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United Kingdom Statutory Instruments


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STATUTORY INSTRUMENTS


2005 No. 993

PENSIONS

The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005

  Made 30th March 2005 
  Laid before Parliament 31st March 2005 
  Coming into force 1st April 2005 

The Secretary of State for Work and Pensions, in exercise of the powers conferred upon him by sections 60(2), 124(1) and 174(3) of the Pensions Act 1995[1] and sections 38(1)(b), 52(1)(b), 122(5)(a) and (8), 126(1)(b) and (5), 129(8), 135(4), 139(6), 140(6), 141(2) and (6), 143(4) and (11)(a)(i), 146(1), 150(5) and (6)(a), 151(4)(b)(ii), (8)(b) and (9)(b), 207(1), (2) and (5)(b), (d) and (e), 307(1)(b) and (2)(b), 315(2), (4) and (5) and 318(1) and (4)(a) of, and paragraph 23(1)(a), (2)(a) and (b) of Schedule 7 to, the Pensions Act 2004[2], and of all other powers enabling him in that behalf, by this instrument, which contains regulations consequential on section 271 of the Pensions Act 2004 and also contains regulations made before the end of the period of six months beginning with the coming into force of section 271 and the provisions of that Act by virtue of which they are made[3], hereby makes the following Regulations:

Citation, commencement and interpretation
     1.  - (1) These Regulations may be cited as the Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 and shall come into force on 1st April 2005 immediately after regulation 2 of the Entry Rules Regulations comes into force.

    (2) In these Regulations - 

Amendment of the Compensation Regulations
     2. In the Compensation Regulations, in regulation 5(b) (amount and duration of periodic compensation in the case of relevant partners), for "paragraph 6(3) and (4)" substitute "paragraph 6(2) and (3)".

Amendment of the Employer Debt Regulations
    
3. In the Employer Debt Regulations, in paragraph 1(2) of Schedule 2 (consequential amendments: the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996)[11], for "In regulation 2(2)" substitute "In regulation 2(4) (interpretation)".

Amendment of the Entry Rules Regulations
     4. In the Entry Rules Regulations - 

Amendment of the Multi-employer Regulations
    
5.  - (1) The Multi-employer Regulations shall be amended in accordance with the following paragraphs of this regulation.

    (2) In Part 1 (preliminary), in regulation 1(3)(a) and (b) (citation, commencement and interpretation), after "in the description", in both places where those words appear, omit "or category".

    (3) In Part 2 (segregated schemes: single employer sections) - 

    (4) In Part 3 (segregated schemes: multi-employer sections without requirement for partial wind up on withdrawal of participating employer) - 

    (5) In Part 4 (segregated schemes: non-segregated multi-employer sections of segregated schemes with requirement for partial wind up on withdrawal of participating employer) - 

    (6) In Part 5 (non-segregated schemes: schemes with a requirement for partial wind up on the withdrawal of a participating employer) - 

    (7) In Part 6 (non-segregated schemes: schemes without provision for partial wind up on withdrawal of a participating employer) - 

    (8) In Part 7 (non-segregated scheme with an option to segregate on the withdrawal of a participating employer), in regulation 71 (application and effect) - 

    (9) In Part 8 (segregated schemes: multi-employer sections of segregated schemes with an option to segregate on the withdrawal of a participating employer), in regulation 72(3)(c)(ii) (application and effect), for "substituted" substitute "inserted".

    (10) In Part 9 (multi-employer schemes: the pension protection levies) - 

Amendment of the Review and Reconsideration Regulations
    
6. In the Review and Reconsideration Regulations - 

Amendment of the Reviewable Ill Health Pensions Regulations
    
7. In the Reviewable Ill Health Pensions Regulations - 

Amendment of the Valuation Regulations
    
8. In the Valuation Regulations - 

Consequential Amendment of the Pensions Regulator (Contribution Notices and Restoration Orders) Regulations 2005
    
9. In regulation 3 of the Pensions Regulator (Contribution Notices and Restoration Orders) Regulations 2005[12] (prescribed schemes) - 



Signed by authority of the Secretary of State for Work and Pensions.


Malcolm Wicks
Minister of State, Department for Work and Pensions

30th March 2005



EXPLANATORY NOTE

(This note is not part of the Regulations)


These Regulations make minor amendments and correct certain cross references in the Pension Protection Fund (Compensation) Regulations 2005 (S.I. 2005/670) ("the Compensation Regulations"), the Occupational Pension Schemes (Employer Debt) Regulations 2005 (S.I. 2005/678) ("the Employer Debt Regulations"), the Pension Protection Fund (Entry Rules) Regulations 2005 (S.I. 2005/590) ("the Entry Rules Regulations"), the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441) ("the Multi-employer Regulations"), the Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations 2005 (S.I. 2005/669) ("the Review and Reconsideration Regulations"), the Pension Protection Fund (Reviewable Ill Health Pensions) Regulations 2005 (S.I. 2005/652) ("the Reviewable Ill Health Pensions Regulations"), the Pension Protection Fund (Valuation) Regulations 2005 (S.I. 2005/672) ("the Valuation Regulations"), and the Pensions Regulator (Contribution Notices and Restoration Orders) Regulations 2005 (S.I. 2005/931). These Regulations will be issued free of charge to all known recipients of those Statutory Instruments.

Regulation 2 amends regulation 5(b) of the Compensation Regulations to correct a defective cross reference to the Pensions Act 2004 (c.35).

Regulation 3 amends paragraph 1(2) of Schedule 2 to the Employer Debt Regulations to correct defective cross references.

Regulation 4 amends certain provisions of the Entry Rules Regulations and corrects a defective reference.

Regulation 5 similarly amends the Multi-employer Regulations.

Regulation 6 amends regulation 19 of the Review and Reconsideration Regulations to provide that the Reconsideration Committee must notify the Board of the Pension Protection Fund as well as any interested persons when it decides to reconsider a reviewable matter otherwise than on an application. It also makes further minor amendments including those consequential on the amended regulation 19.

Regulation 7 makes minor amendments to regulations 9 and 14 of the Reviewable Ill Health Pensions Regulations.

Regulation 8 similarly amends regulations 6 and 9 of the Valuation Regulations.

Regulation 9 makes an amendment to the Pensions Regulator (Contribution Notices and Restoration Orders) Regulations 2005, which is consequential upon an amendment to one of the provisions of the Entry Rules Regulations made in regulation 4.

As these Regulations are made before the expiry of the period of six months beginning with the coming into force of the provisions of the Pensions Act 2004 by virtue of which they are made or, in the case of the amendment to the Employer Debt Regulations, on which they are consequential, the requirement for the Secretary of State to consult such persons as he considers appropriate does not apply.

A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of business.


Notes:

[1] 1995 c.26. Section 124(1) is cited for the meaning there given to "prescribed" and "regulations".back

[2] 2004 c.35. The Pensions Act 2004 ("the Act") is modified in its application to partially guaranteed schemes by the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (S.I. 2005/277), in its application to multi-employer schemes by the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441), and in its application to hybrid schemes by the Pension Protection Fund (Hybrid Schemes) (Modification) Regulations 2005 (S.I. 2005/449). Section 318(1) is cited because of the meaning there given to "modifications", "prescribed" and "regulations".back

[3] See section 120 of the Pensions Act 1995 which provides that the Secretary of State must consult such persons as he considers appropriate before making regulations for the purposes of the provisions for the purposes of which these Regulations are made. This duty does not apply where regulations are made before the end of the period of six months beginning with the coming into force of any enactment on which the regulations are consequential. See also section 317 of the Act, which provides that the Secretary of State must consult such persons as he considers appropriate before making regulations by virtue of the provisions of the Act (other than Part 8). This duty does not apply where regulations are made before the end of the period of six months beginning with the coming into force of the provisions of the Act by virtue of which the regulations are made.back

[4] S.I. 2005/670.back

[5] S.I. 2005/678.back

[6] S.I. 2005/590.back

[7] S.I. 2005/441.back

[8] S.I. 2005/669.back

[9] S.I. 2005/652.back

[10] S.I. 2005/672.back

[11] S.I. 1996/1536. Regulation 2 was amended by S.I. 2000/2691 and S.I. 2004/3031.back

[12] S.I. 2005/931.back



ISBN 0 11 072734 7


 © Crown copyright 2005

Prepared 6 April 2005


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URL: http://www.bailii.org/uk/legis/num_reg/2005/20050993.html