EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend the Pension Protection Fund (Entry Rules) Regulations (Northern Ireland) 2005 (“the 2005 Regulations”).
Regulation 2 inserts regulation 5A into the 2005 Regulations so that certain employers which have the centre of their main interests in a member State of the European Economic Area, other than the United Kingdom, can, in certain limited circumstances, undergo an insolvency event for the purposes of Part 3 of the Pensions (Northern Ireland) Order 2005 (“the Order”). Regulation 2 also makes a consequential amendment to regulation 6 of the 2005 Regulations so that it does not apply in relation to an insolvency event under regulation 5A.
These Regulations cease to have effect on 21st July 2017.
The Pensions (2005 Order) (Commencement No. 15) Order (Northern Ireland) 2014 (S.R. 2014 No. 183 (C. 12)) provides for the coming into operation of Article 105(9)(b) of the Order, one of the enabling provisions under which these Regulations are made, on 25th June 2014.
As these Regulations make in relation to Northern Ireland only provision corresponding to provision contained in regulations made by the Secretary of State for Work and Pensions in relation to Great Britain, the requirement to consult under Article 289(1) of the Order does not apply by virtue of paragraph (2)(e) of that Article.