Amendment of the Local Government Pension Scheme (Administration) (Scotland) Regulations 2008
30. After regulation 62, insert—
“Joint liability in respect of annual allowance charge
62A.—(1) This regulation applies where a member gives his or her appropriate administering authority notice of joint and several liability under section 237B (liability of scheme administrator) of the Finance Act 2004(1) (“the Act”) in respect of the member’s annual allowance charge.
(2) Where the joint liability amount specified in the notice is met by the pension fund, the appropriate administering authority shall reduce the value of the member’s rights accrued under the Scheme and the Earlier Regulations (if applicable), in accordance with guidance issued by the Scottish Ministers.
(3) In this regulation—
(a)“annual allowance charge” has the meaning given to that expression by section 227 of the Act; and
(b)“the joint liability amount” has the meaning given to that expression by section 237B(3) of the Act.”.
2004 c.12. Section 237B was inserted by Schedule 17 to the Finance Act 2011 (c.11).