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The Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996

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This is the original version (as it was originally made).

General extensions in exceptional circumstances

27.—(1) Where, by reason of exceptional general economic or financial circumstances, it is likely that a large number of applications will be made—

(a)under regulation 25, or

(b)under regulation 26,

the Authority may exercise the powers of extension mentioned in paragraph (1) of that regulation in the case of all schemes in respect of which an application is made to them under that regulation, by extending (or further extending) the period to which the application relates, unconditionally or subject to any conditions.

(2) Extensions given generally under paragraph (1) may extend the applicable period for schemes of different descriptions by different periods.

(3) Paragraph (6) of regulation 25 applies to an extension given by virtue of paragraph (1)(a) as it applies in the case of an extension by virtue of paragraph (1) of that regulation.

(4) Extensions under paragraph (1) may apply to applications made under regulation 25 or, as the case may be, 26, notwithstanding that they are not accompanied by the documents, information and evidence required in their case by paragraph (4) of regulation 25.

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