- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
20. In Schedule 1C(1) to the 2005 Regulations (actuary’s certificate for withdrawal arrangement share or approved withdrawal arrangement share in multi-employer scheme)—
(a)in the certificate for paragraph 3 (valuation principles) substitute —
The scheme’s assets and liabilities are valued in accordance with—
(a)Article 75(5) of the Pensions (Northern Ireland) Order 1995(2), and
(b)regulations 5, 6[, 6C(3) and 7(5)] [delete as appropriate] of the Employer Debt Regulations.”;
(b)in the Notes—
(i)in the first paragraph for the definition of “relevant transfer deduction” substitute—
““relevant transfer deduction” means the amount of the relevant transfer liabilities less the value of the corresponding assets;”;
(ii)omit the second paragraph;
(iii)in the fourth paragraph—
(aa)for “updated actuarial assessment” substitute “updated liabilities assessment”;
(bb)after “Employer Debt Regulations” insert “[delete as appropriate]”;
(iv)after the seventh paragraph add—
“The total amount of the employer’s debt will be the amount of the (approved) withdrawal arrangement share stated in paragraph 2 of the certificate plus any cessation expenses (as defined in regulation 2(1) of the Employer Debt Regulations). See regulation 6(1)(e)(ii) of the Employer Debt Regulations.”.
Schedule 1C was substituted by regulation 15 of S.R. 2008 No. 132
S.I. 1995/3213 (N.I. 22); Article 75 was amended by Article 248 of the Pensions (Northern Ireland) Order 2005 and is modified by S.R. 2005 No. 168
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: