The Pension Protection Fund and Pensions Regulator (Amendment) Regulations (Northern Ireland) 2005

Amendment of the Pension Protection Fund (Entry Rules) Regulations N.I.

3.—(1) The Pension Protection Fund (Entry Rules) Regulations (Northern Ireland) 2005(1) shall be amended in accordance with paragraphs (2) to (7).

(2) In regulation 2 (schemes which are not eligible schemes) –

(a) paragraph (1)(e) shall be omitted; and

(b) in paragraph (1)(f), for “but which is not” there shall be substituted “but which is neither a tax approved scheme nor”.

(3) In regulation 9(1) (confirmation of scheme status by insolvency practitioner) for “the scheme” where it first appears, there shall be substituted “an occupational pension scheme”.

(4) In regulation 13(1) (confirmation of scheme status – binding notices) –

(a) for “a scheme” there shall be substituted “an occupational pension scheme”; and

(b) for “practitioners” there shall be substituted “practitioner's”.

(5) In regulation 16 (restrictions on winding up, discharge of liabilities etc.) –

(a) in paragraph (1)(a) and (b), for “trustees or managers of the scheme”, in each place where it occurs, there shall be substituted “trustees or managers of an eligible scheme”; and

(b) in paragraph (2), for “a scheme”, in each place where it occurs, there shall be substituted “an eligible scheme”.

(6) In regulation 18 (loans to pay scheme benefits) –

(a) in paragraph (3), in paragraph (a) of the definition of “reference banks”, for “deposits;” there shall be substituted “deposits, and”; and

(b) in paragraph (4), for “Paragraph (3)(b)” there shall be substituted “In paragraph (3), paragraph (b) of the definition of “reference banks””.

(7) In regulation 24(1)(b)(ii) (applications for reconsideration) for “on any day” there shall be substituted “with any day”.

Commencement Information

I1 Reg. 3 in operation at 6.4.2005, see reg. 1

(1)

S.R. 2005 No. 126