The Occupational Pension Schemes (Winding Up Notices and Reports, etc.) Regulations (Northern Ireland) 2002

Applications to the Authority to modify schemes to secure winding up

7.—(1) This regulation applies where an application is made to the Authority under Article 71A (modification by Authority to secure winding up) to make an order modifying a scheme with a view to ensuring that it is properly wound up.

(2) The application shall—

(a) set out the modification requested;

(b) specify the effects, if any, which the modification would or might have—

(i) on benefits under the scheme that are in payment at the time of the application, and

(ii) on benefits under it which are or may be payable at a later time;

(c) specify the reason for requesting the modification;

(d) specify whether any previous application has been made to a court or to the Authority for an order to make the modification requested by the application or any similar modification;

(e) confirm that at the time the application is made the employer in relation to the scheme is subject to an insolvency procedure (within the meaning given by Article 71A(8));

(f) specify whether the modification would reduce the value of the assets, if any, which might otherwise be distributed to that employer on the winding up, and

(g) contain a statement that the notices required by paragraph (3) have been given.

(3) Before making the application the trustees or managers of the scheme shall give notice in writing that the application is being made—

(a) to all members of the scheme in respect of whom they have a current address, and

(b) if the modification would reduce the value of the assets which might otherwise be distributed to the employer on the winding up, to the person acting as an insolvency practitioner in relation to the employer or, as the case may be, the official receiver,

and the references in sub-paragraph (b) to “acting as an insolvency practitioner” and “official receiver” shall be construed in accordance with Articles 3 and 2 of the Insolvency (Northern Ireland) Order 1989(1).

(4) A notice under paragraph (3) shall—

(a) in the case of a notice under paragraph (3)(a), specify the information referred to in paragraph (2)(a), (b), (c) and (f);

(b) in the case of a notice under paragraph (3)(b), specify the information referred to in paragraph (2)(a) to (d) and (f);

(c) specify the date on which it is given, and

(d) contain a statement about the recipient’s rights under paragraph (5).

(5) A member of the scheme in respect of which the application is made or a person to whom a notice is to be given under paragraph (3)(b) may make representations to the Authority about the modification requested by the application during the period of one month beginning with the date specified under paragraph (4)(c).

(6) Before determining the application the Authority shall consider any representations duly made to them under paragraph (5).

(7) The application shall be accompanied by the following documents—

(a) a copy of—

(i) the documents constituting the scheme or, if any of those documents have been consolidated, the consolidated version of them;

(ii) if the documents mentioned in head (i) do not set out the rules of the scheme, those rules, and

(iii) any document which amends or supplements or wholly or partly supersedes any document within head (i) or (ii);

(b) if an actuary is required to be appointed under Article 47(1)(b), a copy of any advice given by the actuary so appointed to the trustees or managers concerning the effects, if any, that the modification requested by the application would or might have on the assets of, or the benefits provided by, the scheme;

(c) subject to paragraph (9), a copy of any legal advice given to the trustees or managers in relation to the modification requested by the application;

(d) a copy of any determination by a court concerning the modification requested or any similar modification, and

(e) if a record is required to be kept under Article 49A(1) of the trustees' or managers' determination that the scheme be wound up, a copy of that record.

(8) Subject to paragraph (9), if in dealing with the application it appears to the Authority necessary or desirable that any information or document which is not required to be given to them under paragraph (2) or (7) be given to them before they determine the application, they may require the trustees or managers to provide it.

(9) Nothing in paragraph (7)(c) or (8) requires a person to produce a document if he would be entitled to refuse to produce it in any proceedings in any court on the grounds that it was the subject of legal professional privilege.

(1)

S.I. 1989/2405 (N.I. 19)