2018 No. 988
The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018
Made
Laid before Parliament
Coming into force in accordance with regulation 1
The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by sections 113(1), (6) and (7), 181(1), 182(2) and (3) and 183(1) of the Pension Schemes Act 1993 M1, sections 35(4), 36(1), (1A)(a) and (9), 124(1) and 174(2) and (3) of the Pensions Act 1995 M2, and sections 307(1)(b), 315(2), (4) and (5) and 318(1) of, and paragraph 33(1) of Schedule 7 to, the Pensions Act 2004 M3.
In relation to regulations 1 to 3, except as set out below, the Secretary of State for Work and Pensions has consulted such persons as the Secretary of State considers appropriate in accordance with section 317(1) of the Pensions Act 2004.
In accordance with section 317(2)(b) of that Act, the exception at the beginning of regulation 30(5) and the whole of regulation 30(4) of the new Part 13 of the Pension Protection Fund (Compensation) Regulations 2005 M4 (as inserted by regulation 2(3) of these Regulations) have not been subject to consultation, because it appears to the Secretary of State that by reason of urgency consultation is inexpedient.
In relation to regulations 1 and 5, in accordance with section 113(9) of the Pension Schemes Act 1993 M5, the Secretary of State has consulted with the Financial Conduct Authority and the Treasury. In accordance with section 185(1) of the Pension Schemes Act 1993 M6 and section 120(1) of the Pensions Act 1995, the Secretary of State has consulted such persons as the Secretary of State considers appropriate.
1995 c. 26. Section 35 was substituted by section 244 of the Pensions Act 2004 (c. 35) (“the 2004 Act”); section 36(1) and (1A) was substituted by section 245(2) of the 2004 Act and section 36(9) was inserted by section 245(6) of that Act; section 124(1) is cited for the meaning given to “prescribed” and “regulations”.
2004 c. 35. Section 307 was amended by section 31(2) of the Pensions Act 2011 (c. 19) and by section 46 of, and paragraphs 23 and 37 of Schedule 2 to, the Pension Schemes Act 2015 (c. 8); section 318(1) is cited for the meaning given to “prescribed” and “regulations”; paragraph 33 of Schedule 7 was amended by paragraph 15 of Schedule 8 to the Pensions Act 2008 (c. 30).
Section 113(9) was inserted by section 44(1) of the 2014 Act.
Section 185(1) was amended by sections 122 and 151 of, and paragraph 46 of Schedule 3 to, the 1995 Act and by paragraph 80(a) of Schedule 5 to that Act.
1993 c. 48. Section 113(1) was amended by section 52(1) of the Child Support, Pensions and Social Security Act 2000 (c. 19); section 113(6) and (7) was inserted by section 44(1) of the Pensions Act 2014 (c. 19) (“the 2014 Act”); section 181(1) is cited for the meaning given to “prescribe” and “regulations”; section 183(1) was amended by Parts 3 and 4 of Schedule 7 to the Pensions Act 1995 (c. 26) (“the 1995 Act”).