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Pensions (No. 2) Act (Northern Ireland) 2008

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Pensions (No. 2) Act (Northern Ireland) 2008, Section 95 is up to date with all changes known to be in force on or before 18 April 2019. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Charges in respect of pension compensation sharing costsN.I.

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95—(1) The Department may by regulations make provision for the purpose of enabling the Board to recover from the parties to pension compensation sharing prescribed charges in respect of prescribed descriptions of pension compensation sharing activity.

(2) Regulations under subsection (1) may include—

(a)provision for the start of the implementation period for a pension compensation credit to be postponed in prescribed circumstances;

(b)provision enabling the Board to set off against any PPF compensation payable to a party to pension compensation sharing any charges owed to it by that party under the regulations;

(c)provision, in relation to payments in respect of charges recoverable under the regulations, for reimbursement as between the parties to pension compensation sharing.

(3) For the purposes of regulations under subsection (1), the question of how much of a charge recoverable under the regulations is attributable to a party to pension compensation sharing is to be determined as follows—

(a)where the relevant order or provision includes provision (“provision for apportionment”) about the apportionment of charges under this section, there is attributable to the party so much of the charge as is apportioned to that party by that provision for apportionment;

(b)where the relevant order or provision does not include provision for apportionment, the charge is attributable to the transferor.

(4) In subsection (1) the reference to pension compensation sharing activity is to activity attributable directly or indirectly to the application of section 89 by virtue of the relevant order or provision.

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Commencement Information

I1S. 95 wholly in operation; s. 95 in operation for certain purposes at Royal Assent see s. 118(2); s. 95 in operation at 6.4.2011 in so far as not already in operation by S.R. 2011/108, art. 2(2), Sch.

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