The Financial Assistance Scheme (Internal Review) Regulations 2005

Statutory Instruments

2005 No. 1994

PENSIONS

The Financial Assistance Scheme (Internal Review) Regulations 2005

Made

19th July 2005

Coming into force in accordance with regulation 1(1)

Whereas a draft of this instrument was laid before Parliament in accordance with section 316(2)(n) of the Pensions Act 2004(1) and approved by resolution of each House of Parliament;

Now, therefore, the Secretary of State for Work and Pensions, in exercise of the powers conferred upon him by sections 286(1) and (3)(g)(i), 315(2) and (4) and 318(1) of the Pensions Act 2004(2), and of all other powers enabling him in that behalf, by this instrument, which contains regulations made before the end of the period of six months beginning with the coming into force of the provisions of that Act by virtue of which the regulations are made(3), makes the following Regulations:

(1)

2004 c. 35. Section 286 is modified in its application to multi-employer schemes by the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441).

(2)

Section 318(1) is cited because of the meaning there given to “prescribed” and “regulations”.

(3)

See section 317(2)(c) of the Pensions Act 2004 which provides that the Secretary of State must consult such persons as he considers appropriate before making regulations by virtue of the provisions of that Act (other than Part 8). This duty does not apply where regulations are made before the end of six months beginning with the coming into force of the provisions of that Act by virtue of which the regulations are made.