- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
The Occupational Pension Schemes(Winding Up) Regulations 1996
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Changes to legislation:
The Occupational Pension Schemes(Winding Up) Regulations 1996, Section 5 is up to date with all changes known to be in force on or before 30 April 2024. 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.
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Changes and effects yet to be applied to Regulation 5:
- Instrument saved by S.I. 1997/784 reg.8
Modification of schemes to fix time for settling priority of liabilities on winding upE+W+S
5.—(1) The trustees of a trust scheme may by resolution modify the scheme with a view to fixing or providing for the fixing of the time when the paragraph of [F1section 73(4)] into which the liability in respect of any person falls is to be determined for the purposes of [F2section 73(3) and (4)] or of any priority rule of the scheme, in the event of a determination (whether in pursuance of section 38 or otherwise) that the scheme is not for the time being to be wound up, despite rules otherwise requiring it to be so.
(2) That time must be—
(a)on or after the date of the resolution and of any such determination to defer winding up, and
(b)before the date on which the scheme begins to be wound up.
(3) In paragraph (1) “priority rule" means a rule of the scheme requiring the trustees to apply the assets of the scheme on a winding up in satisfying the amounts of certain liabilities to or in respect of members before other such liabilities.
Textual Amendments
F1Words in reg. 5 substituted (6.4.2005) by Occupational Pension Schemes (Winding Up etc.) Regulations 2005 (S.I. 2005/706), reg. 1(2), Sch. para. 3(a) (with Sch. para. 3)
F2Words in reg. 5 substituted (6.4.2005) by Occupational Pension Schemes (Winding Up etc.) Regulations 2005 (S.I. 2005/706), reg. 1(2), Sch. para. 3(b) (with Sch. para. 3)
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