2.—(1) The Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 1996(1) are amended in accordance with paragraphs (2) and (3).
(2) In regulation 6(2)(b) (arrangements for discharge of liabilities under Article 74) before head (i) insert—
“(ai)in the way mentioned in regulation 8(6)(b)(i)(aa)(2) in a case where the proposed lump sum is an uncrystallised funds pension lump sum for the purposes of Part 1 of Schedule 29 to the Finance Act 2004(3);”.
(3) In regulation 8(6) (requirements to be satisfied by transferee schemes, annuities, etc.)—
(a)in sub-paragraph (a) for “Chapter 5 of Part IV” substitute “Chapter 2 of Part 4ZA(4)”;
(b)in sub-paragraph (b)(i)(aa) after “trivial commutation lump sum” insert “, an uncrystallised funds pension lump sum”.
S.R 1996 No. 621; relevant amending Regulations are S.R. 2005 No. 171 and S.R. 2009 No. 365
Regulation 8(6) was added by regulation 11 of S.R. 2005 No. 171 and amended by regulation 5 of S.R. 2009 No. 365
2004 c. 12. See paragraph 4A of Schedule 29 (registered pension schemes: authorised lump sums: uncrystallised funds pension lump sum), which was inserted by paragraph 57 of Schedule 1 to the Taxation of Pensions Act 2014 (c. 30)
See paragraph 50 of Schedule 4 to the Pension Schemes Act 2015