The Pensions Act 2004 (Commencement No. 10 and Saving Provision) Order 2006

Saving

3.—(1) The definition of “minimum funding requirement” in section 124(1) of the Pensions Act 1995(1) (interpretation of Part 1 of that Act) continues to apply to a scheme from 6th April 2007 until the date on which the first schedule of contributions under the Act comes into force for that scheme.

(2) Any reference to “minimum funding requirement” in—

(a) the Occupational Pension Schemes (Winding Up) Regulations 1996(2);

(b) the Occupational Pension Schemes (Deficiency on Winding Up etc.) Regulations 1996(3), or

(c) the Occupational Pension Schemes (Employer Debt) Regulations 2005(4),

continues to apply to a scheme on and after 6th April 2007 as if the repeal of the definition of that provision in section 124(1) of the Pensions Act 1995 by the Act had not come into force on that date in accordance with this Order.

(3) In this article—

“schedule of contributions” has the meaning given by section 227(2) of the Act (schedule of contributions);

“scheme”—

(a)

must be read in accordance with regulation 2(2) of the Occupational Pension Schemes (Scheme Funding) Regulations 2005(5) (interpretation); and

(b)

is one to which—

(i)

paragraph 9; or

(ii)

paragraph 19,

of Schedule 4 to those Regulations (savings) applies.

(1)

1995 c.26.

(2)

S.I. 1996/3126; the relevant amending instrument is S.I. 2005/3377.

(3)

S.I. 1996/3128, amended by S.I. 1997/786 and 3038, 1999/3198, 2002/380, 2004/403, 2005/72 and 678.

(4)

S.I. 2005/678, amended by S.I. 2005/2224.

(5)

S.I. 2005/3377, to which there are amendments not relevant to this Order.