[F125GPension compensation: supplementaryE+W
(1)The Lord Chancellor may by regulations—
(a)make provision, in relation to any provision of section 25F which authorises the court making an order under section 23 to require the Board of the Pension Protection Fund to make a payment for the benefit of the other party, as to the person to whom, and the terms on which, the payment is to be made;
(b)make provision, in relation to payment under a mistaken belief as to the continuation in force of a provision included by virtue of section 25F in an order under section 23, about the rights or liabilities of the payer, the payee or the person to whom the payment was due;
(c)require notices to be given in respect of changes of circumstances relevant to orders under section 23 which include provision made by virtue of section 25F;
(d)make provision for the Board of the Pension Protection Fund to be discharged in prescribed circumstances from a requirement imposed by virtue of section 25F;
(e) make provision about calculation and verification in relation to the valuation of PPF compensation for the purposes of the court's functions in connection with the exercise of any of its powers under this Part.
(2)Regulations under subsection (1)(e) may include—
(a)provision for calculation or verification in accordance with guidance from time to time prepared by a prescribed person;
(b)provision by reference to regulations under section 112 of the Pensions Act 2008.
(3)Regulations under subsection (1) may make different provision for different cases.
(4)The power to make regulations under subsection (1) is exercisable by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
(5)In this section and section 25F—
“ the party with compensation rights ” means the party to the marriage who is or is likely to be entitled to PPF compensation, and “ the other party ” means the other party to the marriage;
“ prescribed ” means prescribed by regulations. ]
Textual Amendments
F1Ss. 25F, 25G inserted (s. 25G in force at 6.3.2011, s. 25F in force at 6.4.2011) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 6 para. 7; S.I. 2011/664, art. 2(2)(3), Sch. Pts. 1, 2