The Financial Assistance Scheme (Qualifying Pension Scheme Amendments) Regulations 2014

Amendment of the Financial Assistance Scheme Regulations 2005

2.—(1) Regulation 9 (qualifying pension schemes) of the Financial Assistance Scheme Regulations 2005(1) is amended in accordance with paragraphs (2) and (3).

(2) In paragraph (1)(b) after “paragraph (1B)” insert “or (1D)”.

(3) After paragraph (1C) insert—

“(1D) This paragraph applies where—

(a) the scheme began to wind up during the period beginning on 23rd December 2008 and ending with the day before the day on which the Financial Assistance Scheme (Qualifying Pension Scheme Amendments) Regulations 2014 come into force;

(b) paragraph (i) or (ii) of paragraph (1)(c) applies by virtue of an insolvency event which occurred before 6th April 2005;

(c) there has not been an insolvency event in relation to the relevant employer which would be a qualifying insolvency event for the purposes of section 127 or Article 111 (duty to assume responsibility for schemes following insolvency event) if the scheme were an eligible scheme; and

(d) the relevant employer ceased to be an employer in relation to the scheme prior to 10th June 2011.

(1E) In paragraph (1D), “relevant employer” means the person who employed persons in the description or category of employment to which the scheme relates or related immediately before the time at which the scheme ceased to have any active members.

(1F) Where a scheme is a qualifying pension scheme for the purposes of these Regulations by virtue of paragraph (1D), that scheme is not an eligible scheme for the purposes of section 126(1)(b) or, as the case may be, Article 110(1)(b) (eligible schemes).”.

(1)

S.I. 2005/1986. Regulation 9 was amended by 2007/3581, 2008/1903 and 2008/3069.