Modification of Chapter where liabilities discharged during assessment periodN.I.
This section has no associated Explanatory Memorandum
151.—(1) Regulations may modify any of the provisions of this Chapter as it applies to cases—
(a)where any liability to provide pensions or other benefits to or in respect of any member or members under a scheme is discharged during an assessment period in relation to the scheme by virtue of—
(i)regulations under Article 119(4), or
(ii)the Board validating any action mentioned in Article 119(9), or
(b)where, in prescribed circumstances, any such liability of a prescribed description is discharged on the assessment date but before the commencement of the assessment period.
(2) In this Article “assessment date” is to be construed in accordance with Schedule 6.