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7. In regulation 1 of the Occupational Pension Schemes (Winding Up) Regulations 1996(1) (citation, commencement and interpretation)—
(a)in paragraph (4)(2), in the appropriate alphabetical place insert—
““the Board for Actuarial Standards” means the operating body of that name of the Financial Reporting Council;”; and
(b)for paragraph (5), substitute—
“(5) References in these Regulations to the guidance given in GN 19 are to the guidelines on winding up and scheme asset deficiency (GN 19), adopted or prepared, and from time to time revised, by the Board for Actuarial Standards and approved for the purposes of these Regulations by the Secretary of State, as they apply as respects schemes of the description in question with such revisions as have been so approved as at the date on which the valuation in question is made.”.
Regulation 1(4) is substituted by S.I. 2000/2691.
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