C1C3C2 PART IIITHE BOARD OF THE PENSION PROTECTION FUND
Pt. III amendment to earlier affecting provision S.R. 2005/91 (23.7.2012) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2012 (S.R. 2012/270), regs. 1, 2
Pt. III modified by S.R. 2005/55 (as amended) (30.4.2013) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2013 (S.R. 2013/95), regs. 1(2), 3
C3CHAPTER 3PENSION PROTECTION
Discharge of Board's liabilities
Discharge of liabilities in respect of money purchase benefits154
1 F1
This paragraph applies where—
a
the Board assumes responsibility for an eligible scheme in accordance with this Chapter, and
b
one or more members are entitled, or have accrued rights, under the scheme rules to money purchase benefits.
2
Regulations must make provision in respect of cases to which paragraph (1) applies requiring the Board to secure that liabilities in respect of such benefits transferred to the Board under Article 145 are discharged by it in the prescribed manner.
F23
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
In this Article—
“accrued rights”, under the scheme rules, include pension credit rights within the meaning of Article 121(1) of the 1995 Order;
F3...
Pt. III (arts. 101-199) applied by S.R. 2005/55, reg. 2A (as inserted (8.3.2010) by Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/32), reg. 2(4))