Amendment of the Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations6
1
The Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations (Northern Ireland) 20057 are amended in accordance with paragraphs (2) to (5).
2
In regulation 1(2) (interpretation) after the definition of “partially guaranteed scheme” insert—
“the Partially Guaranteed Schemes Regulations” means the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations (Northern Ireland) 2005;
3
In regulation 5 (applications for fraud compensation payments)—
a
in paragraph (5)(b) at the beginning insert “except where paragraph (6) applies,”;
b
after paragraph (5) add—
6
This paragraph applies to a scheme to which regulation 2A of the Partially Guaranteed Schemes Regulations (schemes to which regulation 2(1) does not apply) applies.
4
In regulation 7 (amount of fraud compensation)—
a
in paragraph (5)(b) at the beginning insert “except where paragraph (6) applies,”;
b
after paragraph (5) add—
6
This paragraph applies to a scheme to which regulation 2A of the Partially Guaranteed Schemes Regulations (schemes to which regulation 2(1) does not apply) applies.
5
In regulation 11 (partially guaranteed schemes) for “The fraud compensation” substitute “Except where a partially guaranteed scheme is a scheme to which regulation 2A of the Partially Guaranteed Schemes Regulations (schemes to which regulation 2(1) does not apply) applies, the fraud compensation”.