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The Occupational Pension Schemes (Validation of Rule Alterations) Regulations 1998

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Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Validation of Rule Alterations) Regulations 1998 and shall come into force on 26th August 1998.

(2) In these Regulations—

“Board” means the Occupational Pensions Board constituted in accordance with section 2 of the Pension Schemes Act 1993(1) and dissolved by section 150(1) of the Pensions Act 1995(2); and

“contracted-out scheme” includes a scheme which has ceased to be contracted-out so long as any person is entitled to receive, or has accrued rights to, any benefits under the scheme attributable to a period when the scheme was contracted-out.

Validation of rule alterations made before 6th April 1997

2.—(1) This regulation applies to any alteration—

(a)made to the rules of a contracted-out scheme before 6th April 1997; and

(b)which was void immediately before that date by virtue of section 37(3) of the Pension Schemes Act 1993 as then in force.

(2) Where the trustees or managers of a contracted-out scheme apply to the Secretary of State in accordance with paragraph (3) below for the validation of an alteration to which this regulation applies, the Secretary of State may, if satisfied that the Board had not refused before 6th April 1997 to consent to the alteration, validate the alteration with effect from the date when it was made.

(3) Any application for the purposes of this regulation shall be made by the trustees or managers to the Secretary of State in writing, and shall include a copy of the instrument by which the alteration was made, bearing the date on which the alteration was made.

Signed by authority of the Secretary of State for Social Security.

John Y. Denham

Parliamentary Under-Secretary of State,

Department of Social Security

28th July 1998

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