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The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations (Northern Ireland) 2005

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11.  In relation to a partially guaranteed scheme, Article 2 (general interpretation) applies as if there were inserted the following definitions at the appropriate alphabetical places –

“eligible scheme” has the meaning given by Article 110;

“partially guaranteed scheme” means an eligible scheme in respect of which a relevant public authority has –

(a)

given a guarantee in relation to –

(i)

any part of the scheme;

(ii)

any benefits payable under the scheme rules; or

(iii)

any members of the scheme; or

(b)

made any other arrangements for the purposes of securing that the assets of the scheme are sufficient to meet any part of its liabilities;

“relevant public authority” has the meaning given by Article 280(4);

“unsecured part” means any part of a partially guaranteed scheme –

(a)

in respect of which no guarantee has been given by a relevant public authority;

(b)

which relates to benefits payable under the scheme in respect of which –

(i)

no such guarantee has been given, and

(ii)

no other arrangements as are mentioned in Article 280(3)(b) have been made..

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