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The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2007

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Amendment of the Pension Protection Fund (Entry Rules) Regulations

2.—(1) The Pension Protection Fund (Entry Rules) Regulations (Northern Ireland) 2005(1) shall be amended in accordance with paragraphs (2) and (3).

(2) In regulation 2(1) (schemes which are not eligible schemes)—

(a)after sub-paragraph (f) insert—

(fa)a tax registered scheme(2) which, immediately before 6th April 2006, was a former approved superannuation fund within the meaning of paragraph 1(1)(b) of Schedule 36 to the Finance Act 2004(3) (deemed registration of existing schemes);;

(b)in sub-paragraph (l) for head (i) substitute—

(i)the provisions of the scheme provide that any decision made by the trustees is made by the unanimous agreement of the trustees who are members of the scheme, or;

(c)in sub-paragraph (m) for head (i) substitute—

(i)the provisions of the scheme provide that any decision made by the company in its capacity as trustee is made by the unanimous agreement of the directors of that company who are members of the scheme, or.

(3) In paragraph 5(b)(4) of the Schedule (contents of accounts audited by the auditor of the scheme) for the words from “regulation 13” to the end of the paragraph substitute “regulation 13 of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005(5) (investments to which restrictions do not apply) applies.”.

(1)

S.R. 2005 No. 126; relevant amending Regulations are S.R. 2006 No. 155

(2)

The definition of “tax registered scheme” was substituted for the definition of “tax approved scheme” by regulation 21(2) of S.R. 2006 No. 155

(4)

Paragraph 5(b) was amended by regulation 21(5)(b) of S.R. 2006 No. 155

(5)

S.R. 2005 No. 569; regulation 13 was amended by regulation 7(3) of S.R. 2006 No. 141

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