Amendment of the Occupational Pension Schemes (Levies) Regulations2

1

The Occupational Pension Schemes (Levies) Regulations (Northern Ireland) 20053 shall be amended in accordance with paragraphs (2) to (8).

2

In regulation 4(4) (liability for the levies)—

a

for “year” there shall be substituted “years”;

b

after “31st March 2006” there shall be inserted “and 31st March 2007”.

3

In regulation 5 (the reference day)—

a

in paragraphs (2) and (3)—

i

for “years” there shall be substituted “year”;

ii

the words “and 1st April 2006” shall be omitted;

b

in paragraph (4) for “1st April 2007” there shall be substituted “1st April 2006”.

4

In regulation 6(2) (the amount payable)—

a

for “year” there shall be substituted “years”;

b

after “31st March 2006” there shall be inserted “and 31st March 2007”.

5

In regulation 13 (meaning of “the levies” in Part IV)—

a

after “14(3)” there shall be inserted “or, as the case may be, 15(7)”;

b

for “and the initial levy” there shall be substituted “, the initial levy and the pension protection levy”.

6

In regulation 14(3) (attribution of payments in respect of levies) the words “any pension protection levy and” shall be omitted.

7

After paragraph (6) of regulation 15 (multi-employer schemes) there shall be added the following paragraph—

7

This regulation does not apply to any pension protection levy.

8

In regulation 18(4) (avoidance of double liability: schemes in Great Britain)—

a

at the end of sub-paragraph (b) the word “and” shall be omitted;

b

in sub-paragraph (c) for “Regulations.” there shall be substituted “Regulations; and”;

c

after sub-paragraph (c) there shall be added the following sub-paragraph—

d

in the case of the pension protection levy, if it is imposed under section 175 of the 2004 Act.