SCHEDULE 3SUPPLEMENTARY AND CONSEQUENTIAL PROVISIONS

Pension Sharing (Valuation) Regulations 2000

9

1

The Pension Sharing (Valuation) Regulations 2000 M1 are amended as follows.

2

In regulation 1(2) (interpretation), after the definition of “the 1999 Act” insert—

“the 2004 Act” means the Pensions Act 2004;

3

In regulation 4 (calculation and verification of cash equivalents)—

a

insert the word “ and ” at the end of paragraph (3)(b)(i);

b

omit the word “and” at the end of paragraph (3)(b)(ii), and

c

omit paragraphs (3)(b)(iii) and (4).

4

In regulation 5 (further provisions as to calculation of cash equivalents)—

a

in paragraph (3), for “section 56 of the 1995 Act” substitute “ Part 3 of the 2004 Act ”;

b

in paragraph (3B), omit “then, subject to paragraph (3D)”;

c

omit paragraphs (3D) to (3I), (3K) and (3L);

d

in paragraph (4)—

i

for “Schedule 5 to the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996” substitute “ Schedule 2 to the Occupational Pension Schemes (Scheme Funding) Regulations 2005 ”;

ii

for “section 56 of the 1995 Act” substitute “ Part 3 of the 2004 Act ”, and

iii

for “paragraphs (3), (3A) and (3G)” substitute “ paragraphs (3) and (3A) ”, and

e

in paragraph (5), for “paragraphs (3) and (3F)” substitute “ paragraph (3) ”.