Bulk transfers in
147.—(1) This regulation applies if—
(a)the employment of one or more persons (the transferred employees) is transferred without their consent to a new employer;
(b)on the transfer the transferred employees cease to be active members of an occupational pension scheme (the former employer’s scheme);
(c)after the transfer the transferred employees become active members of this scheme;
(d)the Department, after consulting the scheme actuary, has agreed special terms for the acceptance of transfer value payments in respect of the transferred employees from the former employer’s scheme; and
(e)the transferred employees have consented in writing to their rights being transferred in accordance with those terms.
(2) This scheme has effect with such modifications as are necessary to give effect to the terms mentioned in paragraph (1)(d).
(3) If the transfer is directly or indirectly attributable to an enactment, this scheme has effect with such modifications as the Department thinks necessary in consequence of the transfer.