PART IISTAKEHOLDER PENSION SCHEMES

Interpretation and application of Part II9

1

In this Part—

  • “the Authority” means the Occupational Pensions Regulatory Authority;

  • “designated scheme” in relation to an employer, means a scheme designated by him for the purposes of Article 5(2);

  • “occupational pension scheme” and “personal pension scheme” have the meanings given by section 1 of the Pension Schemes Act;

  • “pension scheme” means an occupational pension scheme or a personal pension scheme;

  • “prescribed” means prescribed by regulations made by the Department;

  • “stakeholder pension scheme” shall be construed in accordance with Article 3.

2

The Department may by regulations make provision for a stakeholder pension scheme which—

a

is of a prescribed description, and

b

would (apart from the regulations) be an occupational pension scheme,

to be treated for all purposes, or for such purposes as may be prescribed, as if it were a personal pension scheme and not an occupational pension scheme.

3

This Part applies to a pension scheme managed by or on behalf of the Crown as it applies to other pension schemes; and, accordingly, references in this Part to a person in his capacity as a trustee or manager of, or person prescribed in relation to, a pension scheme include the Crown, or a person acting on behalf of the Crown, in that capacity.

4

This Part applies to persons employed by or under the Crown in like manner as if such persons were employed by a private person; and references in this Part to a person in his capacity as an employer include the Crown, or a person acting on behalf of the Crown, in that capacity.

5

Paragraphs (3) and (4) do not apply to any provision of this Part under which a person may be prosecuted for an offence; but such a provision applies to persons in the public service of the Crown as it applies to other persons.

6

Nothing in this Part applies to Her Majesty in Her private capacity (within the meaning of the [1947 c. 44.] Crown Proceedings Act 1947).