The Pension Protection Fund (Reviewable Matters) Regulations 2005

Modification of Schedule 9 to the Act

3.  In relation to a partially guaranteed scheme, Schedule 9 to the Act applies as if—

(a) in paragraph 8 (failure by the Board to obtain an actuarial valuation), after the word “valuation” there were inserted the words “of the unsecured part”(1);

(b) in paragraph 9 (approval, or failure to approve, a valuation), after the word “respect” there were inserted the words “of the unsecured part”;

(c) after paragraph 15 (failure by the Board to give a transfer notice), there were inserted the following paragraphs—

“15A.   The failure by the Board to obtain an actuarial valuation of the assets and protected liabilities of the unsecured part of an eligible scheme under section 160(4A)(2).

15B.   The approval of, or failure to approve, a valuation of the assets and protected liabilities of the unsecured part of an eligible scheme under section 144(2) as applied for the purposes of section 160(4A)(3).”.

(1)

See section 318(1) of the Act as modified by regulation 11 of S.I. 2005/277.

(2)

Section 160(4A) is inserted by S.I.2005/277.

(3)

See regulation 10(1)(b) of S.I.2005/277.