The Occupational Pension Schemes (Winding up Procedure Requirement) Regulations (Northern Ireland) 2006

Amendment of the Occupational Pension Schemes (Scheme Funding) Regulations

5.—(1) The Occupational Pension Schemes (Scheme Funding) Regulations (Northern Ireland) 2005(1)shall be amended in accordance with paragraphs (2) and (3).

(2) In regulation 8 (recovery plan) omit paragraph (8).

(3) In regulation 17 (exemptions - general)—

(a) in paragraph (1)(l) for “subject to regulation 18” substitute “subject to paragraph (1A) and regulation 18”;

(b) after paragraph (1) insert—

“(1A) Article 210A (requirements for winding up procedure) applies to a scheme where—

(a) a recovery plan has been prepared under Article 205, and

(b) the scheme begins to wind up during the recovery period.”, and

(c) after paragraph (2) insert—

“(2A) In paragraph (1A) “recovery period” means the period specified in the scheme’s recovery plan in accordance with Article 205(2)(b).”.

(1)

S.R. 2005 No. 568; those Regulations are modified in their application to an occupational pension scheme that is subject to the regulatory own funds requirement by S.R. 2005 No. 570