This is the original version (as it was originally made).
12.—(1) Articles 37 (payment of surplus to employer) and 76 (excess assets on winding up)(1) shall not apply to a scheme where—
(a)a Minister of the Crown or government department has given a guarantee or made any other arrangements for the purpose of securing that the assets of the scheme are sufficient to meet its liabilities,
(b)arrangements for the payment of any surplus or for the distribution of any excess assets on the winding up of the scheme are subject to the approval of a Minister of the Crown or government department, or
(c)the scheme does not fall within the description of schemes prescribed in regulation 3(1).
(2) Where such a guarantee has been given as is mentioned in paragraph (1)(a) or (b) in respect of only part of a scheme, Articles 37 and 76 shall apply as if that part and the other part of the scheme were separate schemes.
S.I. 1995/3213 (N.I. 22); Article 37 is substituted by Article 227 of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)); Article 76 is amended by paragraph 56 of Schedule 10 to that Order
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