The Industrial and Provident Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014

Modified application of the Pension Protection Fund (Entry Rules) Regulations 2005

2.—(1) In the Pension Protection Fund (Entry Rules) Regulations 2005(1) regulation 6 (circumstances in which insolvency proceedings in relation to the employer are stayed or come to an end) and regulation 9 (confirmation of scheme status by insolvency practitioner) apply in relation to a relevant society, and for that purpose have effect with the following modifications.

(2) In regulation 6, in paragraph (1)(a), except paragraphs (iv), (v) and (vi)—

(a) a reference to a company includes a reference to a relevant society;

(b) a reference to a provision of the 1986 Act or the Insolvency Rules 1986 is a reference to that provision as applied in relation to a relevant society; and

(c) in paragraph (ii) the reference to the directors of the company is a reference to the members of the committee of the society.

(3) In regulation 9 a reference to a company includes a reference to a relevant society.

(1)

S.I. 2005/590; relevant amending instruments are S.I. 2005/993; 2005/2153 and 2009/451.