) For paragraph (1)(a) substitute—

“(a) either–

(i) a protected benefits quotation in relation to the scheme, or

(ii) written evidence which shows that the trustees or managers of the scheme have taken all reasonable steps to obtain a protected benefits quotation but were unable to do so, and”.

(3) In paragraph (2)—

(a) in sub-paragraph (f), after “binding valuation notice” insert “under section 145(3) or a binding determination notice under section 143A(4)”; and

(b) in sub-paragraphs (h) and (i), insert at the beginning “where the application is accompanied by a protected benefits quotation,”.

(1)

S.I. 2005/590, amended by S.I. 2005/993; there are other amending instruments but none is relevant.