4.—(1) The Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996(1) are amended in accordance with paragraphs (2) and (3).
(2) In regulation 20(1)(2) (payment of a lump sum instead of a pension payable under a relevant scheme)—
(a)omit “is permitted either”;
(b)in sub-paragraphs (a) and (b) at the beginning insert “is permitted”;
(c)at the end of sub-paragraph (a) omit “or”;
(d)after sub-paragraph (b) add—
“or
(c)is—
(i)made by a registered pension scheme (within the meaning given in section 150(2) of the 2004 Act);
(ii)a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments), and
(iii)made to or in respect of a member.”.
(3) In regulation 60(1)(b)(i)(3) (payment of a guaranteed minimum pension as a lump sum)—
(a)omit “qualifies as”;
(b)in sub-heads (aa) and (bb) at the beginning insert “qualifies as”;
(c)at the end of sub-head (aa) omit “or”;
(d)after sub-head (bb) add—
“(cc)is made by a registered pension scheme (within the meaning given in section 150(2) of the 2004 Act), is a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments) and is made to or in respect of a member, or”.
S.R. 1996 No. 493; relevant amending provisions are S.I. 2006/744 and S.R. 2006 No. 223
Regulation 20 was substituted by Article 28(5) of S.I. 2006/744
Regulation 60 was substituted by Article 28(10) of S.I. 2006/744 and amended by regulation 2 of S.R. 2006 No. 223