7.—(1) The Occupational Pension Schemes (Transfer Values)
Regulations 1985 shall be amended as follows—
(2) In regulation 1(2)—
(a)in the definition of “actual service” for “paragraph 3(2) of Schedule 16 to the Social Security Act 1973” substitute “section 70(3) of the Act”;
(b)in the definition of “member” for “Part II of Schedule 1A to the Social Security Pensions Act 1975” substitute “Chapter IV of Part IV of the Act”;
(c)in the definition of “personal pension scheme” for “section 84(1) of the Social Security Act 1986” substitute “section 1 of the Act”;
(d)in the definition of “protected rights” for “Schedule 1” onwards substitute “section 10 of the Act”;
(e)for “the Social Security Pensions Act 1975”, in the second place where it occurs, substitute “the Act”.
(3) In regulation 1(3) for “the Social Security Pensions Act 1975” onwards substitute “the Pension Schemes Act 1993 bearing that number”.
(4) In regulation 2(1) for “paragraph 13(2)(a)” in the first place it occurs substitute “section 95(2)(a)(ii) and (b)(ii)” and in paragraphs (a) and (aa) substitute “section 95(2)(a)(ii) or (b)(ii)”.
(5) In regulations 2(1)(a) and (aa), 2A, 2C(2), 3(1), (1A), (2) and (3), 4(2), (5) and (5A) for “paragraph 12(1)” substitute “section 94(1)”.
(6) In regulation 2(2) for “paragraph 13(2)(b)” substitute “section 95(2)(c)”.
(7) In regulation 2A—
(a)in paragraph (1) for “paragraph 12(2A)” substitute “section 98(1)”;
(b)in paragraph (4) for “sections 41A” to “revaluation of pensions)” and “B and C” onwards substitute respectively “Chapters II and III of Part IV of the Act” and “the pensionable service referred to in paragraph 1(1) of Schedule 3 (the final salary method of revaluation of accrued benefits)”.
(8) In regulation 2B for “paragraph 12(2A)” substitute “section 98(1)”.
(9) In regulation 2C—
(a)in paragraph (1) for “paragraph 12” substitute “section 94”;
(b)in paragraph (3) for “paragraph 12(2)” and “paragraph 15(2)” onwards substitute respectively “section 94(2)” and “section 95(8)”.
(10) In regulation 2D—
(a)in paragraph (1) for “paragraph 13(3)”, “paragraph 13(2)”, “paragraph (c)” and“paragraph 12” substitute respectively “section 95(5)(a)”, “section 95(2)”, “paragraph (d)” and “section 94”;
(b)in paragraph (2) for “paragraph 13(2)(c)” substitute “section 95(2)(d)”;
(c)in paragraph (3) omit “within the meaning of the Social Security Act 1986”.
(11) In regulation 3(2)
and (3) for “Schedule 1A” substitute “Chapter IV of Part IV of the Act”.
(12) In regulation 4—
(a)in paragraph (3A) for “paragraph 16” substitute “section 95”;
(b)in paragraph (5) for “paragraph 13(2)(a)” substitute “section 95(2)(a) or (b)”;
(c)in paragraph (5A) for “section 42 or, as the case may be, section 44” substitute “section 55”;
(d)in paragraph (5B) omit the words “by a transaction” to “annuity contracts)”;
(e)in paragraph (5C) for “section 52C”, wherever it occurs, substitute “section 19”;
(f)in paragraph (7) for “paragraph 12(2)” substitute “section 94(2)”.
(13) In regulation 5 for “paragraph 11(1)(a)” and “paragraphs 15(2)(a) and (3)(a) and 16(3)(b)” substitute respectively “section 93(1)(a)(i)” and “sections 95(8)(a), 98(7)(a) and 99(2)(b)”.
(14) In regulation 6—
(a)in paragraph (1) for “paragraph 13(2)” substitute “section 95”;
(b)in paragraph (2) for “Schedule 1A” substitute “Chapter IV of Part IV of the Act”.
(15) In regulation 7—
(a)in paragraph (1) for “paragraph 21” to “1973” substitute “section 165(6)”;
(b)in paragraph (2) for “Schedule 1A” to “values)” substitute “Chapter IV of Part IV of the Act”.
(16) In regulation 8—
(a)in paragraph (1) for “Part II of Schedule 1A” substitute “Chapter IV of Part IV of the Act”;
(b)in paragraph (3) for “paragraph 13 of Schedule 1A” substitute “section 95 of the Act”.
S.I. 1985/1931.