SCHEDULE 1U.K.MODIFICATION OF CERTAIN PROVISIONS OF PARTS 1 AND 2 OF THE ACT

[F13A.  In section 134 (directions)—U.K.

(a)in subsection (1), for “there is an assessment period in relation to an eligible scheme” substitute “an occupational pension scheme is a qualifying pension scheme under section 286(2) which has not been fully wound up”;

(b)in subsection (2), for the words from the beginning to “is kept to a minimum” substitute “With a view to ensuring that any reduction in the scheme’s assets is kept to a minimum or that the assets of the scheme are invested in a way which, in the opinion of the scheme manager, is appropriate”;

[F2(ba)in subsection (2), after paragraph (b) insert—

“(ba)the determination of interim pensions,”;]

(c)in subsections (2) and (4), for “the Board”, substitute “the scheme manager”; and

[F3(ca)in subsection (3), before paragraph (a) insert—

“(za)“interim pension” has the meaning given by regulations under section 286(1),”;]

(d)in subsection (3), after paragraph (a)(i) insert—

“(ia)a professional adviser to the scheme;

(ib)any other person appearing to the scheme manager to be a person who carries out, or is likely to carry out, activities relevant to the use of the assets of the scheme;”.]

Textual Amendments