Modification of Schedule 9 to the Act3
F11
In relation to a partially guaranteed scheme, Schedule 9 to the Act applies as if—
a
in paragraph 8 (failure by the Board to obtain an actuarial valuation), after the word “valuation” there were inserted the words “
of the unsecured part
”
M1;
b
in paragraph 9 (approval, or failure to approve, a valuation), after the word “respect” there were inserted the words “
of the unsecured part
”
;
c
after paragraph 15 (failure by the Board to give a transfer notice), there were inserted the following paragraphs—
15A
The failure by the Board to obtain an actuarial valuation of the assets and protected liabilities of the unsecured part of an eligible scheme under section 160(4A) M2.
15B
The approval of, or failure to approve, a valuation of the assets and protected liabilities of the unsecured part of an eligible scheme under section 144(2) as applied for the purposes of section 160(4A) M3.
F22
Paragraph (1) shall not apply where regulation 2A of the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (schemes to which paragraph (1) of regulation 2 does not apply) applies to a scheme.