3.—(1) The Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations (Northern Ireland) 1996(1) shall be amended in accordance with paragraphs (2) to (5).
(2) In regulation 2(1) (interpretation) in the definition of “relevant self-administered scheme”—
(a)in paragraph (b)—
(i)for “satisfies paragraph (b)” there shall be substituted “satisfies paragraphs (b) and (c)”;
(ii)after “Taxes Act” there shall be inserted “, or”;
(b)after paragraph (b) there shall be inserted the following paragraph—
“(c)a scheme which satisfies paragraphs (b) and (c) of that definition(2) and, if it satisfied paragraph (a) of that definition, would be a scheme which the Commissioners of Inland Revenue would not have been prohibited from approving under section 591 of the Taxes Act before 7th April 1998(3);”.
(3) In regulation 10(2)(a) (time limits for making alternative arrangements under Article 17) for “the alternative arrangements are approved” there shall be substituted “the employer gives notice to the trustees under regulation 9(1)(b)(ii) in respect of the approval of the arrangements”.
(4) In regulation 16(2)(a) (time limits for making alternative arrangements under Article 19) for “the alternative arrangements are approved” there shall be substituted “the employer gives notice to the company under regulation 15(1)(b)(ii) in respect of the approval of the arrangements”.
(5) In Schedule 3 (Modifications of the Pensions (Northern Ireland) Order 1995 and these Regulations)—
(a)in paragraph 2(4) for “regulation 10(2)(b)(i)” there shall be substituted “regulation 10(2)(a) and (b)(i)”;
(b)in paragraph 3(4) for “regulation 16(2)(b)(i)” there shall be substituted “regulation 16(2)(a) and (b)(i)”.
S.R. 1996 No. 431; amended by S.R. 1997 No. 160