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Pension Schemes (Northern Ireland) Act 1993

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Changes over time for: Section 34

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Version Superseded: 06/04/2012

Status:

Point in time view as at 06/04/2009. This version of this provision has been superseded. Help about Status

Changes to legislation:

Pension Schemes (Northern Ireland) Act 1993, Section 34 is up to date with all changes known to be in force on or before 27 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

34 Alteration of rules of appropriate schemes.N.I.

(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 22 to 29; or

(b)to cause the scheme to take a different permitted form from that previously taken,

F1. . .

(2)Subsection (1) does not apply

[F2(a)]to an alteration of a prescribed description[F3; 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 F4. . ..

(4)[F5Regulations 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 (Northern Ireland) 1988 which [F6is 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 M1Building Societies Act 1986)).

[F7(d)an open-ended investment company within the meaning of the Open-Ended Investment Companies Regulations (Northern Ireland) 2004.]

[F8(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 under section 426 of that Act making transitional provisions, treated as falling within that meaning.]

(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Words in s. 34(1) repealed (6.4.1997) by S.I. 1995/3213 (NI 22), arts. 1(2), 147, 168, Sch. 3 para. 33(a), Sch. 5 Pt. III; S.R. 1997/192, art. 2(b)

F4Words in s. 34(3) repealed (6.4.1997) by S.I. 1995/3213 (NI 22), arts. 1(2), 147, 168, Sch. 3 para. 33(b), Sch. 5 Pt. III; S.R. 1997/192, art. 2(b)

F5Words in s. 34(4) substituted (6.4.1997) by S.I. 1995/3213 (NI 22), arts. 147, Sch. 3 para. 33(c); S.R. 1997/192, art. 2(b)

F6Words in s. 34(6)(b) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 132(2)

F8S. 34(6A) inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 132(3)

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