12.—(1) The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006(1) are amended as follows.
(2) Omit regulation 8 (modification of section 227).
(3) In regulation 9 (modification of section 231)—
(a)for paragraph (a) substitute—
“(a)in subsection (3) for “the consumer prices index” substitute “the relevant index”; and”, and
(b)in paragraph (b), for the inserted subsection (4) substitute—
“(4) In this section “the relevant index” means—
(a)if there is an index of the movement of consumer prices maintained, or officially recognised, by the government of the country or territory in which the recognised overseas scheme is established, that index, or
(b)if there is no such index, the consumer prices index.”.
(4) In regulation 10 (modification of section 235)—
(a)for paragraph (a) substitute—
“(a)in subsection (3) for “the consumer prices index” substitute “the relevant index”; and”, and
(b)in paragraph (b), for the inserted subsection (4) substitute—
“(4) In this section “the relevant index” means—
(a)if there is an index of the movement of consumer prices maintained, or officially recognised, by the government of the country or territory in which the recognised overseas scheme is established, that index, or
(b)if there is no such index, the consumer prices index.”.
S.I. 2006/207, to which there are amendments not relevant to these Regulations.