PART 12Scheme Administration

Scheme accounts41.

(1)

This regulation applies where, before the appointed day—

(a)

benefits under an occupational pension scheme included benefits which are not money purchase benefits; and

(b)

the trustees or managers of the scheme treated those benefits as if they were money purchase benefits.

(2)

Where this regulation applies, no provision of Part 4 of the Act or of these Regulations affects the validity of scheme accounts prepared in relation to any period before the appointed day.