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The Pensions (2005 Order) (Pensions Compensation Board Transitional Adaptations and Savings) Order (Northern Ireland) 2005

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Citation, commencement and interpretation

1.—(1) This Order may be cited as the Pensions (2005 Order) (Pensions Compensation Board Transitional Adaptations and Savings) Order (Northern Ireland) 2005 and shall come into operation on 1st September 2005.

(2) In this Order—

the Order” means the Pensions (Northern Ireland) Order 2005;

“function of the Pensions Compensation Board” means—

(a)

the review under Article 78 of the 1995 Order(1) (review of Compensation Board’s decisions) of a determination made by the Pensions Compensation Board before 1st September 2005 in relation to a function of the Pensions Compensation Board specified in any of paragraphs (b) to (e);

(b)

the determination under Article 79(4) of the 1995 Order (recoveries of value) as to whether anything received by the trustees of an occupational pension scheme is a recovery of value;

(c)

the determination that Article 79 of the 1995 Order(2) (cases where compensation provisions apply) applies to applications for compensation payments and that such applications comply with the requirements of Article 80 of the 1995 Order (applications for payments);

(d)

the determination of settlement dates, and making pension compensation payments in accordance with Article 81 of the 1995 Order(3) (amount of compensation);

(e)

the determination as to when to make payments in anticipation under Article 82 of the 1995 Order (payments made in anticipation);

(f)

for the purposes of Article 2(2) of this Order, the functions specified in paragraphs (a) to (e) and any determination in relation to an application for a pension compensation payment made under Article 80 of the 1995 Order where the circumstances in article 4(7) of the Pensions Act 2004 (Commencement No. 6, Transitional Provisions and Savings) Order 2005(4) apply.

“the Pensions Compensation Board” means the Pensions Compensation Board established under section 78 of the Pensions Act 1995(5) (the Compensation Board).

(1)

S.I. 1995/3213 (N.I. 22); Article 78 was amended by Article 254(2) of the Pensions (Northern Ireland) Order 2005

(2)

Article 79 was amended by Article 16(1) and (2) of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11)) and Article 254(3) of the Pensions (Northern Ireland) Order 2005

(3)

Article 81 was amended by Article 16(3) to (6) of the Welfare Reform and Pensions (Northern Ireland) Order 1999 and Article 254(4) of the Pensions (Northern Ireland) Order 2005

(5)

1995 c. 26; section 78 was amended by Article 145 of the Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649)

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