PART 11Payment of surplus funds to employer
InterpretationI136
1
In this Part—
“employer” has the meaning given by section 124(1) of the 1995 Act; and
“the Payments to Employer Regulations” means the Occupational Pension Schemes (Payments to Employer) Regulations 200671.
2
Where—
a
a trust scheme in relation to which there is more than one employer is divided into two or more sections; and
b
the provisions of the scheme meet the conditions specified in regulation 18(1)(b) of the Payments to Employer Regulations (schemes with more than one employer),
this Part applies as if each section of the scheme were a separate scheme.