- Latest available (Revised)
- Original (As made)
The Pension Protection Fund (Levy Ceiling) Regulations (Northern Ireland) 2006
You are here:
- 2006 No. 409
- Explanatory Note
What Version
Opening Options
Status:
This is the original version (as it was originally made). Northern Ireland Statutory Rules are not carried in their revised form on this site.
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations make provision in relation to the levy ceiling for the financial year beginning on 1st April 2007.
Article 158 of the Pensions (Northern Ireland) Order 2005 (“the Order”) provides that the Board of the Pension Protection Fund (“the Board”) must impose pension protection levies for each financial year falling after the initial period (as defined in Article 157 of the Order). Article 160 of the Order provides for the amount to be raised by the pension protection levies. By virtue of Article 160(2) of the Order, the amount of the levies for a financial year must not exceed the levy ceiling for that financial year. These Regulations modify Article 160(2) of the Order to provide that, for the financial year beginning on 1st April 2007, the levies imposed must be in a form which the Board estimates will raise an amount not exceeding £718,750,000.
The Pensions (2005 Order) (Commencement No. 10 and Savings) Order (Northern Ireland) 2006 (S.R. 2006 No. 352 (C. 19)) provides for the coming into operation of Article 160(4), under which these Regulations are made, on 1st September 2006.
As these Regulations are made before the end of the period of six months beginning with the coming into operation of the provision of the Order by virtue of which they are made, the requirement to consult under Article 289(1) of the Order does not apply by virtue of paragraph (2)(c) of that Article.
Options/Help
Print Options
Print The Whole Rule
Print This Explanatory Note only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources