There are currently no known outstanding effects for the The Occupational Pension Schemes (Levies) Regulations 2005, Section 7.
7.—(1) This regulation applies if a scheme that is not an eligible scheme at the beginning of a financial year becomes such a scheme during that year.
(2) The amount of [F1the administration levy] payable in respect of the scheme for that year is such proportion of the full amount so payable as the period beginning with the date on which it becomes such a scheme and ending with the financial year bears to the whole financial year.
[F2(3) Where a scheme to which this regulation applies becomes an eligible scheme during a financial year by virtue of—
(a)regulation 2(1A) of the Pension Protection Fund (Entry Rules) Regulations 2005 (schemes which are not eligible schemes); or
(b)regulation 2A of the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (schemes to which paragraph (1) of regulation 2 does not apply),
paragraph (2) does not apply to the scheme (and so the full amount of the administration levy is payable).]
Textual Amendments
F1Words in reg. 7(2) substituted (1.4.2007) by Occupational Pension Schemes (Levies) (Amendment) Regulations 2007 (S.I. 2007/994), regs. 1(3), 2(7)
F2Reg. 7(3) inserted (29.7.2010) by Occupational Pension Schemes (Levies) (Amendment) Regulations 2010 (S.I. 2010/1930), regs. 1, 2(2)
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