The Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2005

Amendment of the Order

2.—(1) The Order shall be amended in accordance with paragraphs (2) to (4).

(2) In Article 7(6) (functions exercisable by the Determinations Panel) after sub-paragraph (h) there shall be inserted the following sub-paragraphs—

“(ha) Article 58(7) of that Order (power of the Regulator in prescribed circumstances to extend or further extend the period referred to in Article 58(6) of that Order(1) in relation to a schedule of contributions);

(hb) Article 60(7) of that Order (power of the Regulator in prescribed circumstances to extend or further extend the period applicable under Article 60(3) of that Order in relation to securing an increase in value);”.

(3) In Schedule 2 (the reserved regulatory functions) after paragraph 15 there shall be inserted the following paragraphs—

“15A.   The power under Article 58(7) to extend or further extend the period referred to in Article 58(6) of that Order in relation to a schedule of contributions for an occupational pension scheme.

15B.   The power under Article 60(7) to extend or further extend the period applicable under Article 60(3) of that Order in relation to securing an increase in the value of the assets of an occupational pension scheme.”.

(4) In Schedule 8 (reviewable matters) after paragraph 7 there shall be inserted the following paragraph—

“7A.   Any determination by the Board under Article 125(2) (determination on a review of an ill health pension that compensation in respect of the pension is to be determined in the prescribed manner).”.

(5) Article 7(6)(ha) and (hb) of, and paragraphs 15A and 15B of Schedule 2 to, the Order (as inserted by paragraphs (2) and (3)) shall only have effect in the case of applications made by virtue of Articles 58(7) and 60(7) of the Pensions (Northern Ireland) Order 1995(2) on or after the date on which these Regulations come into operation for the exercise of the power to extend or further extend under Article 58(7) or 60(7) of that Order.

(1)

Article 58(6) was amended by paragraph 12(1) of Schedule 2 to the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11)). See also S.R. 1996 No. 570

(2)

S.I. 1995/3213 (N.I. 22); Article 60 was amended by S.R. 2002 No. 64. See also S.R. 1996 No. 570