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Pension Schemes (Northern Ireland) Act 1993
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Pension Schemes (Northern Ireland) Act 1993, Section 97L is up to date with all changes known to be in force on or before 01 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.
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[F197L Variation of the amount required to be used.N.I.
(1)Regulations may make provision for the amount required to be used under section 97F(1) to be increased or reduced in prescribed circumstances.
(2)Without prejudice to the generality of subsection (1), the circumstances which may be prescribed include—
(a)failure by the trustees or managers of a qualifying scheme to comply with a notice under section 97F(1) within 6 months of the date by reference to which the amount of the cash equivalent falls to be determined, and
(b)the state of funding of a qualifying scheme.
(3)Regulations under subsection (1) may have the effect of extinguishing an obligation under section 97F(1).]
Textual Amendments
F1Pt. 4A Chapters 1, 2 (ss. 97A-97Q) inserted (1.12.1999 for certain purposes and otherwise 1.12.2000) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 34; S.R. 2000/133, art. 2(3), Sch. Pt. IV
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