The Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations (Northern Ireland) 2005

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations (Northern Ireland) 2005 and shall come into operation on 6th April 2005.

(2) In these Regulations –

“the Order” means the Pensions (Northern Ireland) Order 2005 and any reference to a numbered Article or Schedule is a reference to the Article of, or the Schedule to, the Order bearing that number;

“employer”, in relation to an occupational pension scheme that has no active members, includes every person who was the employer of persons in the description of employment to which the scheme relates immediately before the time at which the scheme ceased to have any active members in relation to it;

“employer”, in relation to a multi-employer scheme, or a section of a multi-employer scheme, includes –

(a)

in the case of a scheme that has no active members, every person who was the employer of persons in the description of employment to which the scheme, or section, relates immediately before the time at which the scheme, or section, ceased to have any active members in relation to it unless, after that time –

(i)

a debt under Article 75 of the 1995 Order(1) (deficiencies in the assets) becomes due from that person to the scheme, or section, and

(ii)

either –

(aa)

the full amount of the debt has been paid by that person to the trustees or managers of the scheme, or section, or

(bb)

in circumstances where a legally enforceable agreement has been entered into between that person and the trustees or managers of the scheme, or section, the effect of which is to reduce the amount which is payable in respect of the debt, the reduced amount of the debt has been paid in full by that person to those trustees or managers; and

(b)

in any other case, any person who has ceased to be the employer of persons in the description of employment to which the scheme, or section, relates unless –

(i)

at the time when he so ceased, the scheme, or section was not being wound up and continued to have active members in relation to it; and

(ii)

a debt under Article 75 of the 1995 Order became due at that time from that person to the scheme, or section, and either –

(aa)

the full amount of the debt has been paid by that person to the trustees or managers of the scheme, or section, or

(bb)

in circumstances where a legally enforceable agreement has been entered into between that person and the trustees or managers of the scheme, or section, the effect of which is to reduce the amount which is payable in respect of the debt, the reduced amount of the debt has been paid in full by that person to those trustees or managers;

“interested person” means, in relation to a reviewable matter specified in any paragraph in column 1 of the Schedule to these Regulations, the person prescribed in relation to that matter in the corresponding paragraph in column 2 or, as the case may be, a representative of that person appointed under regulation 28.

(1)

Article 75 is amended by Article 248 of the Pensions (Northern Ireland) Order 2005