These Regulations make further provision about Article 39 and related Articles of the Pensions (Northern Ireland) Order 2005 (“the Order”), known as one of the anti-avoidance provisions, that is, the Regulator’s power to issue financial support directions. They also, in relation to all the anti-avoidance provisions (that is, contribution notices, financial support directions and restoration orders) extend the meaning of employer to include former employers in specified circumstances and modify those provisions of the Order in their application to multi-employer schemes.

Regulation 2 defines the meanings of terms used in the regulations.

Regulation 3 prescribes those schemes to which the provisions on financial support directions do not apply.

Regulation 4 prescribes those events the occurrence of which must be notified to the Regulator.

Regulation 5 prescribes the period which is the “relevant time” for the purposes of the provisions on financial support directions, being the period during which, for example, the employer or an associated or connected person must meet the conditions set out in the test as to whether or not the employer is insufficiently resourced.

Regulation 6 prescribes the percentage of the estimated Article 75 debt which relates to the test as to whether or not the employer is insufficiently resourced.

Regulation 7 sets out what constitutes the resources of persons to whom that test applies.

Regulation 8 prescribes how the value of such a person’s resources is to be determined.

Regulation 9 prescribes the calculation to be undertaken to determine the value of the resources of a business to which the test applies.

Regulation 10 prescribes what will constitute the verification of the value of the resources.

Regulation 11 sets out the calculation and the verification of the resources of an individual associated with the employer in a capacity other than a business associate, to whom the test applies.

Regulation 12 allows the Regulator to deem the value of the resources of a person, in circumstances where that person has failed to co-operate with the Regulator.

Regulations 13 and 14 prescribe requirements and arrangements in respect of arrangements to be put in place in compliance with a financial support direction.

Regulation 15 extends the meaning of “employer” in relation to the anti-avoidance provisions of the Order to include former employers in certain circumstances.

Regulation 16 modifies the Articles of the Order relating to the anti-avoidance provisions to apply to multi-employer schemes.

The Pensions (2005 Order) (Commencement No. 1 and Consequential and Transitional Provisions) Order (Northern Ireland) 2005 (S.R. 2005 No. 48 (C. 5)) provides for the coming into operation of some of the enabling provisions under which these Regulations are made as follows—

• Article 280(1)(b), for the purpose of authorising the making of regulations on 25th February 2005 and for all other purposes on 8th March 2005;

• Articles 2(5)(a), 39(1)(b), (3)(c) and (9), 40(3)(a) and (4) and 41(2)(b), for the purpose of authorising the making of regulations on 25th February 2005 and for all other purposes on 6th April 2005;

• Article 41(2)(c) and (d) on 6th April 2005.

As these Regulations are made before the end of the period of six months beginning with the coming into operation of the provisions of the Order by virtue of which they are made, the requirement to consult under Article 289(1) of the Order does not apply by virtue of paragraph (2)(c) of that Article.

An assessment of the cost to business of these Regulations is detailed in a Regulatory Impact Assessment, copies of which have been laid in the Business Office and the Library of the Northern Ireland Assembly. Copies of the Assessment are available from the Department for Social Development, Social Security Policy and Legislation Division, Level 1, James House, 2-4 Cromac Avenue, Gasworks Business Park, Ormeau Road, Belfast, BT7 2JA.