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Part 4Money Purchase Benefits

Regulations

31.—(1) Regulations under this Part may—

(a)make different provision for different cases (including different provision for pension schemes of different descriptions);

(b)provide for a person to exercise a discretion in dealing with any matter;

(c)amend any statutory provision (within the meaning of section 1(f) of the Interpretation Act (Northern Ireland) 1954);

(d)have retrospective effect.

(2) Regulations under this Part which amend an Act of Parliament or Northern Ireland legislation—

(a)must be laid before the Assembly after being made;

(b)take effect on such date as may be specified in the regulations but (without prejudice to the validity of anything done thereunder or to the making of new regulations) cease to have effect upon the expiration of a period of 6 months from that date unless at some time before the expiration of that period the regulations are approved by a resolution of the Assembly.

(3) Any other regulations under this Part are subject to negative resolution.