PART VNON-SEGREGATED SCHEMES: SCHEMES WITH A REQUIREMENT FOR PARTIAL WIND UP ON THE WITHDRAWAL OF A PARTICIPATING EMPLOYER

The pension compensation provisions

60.—(1) Article 146 (the pension compensation provisions) shall be modified in its application to a segregated part to which regulation 45 applies so that it shall be read as if in paragraph (1) –

(a)for “in relation to a scheme” there were substituted “in relation to a segregated part of a non-segregated scheme”;

(b)in sub-paragraphs (a) and (b) after “members” there were inserted “of that segregated part”;

(c)in sub-paragraph (c) after “payable” there were inserted “to or in respect of members of that part”; and

(d)in sub-paragraph (d) at the end there were added “payable to or in respect of members of that segregated part”.

(2) Article 147 (adjustments to be made where the Board assumes responsibility for a scheme) shall be modified in its application to a segregated part to which regulation 45 applies so that it shall be read as if in paragraph (2)(a) after “to any member” there were inserted “of that part”.

(3) Article 150 (duty to pay scheme benefits unpaid at assessment date etc.) shall be modified in its application to a segregated part to which regulation 45 applies so that it shall be read as if in paragraph (1) for “assumes responsibility for a scheme” there were substituted “assumes responsibility for a segregated part of a non-segregated scheme”.