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19(1)Despite article A3 of the 1999 pensions order, the scheme for making additional voluntary contributions set out in Part R of (and Schedule 6 to) the 1999 scheme rules is to continue to have effect with the following modifications—
(a)all the SPCB’s functions, rights, liabilities and obligations in relation to the AVC scheme are transferred to and vest in the Fund trustees,
(b)no individual may become a contributor to the AVC scheme after the new rules day (and sub-paragraphs (1) and (3) of paragraph 3 of Schedule 6 is accordingly to cease to have effect),
(c)in paragraph 3(2) of Schedule 6, the words from “but” to “participant” are to cease to have effect,
(d)no transfers may be made to the AVC scheme after the new rules day (and paragraph 4 (4) of Schedule 6 is accordingly to cease to have effect),
(e)in paragraph 9 of Schedule 6—
(i)in sub-paragraph (1)(a), for the words from “an” to “1993” substitute “another pension scheme subject to that transfer being a recognised transfer for the purposes of section 169 of the Finance Act 2004 (c. 12)”, and
(ii)in sub-paragraph (1)(c), for “2 years” substitute “3 months”,
(f)paragraphs 10 and 11 of Schedule 6 are to cease to have effect.
(2)New scheme rule 3 does not apply in relation to benefits payable and AVC contributions received under the AVC scheme.
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Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills
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