Amendment of the Entry Rules Regulations4

In the Entry Rules Regulations—

a

in regulation 2 (schemes which are not eligible schemes)—

i

omit paragraph (1)(e);

ii

in paragraph (1)(f), for the words “but which is not”, substitute the words “but which is neither a tax approved scheme nor”;

iii

in paragraph (1)(i), for “the 1998 Act” substitute “the 1988 Act”; and

iv

in paragraph (2), for “paragraphs (4) and (5)” substitute “paragraphs (3) and (4)”;

b

in regulation 8(3)(c) (applications and notifications to the Board – further provision), for “notice is issued.;” substitute “notice is issued;”;

c

in regulation 9(1) (confirmation of scheme status by insolvency practitioner)—

i

for “the scheme” substitute “an occupational pension scheme”; and

ii

in paragraph (b)(i), for “there as been” substitute “there has been”;

d

in regulation 13(1) (confirmation of scheme status – binding notices)—

i

for “a scheme” substitute “an occupational pension scheme”; and

ii

for “(insolvency practitioners duty to issue notices confirming status of scheme)”, substitute “(insolvency practitioner’s duty to issue notices confirming status of scheme)”;

e

in regulation 16 (restrictions on winding up, discharge of liabilities etc)—

i

in paragraph (1)(a) and (b), for “trustees or managers of the scheme” in each place where those words appear, substitute “trustees or managers of an eligible scheme”; and

ii

in paragraph (2), for “a scheme”, in each place where those words appear, substitute “an eligible scheme”;

f

in regulation 18 (loans to pay scheme benefits)—

i

in paragraph (3), in the definition of “reference banks”, after “accept deposits,” at the end of paragraph (a) insert “and”;

ii

in paragraph (4), for “Paragraph (3)(b) above” substitute “In paragraph (3), paragraph (b) of the definition of “reference banks””;

g

in regulation 20 (consequences of the Board ceasing to be involved with a scheme)—

i

in paragraph (1), for “following a the issue” substitute “following the issue”; and

ii

in paragraph (2), for “scheme rules” substitute “the scheme rules”;

h

in regulation 21 (refusal to assume responsibility – schemes which become eligible schemes)—

i

in paragraph (1), for “referred to in section 144(1) of the Act” substitute “referred to in section 146(1) of the Act”; and

ii

in paragraph (1)(b), for “ending on” substitute “ending with”;

i

in regulation 24(1)(b)(ii) (applications for reconsideration), for “on any day” substitute “with any day”; and

j

in the Schedule (contents of accounts audited by the auditor of the scheme)—

i

in paragraph 2(1)(b), for “investment” substitute “investments”;

ii

in paragraph 2(3)—

aa

in paragraph (a), for “additional voluntary contributions” substitute “voluntary contributions”; and

bb

for “paragraph (a) and (b)” substitute “paragraphs (a) and (b)”; and

iii

in paragraph 8, for ““Financial Reports of Pension Scheme”” substitute ““Financial Reports of Pension Schemes””.