Amendment of the Occupational Pension Schemes (Employer Debt) Regulations 20052
1
The Occupational Pension Schemes (Employer Debt) Regulations 20053 are amended as follows.
2
In regulation 2(1) (interpretation), for paragraph (f) of the definition of “scheme apportionment arrangement”4, substitute—
f
each of the following persons consents to—
i
the trustees or managers, and either
ii
(where the circumstances referred to in paragraph (b) apply) any remaining employer to whom all or part of the amount that would have been the employer’s liability share is being apportioned, or
iii
(where the circumstances referred to in paragraph (b) do not apply) the employer; and
3
For regulation 7A(1)(b) (regulated apportionment arrangements)5, substitute—
b
where an assessment period has not already commenced, each of the following persons agrees to the arrangement—
i
the trustees of the scheme, and either
ii
where the employer’s liability share is increased, the employer, or
iii
where the employer’s liability share is reduced, any remaining employer to whom all or part of the amount that would have been the employer’s liability share is being apportioned;
4
In regulation 16(2) (modification of schemes: apportionment of section 75 debt)6, for “regulation 6(2)”, substitute “regulation 6(2)(a) or (b)”.