The Occupational Pension Schemes (Pension Protection Levies) (Transitional Period and Modification for Multi-employer Schemes) Regulations (Northern Ireland) 2006

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Pension Protection Levies) (Transitional Period and Modification for Multi-employer Schemes) Regulations (Northern Ireland) 2006 and shall come into operation on 30th March 2006.

(2) In these Regulations—

“employer” has the meaning given by regulation 1(3)(1) of the Multi-employer Regulations (interpretation of “employer” in relation to certain multi-employer schemes);

“member” has the meaning given by Article 2(2) except that it does not include a person who is entitled only to money purchase benefits;

“the Multi-employer Regulations” means the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations (Northern Ireland) 2005(2);

“multi-employer section” means a section of a segregated scheme which has at least two employers in relation to that section;

“non-segregated scheme” means a multi-employer scheme which is not divided into two or more sections;

“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.

(3) In these Regulations, any reference to a numbered Article is a reference to the Article of the Pensions (Northern Ireland) Order 2005 bearing that number.

(1)

Regulation 1(3) of S.R. 2005 No. 91 was substituted by regulation 3(2)(b) of S.R. 2005 No. 357

(2)

S.R. 2005 No. 91; relevant amending Regulations are S.R 2005 No. 357