The Pensions Regulator (Notifiable Events) Regulations (Northern Ireland) 2005

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Pensions Regulator (Notifiable Events) Regulations (Northern Ireland) 2005 and shall come into operation on 6th April 2005.

(2) In these Regulations –

“the Order” means the Pensions (Northern Ireland) Order 2005;

“business” includes trade or profession;

“control” has the meaning ascribed to it in Article 4(10) of the Insolvency Order (“associate”), and “controlling company” is to be construed accordingly;

“debt” includes a contingent debt;

“director” has the meaning given to it in Article 9 of the Companies Order(1) (“director” and “shadow director”);

“key employer posts” means the Chief Executive and any director or partner responsible in whole or in part for the financial affairs of the employer;

“key scheme posts” means the auditor and the actuary appointed to a scheme under Article 47(1) of the 1995 Order (professional advisers);

“scheme assets” means the value of the assets according to the most recent actuarial valuation carried out under Article 203 of the Order (actuarial valuations and reports) or, if no such valuation has been carried out, the most recent valuation carried out under Article 56 of the 1995 Order (minimum funding requirement) and regulations made thereunder.

(1)

By virtue of regulation 4 of, and Part I of Schedule 2 to, the Limited Liability Partnerships Regulations (Northern Ireland) 2004 (S.R. 2004 No. 307) Article 9 (except paragraph (3)) applies to limited liability partnerships with the modifications set out in regulation 4(1)