13
1
This regulation applies if—
a
either condition A or B is met, and
b
condition C is met.
2
Condition A is that the Board of the Pension Protection Fund is responsible for securing that compensation is (and has been) paid to a dependant of an individual in accordance with the pension compensation provisions.
3
Condition B is that the Board of the Pension Protection Fund is required to secure the discharge of liabilities to a dependant of an individual in respect of benefits transferred to the Board under—
a
Chapter 3 of Part 2 of the Pensions Act (pension protection), or
b
Chapter 3 of Part 3 of the Pensions Order (pension protection).
4
Condition C is that the Board of the Pension Protection Fund provides for the securing of—
a
the payment of compensation in the circumstances specified in condition A, or
b
the discharge of liabilities in the circumstances specified in condition B,
by the entry into an annuity contract or a number of such contracts.
5
For the purposes of Part 4, payment of an annuity under an annuity contract mentioned in paragraph (4) is treated as payment of a dependants' scheme pension.
6
If this regulation applies, so much of Pension death benefit rule 3 in section 167(1) of FA 2004 (pension death benefit rules) as provides that a dependants' scheme pension may only be paid if the member or dependant had an opportunity to select a dependants' annuity instead is treated as omitted.