The Occupational Pension Schemes (Contracting-out) (Amount Required for Restoring State Scheme Rights) Amendment Regulations 2005

Citation, commencement, interpretation and application

1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Contracting-out) (Amount Required for Restoring State Scheme Rights) Amendment Regulations 2005.

(2) These Regulations come into force on 21st April 2005.

(3) Regulations 2 and 3 apply if the effective date is on or after 21st April 2005.

(4) In paragraph (3) “the effective date” means—

(a) in the case of regulation 2, the date on which the Commissioners of Inland Revenue determine for the purposes of paragraph 5(3A) to (3E) of Schedule 2 (resources of scheme insufficient on winding up) to the Pension Schemes Act 1993 the extent to which the resources of a scheme are insufficient to meet the liability for the cash equivalent of the member’s rights under the scheme; and

(b) in the case of regulation 3, the date on which the Commissioners of Inland Revenue determine for the purposes of paragraph 5(3A) to (3E) of Schedule 1 (resources of scheme insufficient on winding up) to the Pension Schemes (Northern Ireland) Act 1993 the extent to which the resources of a scheme are insufficient to meet the liability for the cash equivalent of the member’s rights under the scheme.

(5) This regulation, in so far as it relates to regulation 2, and regulation 2 apply to England, Wales and Scotland.

(6) This regulation, in so far as it relates to regulation 3, and regulation 3 apply to Northern Ireland.