The Occupational Pension Schemes (Payments to Employers) Regulations (Northern Ireland) 1997

Modification of schemes

11.  For the purposes of Article 69 (grounds for applying for modifications)—

(a) a further requirement prescribed for the purposes of Article 69(3)(a) (which provides for modification of schemes for the purpose of reducing or eliminating a surplus) is that the second notice referred to in regulation 4 also advises the member of the requirement for an order under that Article;

(b) the prescribed requirements referred to in Article 69(3)(b) (which provides for modification of schemes for the purposes of distributing excess assets on winding up) are—

(i) any requirements under Article 76(3) or (4) or regulation 7 which must be satisfied before a power to distribute assets to the employer on a winding up can be exercised;

(ii) a requirement that the trustees are satisfied that any proposal to distribute excess assets to the employer is in the interests of the members; and

(iii) a requirement that the second notice referred to in regulation 7 also advises the member of the requirement for an order under Article 69(3)(b) and both the first and second notices referred to in that regulation also advise the member of the requirement referred to in sub-paragraph (ii).