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1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Contracting-out) (Amount Required for Restoring State Scheme Rights) Amendment Regulations 2007.
(2) These Regulations come into force on 6th April 2007.
(3) Regulations 2 and 3 apply if the effective date is on or after 6th April 2007.
(4) In paragraph (3) “the effective date” means—
(a)in the case of regulation 2, the date on which Her Majesty’s Revenue and Customs determine for the purposes of paragraph 5(3A) to (3E) of Schedule 2 to the Pension Schemes Act 1993 (resources of scheme insufficient on winding up) 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 Her Majesty’s Revenue and Customs determine for the purposes of paragraph 5(3A) to (3E) of Schedule 1 to the Pension Schemes (Northern Ireland) Act 1993 (resources of scheme insufficient on winding up) 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.
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