Amendment of the Pensions Regulator (Financial Support Directions etc.) Regulations 200520

In regulation 15(2) of the Pensions Regulator (Financial Support Directions etc.) Regulations 2005 (former employers)28—

a

for “A, AA, AB, B, C or D”, substitute “condition A, AA, AB, B, C, D or E”, and

b

after sub-paragraph (d), insert—

e

condition E is that—

i

as a result of a restructuring occurring within regulation 6ZB or 6ZC of the Occupational Pension Schemes (Employer Debt) Regulations 2005 (employment-cessation events: exemptions), no section 75 debt became due; and

ii

regulation 6ZA(3) or (4) of those Regulations (employment-cessation events: general) does not apply in relation to that restructuring.