Search Legislation

The Pensions (Financial Reporting Council) (Amendment) Regulations (Northern Ireland) 2012

Status:

This is the original version (as it was originally made).

This section has no associated Explanatory Memorandum

10.  In the Occupational Pension Schemes (Employer Debt) Regulations (Northern Ireland) 2005(1)

(a)in regulation 2 (interpretation)—

(i)in paragraph (1) omit the definition of “the Board for Actuarial Standards”(2);

(ii)for paragraph (3)(3) substitute—

(3) In these Regulations references to FRC standards are to actuarial standards on winding up and scheme asset deficiency adopted or prepared, and from time to time revised, by the Financial Reporting Council Limited.;

(b)in regulation 5(17)(4) (calculation of the amount of scheme liabilities and value of scheme assets) for “BAS standards” substitute “FRC standards”;

(c)in regulation 6(8)(5) (multi-employer schemes: general) for “BAS standards” substitute “FRC standards”;

(d)in—

(i)paragraph 3 of the certificate set out in Schedule 1(6) (actuary’s certificate of total difference between scheme assets and liabilities and liability share debt of employer in a multi-employer scheme), and

(ii)paragraph 2 of the certificate set out in Schedule 1D(7) (actuary’s certificate for amount B under a withdrawal arrangement or an approved withdrawal arrangement in a multi-employer scheme),

for “BAS standards” substitute “FRC standards”.

(2)

The definition of “the Board for Actuarial Standards” was inserted by paragraph 14(a)(i) of the Schedule to S.R. 2007 No. 64

(3)

Paragraph (3) was substituted by regulation 4(3) of S.R. 2008 No. 132

(4)

Regulation 5 was substituted by regulation 5 of S.R. 2008 No. 132 and paragraph (17) was amended by regulation 5(e) of S.R. 2010 No. 111

(5)

Paragraphs (2) to (8) of regulation 6 were substituted for paragraphs (2) to (5) by regulation 6 of S.R. 2008 No. 132

(6)

Schedule 1 was substituted by regulation 13 of S.R. 2008 No. 132 and amended by regulation 17 of S.R. 2010 No. 111 and regulation 12 of S.R. 2012 No. 1

(7)

Schedules IB to 1D were substituted for Schedule 1B by regulation 15 of S.R. 2008 No. 132 and Schedule 1D was amended by regulation 21 of S.R. 2010 No. 111

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

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.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

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.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources