The Pensions (Northern Ireland) Order 2005 No. 255 (NI. 1)

PART III N.I. THE BOARD OF THE PENSION PROTECTION FUND

Modifications etc. (not altering text)

C1 Pt. III (arts. 101-199) applied by S.R. 2005/55, reg. 2A (as inserted (8.3.2010) by Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/32), reg. 2(4))

C2 Pt. III amendment to earlier affecting provision S.R. 2005/91 (23.7.2012) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2012 (S.R. 2012/270), regs. 1, 2

C3 Pt. III modified by S.R. 2005/55 (as amended) (30.4.2013) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2013 (S.R. 2013/95), regs. 1(2), 3

CHAPTER 2 N.I. INFORMATION RELATING TO EMPLOYER'S INSOLVENCY ETC.

Status of scheme N.I.

Insolvency practitioner's duty to issue notices confirming status of scheme N.I.

106.—(1 )F1  This Article applies where an insolvency event has occurred in relation to the employer in relation to an occupational pension scheme.

(2 )F1  An insolvency practitioner in relation to the employer must—

(a )F1 if he is able to confirm that a scheme rescue is not possible, issue a notice to that effect (a “scheme failure notice”), or

(b )F1 if he is able to confirm that a scheme rescue has occurred, issue a notice to that effect (a “withdrawal notice”).

F1 (3) Paragraph (4) applies where—

(a )F1 in prescribed circumstances, insolvency proceedings in relation to the employer are stayed or come to an end, or

(b) a prescribed event occurs.

(4 )F1  If a person who was acting as an insolvency practitioner in relation to the employer immediately before this paragraph applies has not been able to confirm in relation to the scheme—

(a )F1 that a scheme rescue is not possible, or

(b )F1 that a scheme rescue has occurred,

he must issue a notice to that effect.

(5) For the purposes of this Article—

(a )F1 a person is able to confirm that a scheme rescue has occurred in relation to an occupational pension scheme if, and only if, he is able to confirm such matters as are prescribed for the purposes of this sub-paragraph, and

(b )F1 a person is able to confirm that a scheme rescue is not possible, in relation to such a scheme if, and only if, he is able to confirm such matters as are prescribed for the purposes of this sub-paragraph.

(6 )F1  Where an insolvency practitioner or former insolvency practitioner in relation to the employer issues a notice under this Article, he must give a copy of that notice to—

(a) the Board,

(b) the Regulator, and

(c) the trustees or managers of the scheme.

F1 (7) A person must comply with an obligation imposed on him by paragraph (2), (4) or (6) as soon as reasonably practicable.

(8) Regulations may require notices issued under this Article—

(a) to be in a prescribed form;

(b) to contain prescribed information.

F1 mod. by SR 2005/91