The Pensions Act 1995 (Commencement No. 10) Order 1997

Explanatory Note

(This note is not part of the Order)

This Order provides for the coming into force of further provisions of the Pensions Act 1995 on the following dates—

(a) on the day the Order is made for section 81(7) for the purposes of making regulations relating to the compensation provisions,

(b) 1st April 1997 for provisions relating to the levy, the provision of information by the Registrar of Occupational and Personal Pension Schemes, the appointment of the Occupational Pensions Regulatory Authority as that Registrar and minor amendments to the Pensions Schemes Act 1993, and

(c) 6th April 1997 for all the remaining provisions of the Act except sections 48(2) and (7) to (13), 95 and 145 and paragraph 38 of Schedule 5 and a corresponding reference in Schedule 7.

The Order also makes transitional adaptations, modifications and savings.

Article 4 makes savings in respect of the termination of contracted-out or appropriate schemes status and state scheme premiums.

Article 5 makes a transitional modification in relation to transfer values and extensions granted or refused by the Occupational Pensions Board.

Article 6 makes transitional savings as regards payments to employers.

Article 7 makes a transitional saving relating to the disclosure to members of actuarial statements.

Article 8 makes a transitional saving as regards determinations by the Occupational Pensions Board in relation to the preservation requirements.

Article 9 makes transitional savings and modifications as regards applications to modify schemes other than public service schemes.

Article 10 makes a transitional saving relating to minimum payments and minimum contributions paid or payable before 6th April 1997.

Article 11 makes transitional savings and modifications as regards winding up.

Article 12 makes a transitional modification as regards schedules of payments to money purchase schemes.

Article 13 provides for the functions of the Board under the National Insurance (Non-participation-Certificates) Regulations 1959 to be exercised by the Secretary of State.

Article 14 transfers all outstanding property, rights and liabilities of the Board to the Secretary of State.