[F1Calculation of amounts due from guarantors by virtue of regulation 7U.K.
7B.—(1) For the purposes of regulation 7(3), amount B depends on whether the approved withdrawal arrangement provides for amount B to be the amount provided for under paragraph (2).
(2) If the approved withdrawal arrangement so provides, amount B is equal to the amount (if any) that would be the amount of the debt due from the cessation employer under section 75(4) of the 1995 Act if—
(a)the employment-cessation event had occurred at the guarantee time;
(b)the cessation employer had not entered into an approved withdrawal arrangement; and
(c)there were no cessation expenses attributable to the employer.
(3) If the approved withdrawal arrangement does not provide for amount B to be the amount provided for under paragraph (2), amount B is equal to the amount that would be the amount treated as due from the cessation employer under section 75(4) of the 1995 Act if the cessation employer had not entered into an approved withdrawal arrangement, less the sum of—
(a)the amount that is amount A for the purposes of regulation 7(3);
(b)if the amount that the approved withdrawal arrangement provides for the cessation employer to pay exceeds that amount, an amount equal to the excess; and
(c)the relevant transferred liabilities deduction.
(4) The value of the assets and the amount of the liabilities of a scheme which are to be taken into account for the purposes of determining the amount (if any) that would be the amount of the debt due from the cessation employer under section 75(4) of the 1995 Act in the case mentioned in paragraph (2) must be certified by the actuary in the form set out in Schedule 1 to these Regulations, but—
(a)substituting for the reference to regulation 5 a reference to paragraph (2) of this regulation;
(b)if the actuary is of the opinion that the value of the assets of the scheme was not less than the amount of the liabilities of the scheme—
(i)substituting in the first sentence of the comparison of value of scheme assets with amount of scheme liabilities for the words “was less” the words “was not less”; and
(ii)omitting the last sentence of that comparison; and
(c)if the scheme is being wound up on the date as at which the valuation is made, omitting from the Note the words from “if the scheme” onwards.
(5) In this regulation—
“the cessation expenses attributable to the employer” has the meaning given by regulation 6(5); and
“the relevant transferred liabilities deduction” has the meaning given by regulation 6(6), as inserted by the modification of regulation 6 made by regulation 7A(5)(b), except that for the purposes of this regulation the amount of the relevant transferred liabilities is to be calculated in accordance with regulation 5 without the modifications made by regulation 7A(4).]
Textual Amendments
F1 Regs. 7 7A substituted for reg. 7 (6.4.2008) by The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2008 (S.I. 2008/731), regs. 2(1), 8 (with reg. 2(3)-(8))