The Financial Assistance Scheme Regulations 2005 No. 1986

PART 3 U.K. QUALIFYING PENSION SCHEMES

[F1 Employer-related condition: multi-employer schemes U.K.

12B.— (1) In relation to a section of a sectionalised multi-employer scheme, the condition to be satisfied for the purposes of regulation 9(1)(c)(iv) is that—

(a) the debt due under section 144 of the 1993 Act was discharged by all the employers in that section of the scheme; or

(b) no debt was due under that section of that Act when the scheme began to wind up.

(2) In relation to a multi-employer scheme which is not a sectionalised multi-employer scheme, the condition to be satisfied for the purposes of regulation 9(1)(c)(iv) is that—

(a) the debt due under section 144 of the 1993 Act was discharged by all the employers to which the scheme relates; or

(b) no debt was due under that section of that Act when the scheme began to wind up.

(3) In relation to a section of a sectionalised multi-employer scheme, the condition to be satisfied for the purposes of regulation 9(1)(c)(vi) is that—

(a) the debt due under section 75 of the 1995 Act was discharged by all the employers in that section of the scheme; or

(b) no debt was due under that section of that Act when the scheme began to wind up.

(4) In relation to a multi-employer scheme which is not a sectionalised multi-employer scheme, the condition to be satisfied for the purposes of regulation 9(1)(c)(vi) is that—

(a) the debt due under section 75 of the 1995 Act was discharged by all the employers to which the scheme relates; or

(b) no debt was due under that section of that Act when the scheme began to wind up.

(5) The scheme manager may treat any condition in paragraphs (1) to (4) as being satisfied where—

(a) [F2 it] is satisfied that an appropriate proportion of the debt was, or is likely to be, discharged; and

(b) in [F3 its] opinion, it was reasonable that the debt due under section 144 of the 1993 Act, or section 75 of the 1995 Act as appropriate, or a proportion of that debt has not been discharged.

(6) In this regulation—

(a) the references to the employer in paragraphs (1) and (3) shall be interpreted in accordance with regulation 12(3);

(b) the references to the employer in paragraphs (2) and (4) shall be interpreted in accordance with regulation 12(4); and

(c) “sectionalised multi-employer scheme” has the meaning given by regulation 12(6).]

Textual Amendments

F1 Reg. 12A - Reg. 12B inserted (17.7.2008) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2008 (S.I. 2008/1903), regs. 1, 7(4)

F2 Word in reg. 12B(5)(a) substituted (10.7.2009) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009 (S.I. 2009/1851), regs. 1, 7(1)(a) (with reg. 37)

F3 Word in reg. 12B(5)(b) substituted (10.7.2009) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009 (S.I. 2009/1851), regs. 1, 7(2)(a) (with reg. 37)