The Occupational Pension Schemes (Discharge of Protected Rights on Winding Up) Regulations 1996

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Discharge of Protected Rights on Winding Up) Regulations 1996 and shall come into force on 6th April 1996.

(2) In these Regulations—

“the Act” means the Pension Schemes Act 1993;

“administrative charges” means any charges or costs incurred as a result of taking out or entering into an appropriate policy of insurance but excluding any new commission costs; and

“normal pension age” has the same meaning as in section 180 of the Act.

(3) A reference to a numbered regulation is to the regulation in these Regulations bearing that number and, unless the context otherwise requires, a reference in a regulation to a numbered paragraph is to the paragraph bearing that number in that regulation.