The Occupational and Personal Pension Schemes (Amendment etc.) (Northern Ireland) (EU Exit) Regulations 2019

Amendment of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005

25.—(1) The Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005(1) are amended as follows.

(2) In regulation 1(2)—

(a) in the definition of “qualifying insurance policy”, omit paragraph (b) and the “or” before it;

(b) omit the definition of “scheme undertaking cross-border activities”.

(3) In regulation 4(11)—

(a) in the definition of “derivative instrument”, for the words from “of Section C” to “financial instruments” substitute “of Part 1 of Schedule 2 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(2)”;

(b) in the definition of “regulated market”—

(i) omit paragraph (a);

(ii) for paragraph (b) substitute the following—

“(b) a UK regulated market or an EU regulated market within the meaning of Article 2.1.13A and 2.1.13B respectively of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments, or”.

(4) In regulation 15A, omit paragraph (2)(b) but not the “or” following it.

(5) Omit regulation 17.

(1)

S.R. 2005 No. 569; amended by S.R. 2009 No. 115, S.R. 2010 No. 287, S.I. 2013/472 and S.I. 2017/1255; there are other amending instruments but none is relevant.

(2)

S.I. 2001/544; amended by S.I. 2006/3384 and S.I. 2017/488; there are other amending instruments but none is relevant.