PART VE+W+S AMENDMENT OF REGULATIONS UNDER THE PENSION SCHEMES ACT 1993 AND THE PENSIONS ACT 1995

Amendment of the Protected Rights (Transfer Payment) Regulations 1996E+W+S

29.—(1) The Protected Rights (Transfer Payment) Regulations 1996 M1 shall be amended as set out in this regulation.

(2) In regulation 3(a) after “consents in writing" there shall be inserted “ or regulation 3A applies ”.

(3) After regulation 3 there shall be inserted—

“ Transfer payments from stakeholder pension schemes without the member’s consent

3A.  This regulation applies where—

(a)a transfer payment is made to a scheme, which is registered as a stakeholder pension scheme under section 2 of the Welfare Reform and Pensions Act 1999 or under Article 4 of the Welfare Reform and Pensions (Northern Ireland) Order 1999 M2, from a scheme which is or was so registered and which has commenced winding-up; and

(b)regulation 6 of the Stakeholder Pension Schemes Regulations 2000 is complied with.”.

Marginal Citations

M1S.I. 1996/1461; to which there are amendments not relevant to this instrument.