Assumption of responsibility by PPF Board in paragraph 20(2) casesN.I.
26(1)This paragraph applies to an order under Part 1 so far as it includes provision made by virtue of paragraph 20(2) which—N.I.
(a)imposed requirements on the trustees or managers of an occupational pension scheme for which the Board has assumed responsibility, and
(b)was made before the trustees or managers received the transfer notice.
(2)From the time the trustees or managers of the scheme receive the transfer notice, the order has effect—
(a)except in descriptions of case prescribed by regulations, with the modifications set out in sub-paragraph (3), and
(b)with such other modifications as may be prescribed by regulations.
(3)The modifications are that—
(a)references in the order to the trustees or managers of the scheme have effect as references to the Board, and
(b)references in the order to any pension or lump sum to which the civil partner with pension rights is or may become entitled under the scheme have effect as references to any PPF compensation to which that person is or may become entitled in respect of the pension or lump sum.