69 Grounds for applying for modifications.E+W+S
(1)The Authority may, on an application made to them by persons competent to do so, make an order in respect of an occupational pension scheme (other than a public service pension scheme)—
(a)authorising the modification of the scheme with a view to achieving any of the purposes mentioned in subsection (3), or
(b)modifying the scheme with a view to achieving any such purpose.
(2)Regulations may make provision [F1requiring applications under this section to meet prescribed requirements].
(3)The purposes referred to in subsection (1) are—
F2(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)in the case of [F3a registered pension scheme under section 153 of the Finance Act 2004] which is being wound up, to enable assets remaining after the liabilities of the scheme have been fully discharged to be distributed to the employer, where prescribed requirements in relation to the distribution are satisfied, or
(c)to enable the scheme to be so treated during a prescribed period that an employment to which the scheme applies may be contracted-out employment by reference to it.
(4)The persons competent to make an application under this section are—
(a)in the case of the purposes referred to in paragraph F4... (b) of subsection (3), the trustees of the scheme, and
(b)in the case of the purposes referred to in paragraph (c) of that subsection—
(i)the trustees or managers of the scheme,
(ii)the employer, or
(iii)any person other than the trustees or managers who has power to alter the rules of the scheme.
(5)An order under subsection (1)(a) must be framed—
(a)if made with a view to achieving F5... the purposes referred to in [F6subsection (3)(b)], so as to confer the power of modification on the trustees, and
(b)if made with a view to achieving the purposes referred to in subsection (3)(c), so as to confer the power of modification on such persons (who may include persons who were not parties to the application made to the Authority) as the Authority think appropriate.
(6)Regulations may provide that in prescribed circumstances this section does not apply to occupational pension schemes falling within a prescribed class or description or applies to them with prescribed modifications.
Textual Amendments
F1Words in s. 69(2) substituted (6.4.2006) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 57(a); S.I. 2006/560, art. 2(3), Sch. Pt. 3
F2S. 69(3)(a) repealed (6.4.2006) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 57(b), Sch. 13; S.I. 2006/560, art. 2(3), Sch. Pt. 3
F3Words in s. 69(3)(b) substituted (6.4.2006) by The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 10(4)
F4Words in s. 69(4)(a) repealed (6.4.2006) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 57(c), Sch. 13; S.I. 2006/560, art. 2(3), Sch. Pt. 3
F5Words in s. 69(5)(a) repealed (6.4.2006) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 57(d), Sch. 13; S.I. 2006/560, art. 2(3), Sch. Pt. 3
F6Words in s. 69(5)(a) substituted (6.4.2006) by Pensions Act 2004 (c. 35), s. 322(1), Sch. 12 para. 57(d); S.I. 2006/560, art. 2(3), Sch. Pt. 3
Modifications etc. (not altering text)
C1S. 69 excluded (31.12.2000) by The Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations 2000 (S.I. 2000/3198), regs. 1(1), 2, Sch.
Commencement Information
I1S. 69 in force at 6.4.1996 for specified purposes by S.I. 1996/778, art. 2(5)(a), Sch. Pt. V
I2S. 69 in force at 6.4.1997 in so far as not already in force by S.I. 1997/664, art. 2(3), Sch. Pt. 3