http://www.legislation.gov.uk/uksi/2007/865/regulation/3The Pension Protection Fund (Closed Schemes) Regulations 2007texttext/xmlenStatute Law DatabasePENSIONS2017-11-14Expert Participation2013-01-24 These Regulations make provision relating to various requirements under sections 153, 156 and 157 of the Pensions Act 2004 (c.35) (“the Act”) in relation to closed schemes. Obtaining of actuarial valuations of closed schemes31In this regulation—the determination date” means the date immediately after—the expiry of the period within which the issue of the determination notice may be reviewed by virtue of Chapter 6 of Part 2 of the Act (reviews, appeals and maladministration); orif the issue of the notice is so reviewed—the review and any reconsideration;any reference to the PPF Ombudsman in respect of the issue of the notice; andany appeal against his determination or directions,has been finally disposed of and the notice has not been revoked, varied or substituted;“the relevant period” is the period of three years beginning immediately after the relevant time of the Board’s determination under section 143(2)(a) or actuarial valuation of the scheme under section 143(2)(b) (Board's obligation to obtain valuation of assets and protected liabilities);the relevant time” shall be construed in accordance with section 143(11)(c); and...2The effective date of the first section 156 valuation shall—abe within the relevant period; orbwhere the determination date did not fall within the relevant period, be within the period of 15 months beginning on the determination date.3Any subsequent section 156 valuation shall have an effective date which is not more than three years after the effective date of the previous section 156 valuation.4The trustees or managers of a closed scheme shall obtain any section 156 valuation of the scheme within the period of 15 months after its effective date.Words in reg. 3(1) substituted (24.1.2013) by The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012 (S.I. 2012/3083), regs. 1(2)(b), 8(a), 9(1)(h)(2) (with reg. 10)Words in reg. 3(1) omitted (24.1.2013) by virtue of The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012 (S.I. 2012/3083), regs. 1(2)(b), 8(b), 9(1)(h)(2) (with reg. 10)
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<dc:title>The Pension Protection Fund (Closed Schemes) Regulations 2007</dc:title>
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<dc:description>These Regulations make provision relating to various requirements under sections 153, 156 and 157 of the Pensions Act 2004 (c.35) (“the Act”) in relation to closed schemes.</dc:description>
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<Title>Obtaining of actuarial valuations of closed schemes</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/uksi/2007/865/regulation/3" IdURI="http://www.legislation.gov.uk/id/uksi/2007/865/regulation/3" id="regulation-3">
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<Text>In this regulation—</Text>
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any reference to the
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“the relevant period” is the period of three years beginning immediately after the relevant time of the
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<Text>The effective date of the first section 156 valuation shall—</Text>
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<Text>
Words in
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substituted (24.1.2013) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2012/3083" id="crlpfw5z2-00009" Class="UnitedKingdomStatutoryInstrument" Year="2012" Number="3083" Title="The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012">The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012 (S.I. 2012/3083)</Citation>
,
<CitationSubRef id="crlpfw5z2-00010" CitationRef="crlpfw5z2-00009" SectionRef="regulation-1-2-b" URI="http://www.legislation.gov.uk/id/uksi/2012/3083/regulation/1/2/b">regs. 1(2)(b)</CitationSubRef>
,
<CitationSubRef id="crlpfw5z2-00011" CitationRef="crlpfw5z2-00009" SectionRef="regulation-8-a" URI="http://www.legislation.gov.uk/id/uksi/2012/3083/regulation/8/a" Operative="true">8(a)</CitationSubRef>
,
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(with
<CitationSubRef id="crlpfw5z2-00014" CitationRef="crlpfw5z2-00009" SectionRef="regulation-10" URI="http://www.legislation.gov.uk/id/uksi/2012/3083/regulation/10">reg. 10</CitationSubRef>
)
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<Text>
Words in
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omitted (24.1.2013) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2012/3083" id="crlpfw5z2-00023" Class="UnitedKingdomStatutoryInstrument" Year="2012" Number="3083" Title="The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012">The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012 (S.I. 2012/3083)</Citation>
,
<CitationSubRef id="crlpfw5z2-00024" CitationRef="crlpfw5z2-00023" SectionRef="regulation-1-2-b" URI="http://www.legislation.gov.uk/id/uksi/2012/3083/regulation/1/2/b">regs. 1(2)(b)</CitationSubRef>
,
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,
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(with
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)
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