PART IGENERAL

Citation, commencement and interpretation1.

(1)

These Regulations may be cited as the Occupational Pension Schemes (Transfer Values) Regulations 1996 and shall come into force on 6th April 1997.

(2)

In these Regulations, unless the context otherwise requires—

“the 1993 Act” means the Pension Schemes Act 1993;

“the 1995 Act” means the Pensions Act 1995;

“appropriate date” has the meaning given to that expression in section 97(3A) of the 1993 Act18;
“base rate” has the meaning given to that expression in the Local Government Pension Scheme Regulations 199519;
“cash equivalent” means a cash equivalent or guaranteed cash equivalent mentioned in section 93A(1) or 94(1) of the 1993 Act20;

“guarantee date” has the meaning given to that expression in section 93A(2) of the 1993 Act;

“member” (except in regulation 11 and regulation 13(a)(iii)) means a member of a scheme to whom Chapter IV of Part IV of the 1993 Act applies;

“post-97 protected rights” has the meaning given to that expression in the Protected Rights (Transfer Payment) Regulations 199621;
“relevant date” has the meaning given to that expression in section 94(2) of the 1993 Act22;
“salary related scheme” means a scheme which is salary related within the meaning of section 93(1A) of the 1993 Act23;

“scheme”, except in the expressions “personal pension scheme” and “receiving scheme”, means occupational pension scheme;

“scheme actuary”, in relation to a scheme to which section 47(1)(b) of the 1995 Act applies, means the actuary mentioned in section 47(1)(b) of that Act;

“section 9(2B) rights” has the meaning given to that expression in the Contracting-out (Transfer and Transfer Payment) Regulations 199624;
“trustees”, in relation to a scheme which is not set up or established under a trust, means the managers of the scheme25

and other expressions have the same meaning as in the 1993 Act.