7.—(1) Section 52 (provision supplementary to section 51) is amended as follows.
(2) In subsection (4) for the words from the beginning to “another scheme,” substitute—
“(4) Where under the rules of the scheme, transfer credits have been allowed—
(a)in respect of the earner’s rights under another scheme, or
(b)in respect of the earner by reference to the payment of a cash transfer sum (within the meaning of Chapter 5 of Part IV) to the trustees or managers of the scheme by the trustees or managers of another occupational pension scheme,”.
(3) After subsection (7) add—
“(8) Where a premium under section 51 is payable by the Board of the Pension Protection Fund by virtue of a transfer under Article 145 of the Pensions (Northern Ireland) Order 2005 (effect of the Board assuming responsibility for an occupational pension scheme), then, subject to subsection (9), sections 51 to 64 apply with such modifications as may be prescribed in relation to that premium.
(9) A premium under section 51 in respect of an earner ceases to be payable if—
(a)the liability to pay the premium is transferred to the Board of the Pension Protection Fund by virtue of Article 145 of the Pensions (Northern Ireland) Order 2005, and
(b)prescribed requirements are met.”.