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The Personal and Occupational Pension Schemes (Amendment) Regulations (Northern Ireland) 2008

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Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Personal and Occupational Pension Schemes (Amendment) Regulations (Northern Ireland) 2008 and shall come into operation on 1st October 2008.

(2) The Interpretation Act (Northern Ireland) 1954(1) shall apply to these Regulations as it applies to an Act of the Assembly.

Amendment of the Personal and Occupational Pension Schemes (Protected Rights) Regulations

2.  In regulation 12(11) of the Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 1997(2) (death of scheme member before effect given to his protected rights)—

(a)at the end of sub-paragraph (a) insert “and”;

(b)at the end of sub-paragraph (b) omit “and”;

(c)omit sub-paragraph (c).

Amendment of the Personal Pension Schemes (Appropriate Schemes) Regulations

3.—(1) The Personal Pension Schemes (Appropriate Schemes) Regulations (Northern Ireland) 1997(3) shall be amended in accordance with paragraphs (2) to (9).

(2) In regulation 1(2)(4) (interpretation) omit the definitions of “the 2000 Act”, “deposit-taker”, “EEA State”, “Friendly Society”, “home state regulator”, “open-ended investment company”, “recognised scheme”, “UCITS” and “unit trust scheme”.

(3) For regulation 2(5) (forms of schemes which may be appropriate schemes) substitute—

“Schemes which may be appropriate schemes

2.  A personal pension scheme can be an appropriate scheme only if it is a scheme which is, or is treated as, registered under section 153 of the Finance Act 2004(6).”.

(4) Omit regulation 3(7) (persons who and bodies which may establish schemes).

(5) In regulation 4(1) (requirements in respect of an application for an appropriate scheme certificate) omit sub-paragraphs (e) and (f).

(6) In regulation 6(b) (requirement to give information)—

(a)at the end of sub-paragraph (ii) insert “and”;

(b)omit sub-paragraph (iii).

(7) Omit regulation 18 (cancellation of membership of interest-bearing account-funded appropriate schemes).

(8) Omit Schedule 1(8) (kinds of unit trust scheme that may be an appropriate scheme).

(9) Omit Schedule 2 (information to be included in notice).

Revocations

4.  The Regulations specified in column (1) of the Schedule are revoked to the extent mentioned in column (3).

Sealed with the Official Seal of the Department for Social Development on 3rd September 2008

(L.S.)

John O’Neill

A senior officer of the Department for Social Development

Yn ôl i’r brig

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