The Occupational and Personal Pension Schemes (Prescribed Bodies) Regulations (Northern Ireland) 2007

2.  In the Personal Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1987(1)—

(a) in regulation 1(2) (interpretation) after the definition of “the Act”(2) insert—

““the Board for Actuarial Standards” means the operating body of that name of the Financial Reporting Council;”, and

(b) for regulation 3(2)(b)(ii)(3) (manner of calculation and verification of cash equivalents) substitute—

“(ii) with “Retirement Benefit Schemes – Transfer Values (GN11)”, adopted or prepared, and from time to time revised, by the Board for Actuarial Standards and current on the date of the calculation.”.

(1)

S.R. 1987 No. 290; relevant amending Regulations are S.R. 1994 No. 300

(2)

The definition of “the Act” was inserted by paragraph 15(2)(a) of the Schedule to S.R. 1994 No. 300

(3)

Regulation 3(2)(b) was amended by paragraph 15(6) of Schedule 2 to S.R. 1994 No. 300