The Contracting-out (Transfer and Transfer Payment) Regulations 1996

Statutory Instruments

1996 No. 1462

PENSIONS

The Contracting-out (Transfer and Transfer Payment) Regulations 1996

Made

5th June 1996

Laid before Parliament

11th June 1996

Coming into force

6th April 1997

The Secretary of State for Social Security, in exercise of the powers conferred on him by sections 12C(1)(a)(1), 20(1), (2) and (3), 181(1)(2) and 182(2) and (3) of the Pension Schemes Act 1993(3) and of all other powers enabling him in that behalf, after agreement with the Occupational Pensions Board that certain proposals within these Regulations need not be referred to them, by this instrument, which otherwise contains regulations made only for the purpose of consolidating regulations revoked by them and regulations made under section 12C(1)(a) of the Pension Schemes Act 1993 as inserted by section 136 of the Pensions Act 1995(4) and which are made before the end of the period of 6 months beginning with the coming into force of that section(5), hereby makes the following Regulations:

(1)

Section 12C is inserted by section 136(5) of the Pensions Act 1995 (c. 26).

(2)

Section 181(1) is cited because of the meaning there given to the words “prescribed” and “regulations”.

(3)

1993 c. 48.

(4)

1995 c. 26.

(5)

See section 185(2) and (6) of the Pension Schemes Act 1993 and section 173(1) and (5) of the Social Security Administration Act 1992 (c. 5), under which the requirement to consult does not apply where regulations are made only for the purpose of consolidating other regulations revoked by them or are made before the end of six months from the coming into force of the enactment under which they are made or where the Occupational Pensions Board agrees that regulations need not be referred to them.