This is the original version (as it was originally made).
7.—(1) This regulation shall apply where –
(a)Article 75 applies with the modifications referred to in regulation 6, and
(b)the amount of the liabilities of a scheme immediately before an employment-cessation event is being determined in order to determine whether a debt is to be treated as due from the employer under Article 75(4).
(2) Regulation 5 shall apply –
(a)with the omission of paragraphs (1)(a) and (2) and the references to those provisions in paragraph (1)(b), (c) and (d) (by virtue of which liabilities for pensions and other benefits are to be valued on the assumption that they will be discharged by the purchase of annuities), and
(b)with the omission of paragraph (3).
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