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The Occupational Pension Schemes(Winding Up) Regulations 1996
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- UK Statutory Instruments
- 1996 No. 3126
- Preliminary
- Regulation 1
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The Occupational Pension Schemes(Winding Up) Regulations 1996, Section 1 is up to date with all changes known to be in force on or before 17 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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- Instrument saved by S.I. 1997/784 reg.8
Citation, commencement and interpretationE+W+S
1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Winding Up) Regulations 1996 and shall come into force on 6th April 1997.
(2) These Regulations do not apply to any scheme which has begun to be wound up before that date.
(3) Unless the context otherwise requires—
(a)expressions used in these Regulations have the same meaning as if they were used in Part I of the Pensions Act 1995; and
(b)in these Regulations any reference to a section is a reference to a section of that Act.
[F1(4) In these Regulations—
F2 ...
“the MFR Regulations” means the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996;
“pension credit” means a credit under section 29(1)(b) of the Welfare Reform and Pensions Act 1999;
“transfer credits” has the meaning given by regulation 1(2) of the Pension Sharing (Pension Credit Benefit) Regulations 2000 (citation, commencement and interpretation).]
[F3(5) References in these Regulations to FRC standards are to actuarial standards adopted or prepared, and from time to time revised, by the Financial Reporting Council Limited, which are relevant to the determination, calculation and verification of the amount or value of the liabilities of the scheme to which section 73 applies.]
Textual Amendments
F1 Reg. 1(4) substituted (1.12.2000) by The Pension Sharing (Consequential and Miscellaneous Amendments) Regulations 2000 (S.I. 2000/2691), regs. 1, 3(2)
F2Words in reg. 1(4) omitted (9.8.2012) by virtue of The Occupational and Personal Pension Schemes (Prescribed Bodies) Regulations 2012 (S.I. 2012/1817), reg. 1, Sch. para. 3(a)(i)
F3Reg. 1(5) substituted (9.8.2012) by The Occupational and Personal Pension Schemes (Prescribed Bodies) Regulations 2012 (S.I. 2012/1817), reg. 1, Sch. para. 3(a)(ii)
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