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2.—(1) The Pensions Regulator (Financial Support Directions etc.) Regulations 2005(1) are amended in accordance with this regulation.
(2) For regulation 5 (prescribed period), substitute—
5.—(1) Subject to paragraph (2), the period prescribed for the purposes of section 43(9) (financial support directions – prescription of relevant time) is 24 months.
(2) Until 6th April 2010 (the “Transition Date”), the period at paragraph (1) is reduced by a period equal to the number of complete months then remaining until the Transition Date.
(3) For the purposes of paragraph (2), a complete month means a period from and including the sixth day of a month to and including the fifth day of the following month.”.
S.I. 2005/2188, amended by S.I. 2005/2224 and 2008/731.
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