PART 6NON-SEGREGATED SCHEMES:
SCHEMES WITHOUT PROVISION FOR PARTIAL WIND UP ON WITHDRAWAL OF A PARTICIPATING EMPLOYER
Notification of insolvency events, confirmation of scheme status, etc.62
1
Section 120 of the Act (duty to notify insolvency events in respect of employers) shall be modified so that it shall be read as if, in its application to a non-segregated scheme to which paragraph (1) or (2) of regulation 61 applies—
a
for subsection (1), there were substituted the following subsection—
1
This section applies where, in the case of a multi-employer scheme which is not divided into two or more sections (“a non-segregated scheme”), an insolvency event occurs in relation to any employer in relation to the scheme.
b
after subsection (2), there were inserted the following subsection—
2A
Where the trustees or managers of a non-segregated scheme receive a notice from an insolvency practitioner under subsection (2), they must send a copy of that notice as soon as practicable to all the employers in relation to the scheme.
2
Section 122 of the Act (insolvency practitioner’s duty to issue notices confirming status of scheme) shall be modified so that it shall be read as if, in its application to a non-segregated scheme to which paragraph (1) or (2) of regulation 61 applies—
a
for subsection (1), there were substituted the following subsection—
1
This section applies where an insolvency event has occurred in relation to any employer in relation to a non-segregated scheme.
b
for the words “the employer” in subsection (2), there were substituted the words “each employer”;
c
for the words “the employer” in paragraph (a) of subsection (3), there were substituted the words “an employer”;
d
for the words “the employer” in subsection (4), there were substituted the words “an employer”;
e
for the words “the employer” in subsection (6), there were substituted the words “an employer”; and
f
after subsection (6) there were inserted the following subsection—
6A
Where the trustees or managers of a non-segregated scheme receive a notice issued an insolvency practitioner or a former insolvency practitioner under subsection (6), they must send a copy of that notice as soon as practicable to all the employers in relation to the scheme.
3
Section 123 of the Act (approval of notices issued under section 122) shall be modified so that it shall be read as if, in its application a multi-employer scheme to which paragraph (1) or (2) of regulation 61 applies—
a
for subsection (1), there were substituted the following subsection—
1
This section applies where the Board receives a notice under section 122(6) (“the section 122 notice”) in relation to any employer in relation to a non-segregated scheme at a time when the Board has previously received such a notice in relation to all the other employers in relation to that scheme.
b
for subsection (2), there were substituted the following subsection—
2
The Board must determine whether to approve the section 122 notices received in relation to that employer.
c
in subsection (4)—
i
for the words “in relation to the employer or, if there is no such insolvency practitioner, the employer” in paragraph (d), there were substituted the words “in relation to an employer or, if there is no such insolvency practitioner, that employer”; and
ii
for the words “in relation to the employer, the employer” in paragraph (e), there were substituted the words “in relation to an employer, that employer”; and
d
after subsection (4) there were inserted the following subsection—
4A
Where the trustees or managers of a non-segregated scheme receive a copy of a determination notice issued by the Board under subsection (4), they must send a copy of that notice as soon as practicable to all the employers in relation to the scheme.
4
Section 124 of the Act (Board’s duty where there is a failure to comply with section 120) shall be modified so that it shall be read as if, in its application to a non-segregated scheme to which paragraph (1) or (2) of regulation 61 applies—
a
for the words “This section applies where in relation to an occupational pension scheme” at the beginning of subsection (1), there were substituted the words “This section applies where in relation to a non-segregated scheme”;
b
for the words “the employer” in paragraphs (a) and (b) of subsection (1), there were substituted the words “an employer”;
c
in subsection (4)—
i
for the words “in relation to the employer” in paragraph (d), there were substituted the words “in relation to an employer”; and
ii
for the words “in relation to the employer, the employer” in paragraph (e), there were substituted the words “in relation to an employer, that employer”; and
d
after subsection (4), there were inserted the following subsection—
4A
Where the trustees or managers of a non-segregated scheme receive a copy of notice issued by the Board under section 122 by virtue of this section, they must send a copy of that notice as soon as practicable to all the employers in relation to the scheme.
5
Section 125 of the Act (binding notices confirming status of scheme) shall be modified so that it shall be read as if, in its application to a non-segregated scheme to which paragraph (1) or (2) of regulation 61 applies—
a
in subsection (3)—
i
for the words “the employer” in paragraph (d), there were substituted the words “an employer”; and
ii
for the words “in relation to the employer, the employer” in paragraph (e), there were substituted the words “in relation to an employer, that employer”; and
b
after subsection (3), there were inserted the following subsection—
3A
Where the trustees or managers of a non-segregated scheme receive a notice from the Board under subsection (3) together with a copy of the binding notice, they must send a copy of the notice and the binding notice as soon as practicable to all the employers in relation to the scheme.