The Financial Assistance Scheme Regulations 2005

Qualifying pension schemes U.K.

9.—(1) An occupational pension scheme shall be a qualifying pension scheme for the purposes of these Regulations where—

(a) immediately before the time when the scheme began to wind up, it was neither a money purchase scheme nor a scheme of a description prescribed in regulation 10;

(b) the scheme began to wind up during the period beginning on 1^st January 1997 and ending on 5^th April 2005;

(c) the employer in relation to that scheme satisfies the condition in regulation 11 or in relation to a multi-employer scheme, the condition in regulation 12 is satisfied; and

(d) the details prescribed in regulation 14 have been notified to the scheme manager by a person, in the form and manner and before the date prescribed in that regulation.

(2) The following shall be treated as separate schemes for the purposes of these Regulations—

(a) in relation to an occupational pension scheme which is not a tax approved scheme but contains one or more sections which, by virtue of section 611(3) of the ICTA M1 (definition of “retirement benefits scheme”), are treated by the Commissioners of HMRC as a tax approved scheme, those sections which are so treated;

(b) sections of sectionalised multi-employer schemes as defined for the purposes of regulation 12,

and references in these Regulations to schemes shall be construed accordingly.