The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005

[F1 The pension compensation provisions U.K.

27.— (1) Section 162(1) of the Act (the pension compensation provisions) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if—

(a) for the words “in relation to a scheme”, there were substituted the words “in relation to a multi-employer section of a segregated scheme”;

(b) in paragraphs (a) and (b), after the word “members”, there were added the words “of that section”;

(c) in paragraph (c), after the word “payable”, there were added the words “to or in respect of members of that section”; and

(d) at the end of paragraph (d), there were added the words “payable to or in respect of members of that section”.

(2) Section 163(2) of the Act (adjustments to be made where the Board assumes responsibility for a scheme) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if, in paragraph (a), after the words “to any member”, there were inserted the words “of that section”.

(3) Section 166(1) of the Act (duty to pay scheme benefits unpaid at assessment date etc) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if, for the words “assumes responsibility for a scheme”, there were substituted the words “assumes responsibility for a multi-employer section of a segregated scheme”.]

Textual Amendments

F1 Pt. 3 substituted (1.8.2005) by The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2005 (S.I. 2005/2113), regs. 1(2), 10(3)