- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
11.—(1) This paragraph applies in the case of a scheme which—
(a)had fewer than 100 members on the effective date of its last actuarial valuation;
(b)is not exempted from the application of Part 3 of the 2004 Act by regulation 17(1), and
(c)is not a scheme in relation to which the application of that Part of the Act is modified by paragraph 6 of this Schedule.
(2) Where this paragraph applies—
(a)section 224(1)(a) of the 2004 Act shall apply as if it required the trustees or managers of the scheme to obtain an actuarial valuation the effective date of which is not more than three years after that of the last such valuation, and an actuarial report for any intervening year at any time in which the scheme had 100 or more members, and
(b)section 224(3) of that Act shall apply as if—
(i)all but paragraph (b) were omitted, and
(ii)that paragraph required that the effective date of any actuarial report must be an anniversary of the effective date of the last actuarial valuation.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: