1.—(1) These Regulations may be cited as the Personal Pension Schemes (Compensation) Regulations 1988 and shall come into force on 26th January 1989.
(2) In these Regulations—
“the Act” means the [F1Pension Schemes Act 1993];
“the Appropriate Schemes Regulations” means the Personal Pension Schemes (Appropriate Schemes) Regulations 1988 M1;
[F2“authorised insurer” means—
a person who has permission under Part 4 of the Financial Services and Markets Act to effect and carry out contracts of insurance, or
an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of insurance in the United Kingdom;
“authorised deposit taker” means—
a person who has permission under Part 4 of the Financial Services and Markets Act to accept deposits, or
an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits;
“the Financial Services and Markets Act” means the Financial Services and Markets Act 2000;
“the Financial Services Compensation Scheme” has the same meaning as in section 213(2) of the Financial Services and Markets Act;]
F3...
F4...
F5...
F6...
F7...
“liable scheme” has the meaning assigned by regulation 2;
F8...
“scheme” means personal pension scheme.
[F9(3) In paragraph (2), the definitions of “authorised insurer” and “authorised deposit taker” must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.]
Textual Amendments
F1Words in reg. 1(2) substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 22(2)
F2Words in reg. 1(2) inserted (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 393(2)
F3Words in reg. 1(2) revoked (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 393(1)(i)
F4Words in reg. 1(2) revoked (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 393(1)(ii)
F5Words in reg. 1(2) revoked (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 393(1)(iii)
F6Words in reg. 1(2) revoked (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 393(1)(iv)
F7Words in reg. 1(2) revoked (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 393(1)(v)
F8Words in reg. 1(2) revoked (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 393(1)(vi)
F9Reg. 1(3) inserted (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 393(3)
Marginal Citations
M1S.I. 1988/137, amended by S.I. 1988/830.