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The Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1996

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Regulation 21

SCHEDULE 2Transitional Provisions

In the case of an application such as is mentioned in regulation 21(2), the 1985 Regulations are modified as follows—

(a)after regulation 4(3A)(1) there shall be inserted—

(3B) Paragraphs (3) and (3A) shall not apply after the expiry of the first period within which the trustees are required under Article 57 of the Pensions (Northern Ireland) Order 1995 to obtain an actuarial valuation (as defined in Article 56(5)(c) of that Order) nor where the trustees have obtained such a valuation within that period.;

(b)in regulation 3(2)(b)(ii)(2) for “current at the date of the calculation” there shall be substituted “current on 5th April 1997”.

(1)

Regulation 4(3) and (3A) was substituted for regulation 4(3) by regulation 12 of S.R. 1986 No. 225 and regulation 4(3A) was amended by paragraph 5(12)(a) of Schedule 2 to S.R. 1994 No. 300

(2)

Regulation 3(2)(b)(ii) was amended by regulation 3 of S.R. 1986 No. 114 and regulation 2(5) of S.R. 1987 No. 285

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