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The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations (Northern Ireland) 2005
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- Northern Ireland Statutory Rules
- 2005 No. 91
- PART IV
- Regulation 35
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35. Article 118 (directions) shall be modified in its application to a non-segregated multi-employer section to which regulation 28 applies so that it shall be read as if –
(a)in paragraph (2) –
(i)for “the scheme’s protected liabilities do not exceed its assets” there were substituted “the protected liabilities of the segregated part do not exceed its assets”;
(ii)for “in relation to the scheme” there were substituted “in relation to the segregated scheme in question”, and
(iii)in sub-paragraph (a) for “the investment of the scheme’s assets” there were substituted “the investment of the assets of the section”; and
(b)in paragraph (3)(a) for head (i) there were substituted the following head –
(i)any trustees or managers of the scheme in relation to which the segregated part relates,”.
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