Alteration of scheme rules after certificationE+W+S
37 Alteration of rules of contracted-out schemes.E+W+S
[(1)Except in prescribed circumstances, the rules of a contracted-out scheme cannot be altered unless the alteration is of a prescribed description.
(2)Regulations made by virtue of subsection (1) may operate so as to validate with retrospective effect any alteration of the rules which would otherwise be void under this section.
(3)References in this section to a contracted-out scheme include a scheme which has ceased to be contracted-out so long as any person is entitled to receive, or has accrued rights to, any benefits under the scheme attributable to a period when the scheme was contracted-out.
(4)The reference in subsection (3) to a person entitled to receive benefits under a scheme includes a person so entitled by virtue of being the widower [or surviving civil partner] of an earner only in such cases as may be prescribed.]
Textual Amendments
Commencement Information
38 Alteration of rules of appropriate schemes.E+W+S
(1)Where an appropriate scheme certificate has been issued, no alteration of the rules of the relevant scheme shall be made so as—
(a)to affect any of the matters dealt with in sections 26 to 33; or
(b)to cause the scheme to take a different permitted form from that previously taken,
...
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(2)Subsection (1) does not apply
[(a)]to an alteration of a prescribed description[; or
(b)where the rules of the relevant scheme are altered to make provision for pensions for surviving civil partners].
(3)Subject to subsection (4), any alteration to which subsection (1) applies shall be void... .
(4)[Regulations made by virtue of subsection (2) may] operate so as to validate with retrospective effect any alteration of the rules which would otherwise be void under this section.
(5)This section shall continue in force in relation to a scheme after it has ceased to be an appropriate scheme so long as any person has protected rights under the scheme.
(6)The reference in subsection (1)(b) to a permitted form is to one of the following forms, namely—
(a)an arrangement for the issue of insurance policies or annuity contracts;
(b)a unit trust scheme of a kind mentioned in Part I of Schedule 1 to the Personal Pension Schemes (Appropriate Schemes) Regulations 1988 which [is an authorised unit trust scheme];
(c)an arrangement for the investment of contributions in an interest-bearing account (including shares in or deposits with a building society (within the meaning of the Building Societies Act 1986));
[(d)an open-ended investment company within the meaning of the Open-Ended Investment Companies Regulations 2001.]
[(6A)“Authorised unit trust scheme” has the meaning given in Part 17 of the Financial Services and Markets Act 2000 and includes any scheme which is, as a result of an order made under section 426 of that Act making transitional provisions, treated as falling within that meaning.]
(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
Commencement Information
Marginal Citations