3.—(1) Where a scheme is a qualifying pension scheme for the purposes of the FAS Regulations by virtue of these Regulations, that scheme—
(a)is not an eligible scheme for the purposes of section 126(1)(b) of the Pensions Act 2004 or Article 110(1)(b) of the Pensions (Northern Ireland) Order 2005(1) (eligible schemes); and
(b)remains a qualifying pension scheme for the purposes of the FAS Regulations if, on or after 23rd December 2008, there is an insolvency event in relation to the relevant employer which would be a qualifying insolvency event for the purposes of section 127 of that Act or Article 111 of that Order (duty to assume responsibility for schemes following insolvency event) if the scheme were such an eligible scheme.
(2) In paragraph (1), “relevant employer” means the employer in relation to the scheme or, in relation to a multi-employer scheme, any employer or employers in relation to the scheme.