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The Pension Protection Fund (Insolvent Partnerships) (Amendment of Insolvency Events) Order (Northern Ireland) 2006
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- 2006 No. 529
- Explanatory Note
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Explanatory Note
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This Order amends Article 105(4)(d) of the Pensions (Northern Ireland) Order 2005 (“the 2005 Order”) in consequence of the Insolvent Partnerships (Amendment) Order (Northern Ireland) 2006 (S.R. 2006 No. 515) (“the Partnerships Order”).
By virtue of Article 105(4)(d) of the 2005 Order, for the purposes of Part III of that Order, an insolvency event occurs where an administration order is made under Part III of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) (“the 1989 Order”) in relation to an insolvent partnership. Part III of the 1989 Order was amended by the Insolvency (Northern Ireland) Order 2005 which inserted Schedule B1 into the 1989 Order. Schedule B1 to the 1989 Order is applied to insolvent partnerships by the Partnerships Order with effect from 8th January 2007. As a result, Article 105(4)(d) of the 2005 Order is substituted to reflect that an insolvency event, for the purposes of Part III of the 2005 Order, occurs where a partnership “enters administration” (within the meaning of paragraph 2(2)(b) of Schedule B1 to the 1989 Order).
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