Regulation 14
In a case such as is mentioned in regulation 14(3), the Contracting-out (Transfer) Regulations 1985 are modified as follows:
(a)all references to the Occupational Pensions Board are replaced by references to the Secretary of State;
(b)the definition of “overseas scheme" is replaced by the definition of “ overseas scheme ” in these Regulations; and
(c)the definition of “section 53 money purchase scheme" is replaced by the definition “ &4u; “section 53 money purchase scheme" means a scheme which was formerly a money purchase contracted-out scheme and in respect of which section 53 applies ” and the definition of “section 53 salary related scheme" is replaced by the definition “ &4u; “section 53 salary related scheme" means a scheme which was formerly a salary related contracted-out scheme and in respect of which section 53 applies ”.