C1C4 Part IIIF10F16Schemes that were contracted-out etc. and Effects on Members’ State Scheme Rights ...
Words in Pt. 3 heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(a)
Pt. 3: power to modify conferred (1.6.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 146(1); S.R. 1996/91, art. 2(f); S.R. 1997/192, art. 2
Pt. 3: power to transfer functions conferred (1.4.1999) by 1999 c. 2, s. 23(1)(2)(6); S.I. 1999/527, art. 2(b), Sch. 2
Chapter III Termination of Contracted-out or Appropriate Scheme Status: State Scheme Premiums
Approval of arrangements for schemes ceasing to be certified
C2C346 Powers of Board to approve arrangements for scheme ceasing to be certified.
F81
In the case of an occupational pension scheme F18... which is or has been certified as a F14salary related contracted-out scheme, the F1Inland Revenue may, for the event of, or in connection with, its ceasing to be such a scheme, approve any arrangements made or to be made in relation to the scheme, or for its purposes, for the preservation or transfer—
F9a
of earners’ accrued rights to guaranteed minimum pensions under the scheme or accrued rights to pensions under the scheme attributable to their service on or after the principal appointed day, and
F9b
of the liability for the payment of such pensions in respect of persons who have then become entitled to receive them.
F21A
The power of the F1Inland Revenue to approve arrangements under this section—
a
includes power to approve arrangements subject to conditions, and
b
may be exercised either generally or in relation to a particular scheme.
F21B
Arrangements may not be approved under this section unless any prescribed conditions are met
2
If the scheme ceases to be a F11salary related contracted-out scheme (whether by being wound up or otherwise) and the F1Inland Revenue either—
b
F3have declined to approve arrangements relating to it,
the F1Inland Revenue may issue a certificate to that effect.
3
4
Regulations may provide that where the F1Inland RevenueF6 have approved arrangements under subsection (1) in respect of an occupational pension scheme F17... any provision of this Part (other than sections 14, 15, F1227 and 29 and F1339 and 41) or Chapter III of Part IV or Chapter II of Part V shall have effect subject to such modifications as may be specified in the regulations.
5
Any such regulations shall have effect in relation to arrangements whenever approved, unless they provide that they are only to have effect in relation to arrangements approved after they come into operation.
6
It is hereby declared that an approval of arrangements relating to an occupational pension scheme F15to which subsection (1) applies may be withdrawn at any time, notwithstanding that the scheme has been wound up.
F77
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Words in Pt. 3 heading omitted (6.4.2016) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(b)