The Occupational Pension Schemes(Winding Up) Regulations 1996

[F1Schemes with partial government guaranteeE+W+S

12A.—(1) This regulation applies if a relevant public authority has—

(a)given a guarantee in relation to any part of a scheme, any benefits payable under the scheme or any member of the scheme; or

(b)made any other arrangements for the purposes of securing that the assets of the scheme are sufficient to meet any part of its liabilities.

(2) Where this regulation applies, sections 73 to 74 and the provisions of these Regulations (apart from this regulation) apply as if the guaranteed part of the scheme and the other part of the scheme were separate schemes.

(3) In this regulation—

“the guaranteed part of the scheme” means the part of the scheme—

(a)

in relation to which the guarantee has been given;

(b)

which relates to benefits payable under the scheme in relation to which the guarantee has been given; or

(c)

which relates to benefits payable under the scheme in relation to the liabilities for which those other arrangements have been made; and

“relevant public authority” has the meaning given in subsection (4) of section 307 of the Pensions Act 2004 (modification of that Act in relation to certain categories of schemes).]

Textual Amendments