The Occupational Pension Schemes (Winding up, etc.) Regulations (Northern Ireland) 2005

Discharge of liabilities during assessment period

10.—(1) This regulation applies in any case where any liability of a scheme in respect of a member has been discharged by virtue of regulations under Article 119(4) of the 2005 Order (power to make regulations permitting discharge of scheme’s liabilities during an assessment period).

(2) Articles 73 to 73B of the 1995 Order (except Article 73B(4)(b)(iii)) apply as if references to liabilities did not include the discharged liability.

(3) Article 74(2) and (4) of the 1995 Order(1) applies as if the trustees or managers of the scheme had –

(a) in accordance with arrangements prescribed under Article 74(2) of that Order, provided for the discharge of the discharged liability in one or more of the ways mentioned in Article 74(3) of that Order; and

(b) applied any amount available to them in accordance with Article 73 of that Order in one or more of those ways.

(1)

Article 74(2) and (4) is amended by Article 247(2)(b) of, and Schedule 11 to, the Pensions (Northern Ireland) Order 2005