EXPLANATORY NOTE
(This note is not part of the Order)
This Order brings into operation paragraph 4 of Schedule 9 to the Pensions (No. 2) Act (Northern Ireland) 2008 (and paragraph 2 and section 104 in so far as they relate to paragraph 4) on 26th February 2010. Paragraph 4 inserts Article 164A into the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)). Article 164A enables regulations to be made to provide for interest to be charged in the case of late payment of a pension protection levy. That levy is payable by certain defined benefit pension schemes to the Board of the Pension Protection Fund.
The Order also brings into operation section 78 of the Pensions (No. 2) Act (Northern Ireland) 2008, in so far as it is not already in operation, on 5th July 2010. Section 78 is an interpretation provision for the purposes of Part 1 of that Act.