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The Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2005

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Amendment of the Pension Protection Fund (Provision of Information) Regulations

5.—(1) The Pension Protection Fund (Provision of Information) Regulations (Northern Ireland) 2005(1) shall be amended in accordance with paragraphs (2) and (3).

(2) In regulation 2 (interpretation)—

(a)in paragraph (1)—

(i)after the definition of “appointed representative” there shall be inserted the following definition—

“the assessment date” means the date on which the assessment period in relation to the scheme or section, or (where there has been more than one such assessment period) the last one, began;;

(ii)after the definition “multi-employer scheme” there shall be inserted the following definition—

“non-segregated scheme” means a multi-employer scheme which is not a segregated scheme;;

(iii)the word “and” after the definition of “review decision” shall be omitted and after that definition there shall be inserted the following definition—

“segregated scheme” means a multi-employer scheme which is divided into two or more sections where—

(a)

any contributions payable to the scheme by an employer in relation to the scheme or by a member are allocated to that employer’s or that member’s section, and

(b)

a specified proportion of the assets of the scheme is attributable to each section of the scheme and cannot be used for the purposes of any other section;; and

(b)for paragraphs (2) and (3) there shall be substituted the following paragraphs—

(2) In these Regulations, “employer”, in relation to—

(a)an occupational pension scheme which is not a multi-employer scheme; or

(b)a single-employer section of a segregated scheme,

which has no active members, includes the person who was the employer of persons in the description of employment to which the scheme or section relates immediately before the time at which the scheme or section ceased to have any active members in relation to it.

(3) In these Regulations, “employer”, in relation to a non-segregated scheme or a multi-employer section of a segregated scheme—

(a)in an assessment period, includes any person who before the assessment date has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)condition A is that a debt under Article 75 of the 1995 Order became due from that employer and the full amount of the debt has been paid before the assessment date;

(ii)condition B is that—

(aa)such a debt became due;

(bb)a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)the reduced amount has been paid in full before the assessment date;

(iii)condition C is that such a debt became due but before the assessment date it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due;

(b)in any other case, includes any person who has ceased to be the employer of persons in the description of employment to which the scheme or section relates unless condition A, B, C or D is satisfied where—

(i)condition A is that a debt under Article 75 of the 1995 Order became due from that employer and the full amount of the debt has been paid;

(ii)condition B is that—

(aa)such a debt became due;

(bb)a legally enforceable agreement has been entered into the effect of which is to reduce the amount which may be recovered in respect of the debt; and

(cc)the reduced amount has been paid in full;

(iii)condition C is that such a debt became due but it is excluded from the value of the assets of the scheme or section because it is unlikely to be recovered without disproportionate costs or within a reasonable time;

(iv)condition D is that at the time at which any such person ceased to be the employer of persons in the description of employment to which the scheme or section relates the value of the assets of the scheme or section was such that no such debt was treated as becoming due..

(3) In paragraph 1(1) of Schedule 2 (information to be provided by trustees or managers) the definition of “assessment date” shall be omitted.

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