any reference to a numbered section is a reference to the section of the Pension Schemes Act bearing that number, and

any reference to a numbered Article or Schedule is a reference to the Article of, or Schedule to, the Welfare Reform and Pensions (Northern Ireland) Order 1999 bearing that number.

where the implementation period has not commenced, its commencement shall be postponed, or

where the implementation period has commenced, its operation shall cease and it shall not commence afresh until the person responsible for the pension arrangement has received the documents referred to in paragraph (2).

confirmation from the court that the order which was the subject of the application for leave to appeal out of time has not been varied or discharged, or

a copy of the varied pension sharing order.

the circumstances set out in paragraph (2) apply, and

the rules or provisions of a pension arrangement provide that liability in respect of a pension credit may be discharged in accordance with this regulation,

the rules of that arrangement provide that appropriate rights may be conferred under that scheme on a person entitled to a pension credit, or

in relation to the operation of paragraph 1(2) of Schedule 5, the person entitled to the pension credit has consented to the conferring of appropriate rights under that arrangement on him.

the person entitled to the credit has failed to provide his consent in accordance with paragraph 1(2)(a) and (4) of Schedule 5, and

the circumstances set out in paragraph 1(3) of Schedule 5 do not apply.

the person entitled to the credit has failed to provide his consent in accordance with paragraph 1(2)(a) of Schedule 5, and

the trustees or managers of the scheme have not discharged their liability in accordance with paragraph (1).

sub-paragraphs (a) and (b) of paragraph (2), in the case of an approved scheme, and

sub-paragraphs (a), (b) and (c) of paragraph (2), in the case of an unapproved scheme.

the liability of the trustees or managers has not been discharged in accordance with the provisions of paragraph 3(2) of Schedule 5;

the person entitled to the pension credit has not consented to the discharge of liability in accordance with paragraph 3(3) of Schedule 5, and

paragraph (1);

paragraph 4(2) of Schedule 5, or

paragraph 4(3) of Schedule 5.

the methods adopted and assumptions made when transfers of other pension rights are received by the person responsible for the pension arrangement, and

“Retirement Benefit Schemes — Transfer Values (GN 11)”

The publication “Retirement Benefit Schemes — Transfer Values (GN 11)” may be obtained from the Institute of Actuaries, Staple Inn Hall, High Holborn, London WC1V 7QJ, and from the Faculty of Actuaries, Maclaurin House, 18 Dublin Street, Edinburgh EH1 3PP. The publication is also available on the following internet web-site: http://www.actuaries.org.uk

a Fellow of the Institute of Actuaries;

a Fellow of the Faculty of Actuaries, or

a person with other actuarial qualifications who is approved by the Department for Social Development, at the request of the person responsible for the pension arrangement in question, as being a proper person to act for the purposes of these Regulations in connection with that scheme.

authorised under section 3 or 4 of the Insurance Companies Act 1982

1982 c. 50, as amended by the European Economic Area Act 1993 (c. 51)

in the case of a friendly society, authorised under section 32 of the Friendly Societies Act 1992

1992 c. 40; section 32(4) was substituted by regulation 4 of S.I. 1994/1984

an EC company as defined in section 2(6) of the Insurance Companies Act 1982

Section 2(6) was inserted by regulation 45 of S.I. 1994/1696

carries on ordinary long-term insurance business (within the meaning of section 96(1) of the Insurance Companies Act 1982

There are amendments to this section which are not relevant to these Regulations

provides ordinary long-term insurance in the United Kingdom and such of the requirements of Part I of Schedule 2F to that Act as are applicable have been complied with in respect of insurance.

a contracted-out salary related occupational pension scheme which satisfies the requirements of section 5(2)

Section 5(2) was substituted by Article 133(3) of the Pensions (Northern Ireland) Order 1995

a contracted-out money purchase occupational pension scheme which satisfies the requirements of section 5(3)

Section 5(3) was amended by Article 133(4) of, and paragraph 17 of Schedule 3 to, the Pensions (Northern Ireland) Order 1995 and paragraph 38(3) of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) (Northern Ireland) Order 1999

a contracted-out occupational pension scheme to which Article 146 of the 1995 Order applies (hybrid occupational pension schemes);

an appropriate personal pension scheme within the meaning of section 3(4)

Section 3(4) was amended by paragraph 15(b) of Schedule 3 to the Pensions (Northern Ireland) Order 1995

an annuity contract or an insurance policy which satisfies the requirements of paragraph 6 of Schedule 5 (qualifying arrangements);

an overseas arrangement within the meaning given by regulation 1(2) of the Transfer and Transfer Payment Regulations, or

an overseas scheme within the meaning given by regulation 1(2) of the Transfer and Transfer Payment Regulations.

in relation to the descriptions of pension arrangement referred to in paragraph (1)(a) to (d), the requirements specified in the Safeguarded Rights Regulations to be met by an occupational pension scheme or a personal pension scheme;

in relation to the descriptions of pension arrangement referred to in paragraph (1)(e), the requirements specified in regulation 15 of these regulations (disqualification as a destination for pension credit — annuity contracts and insurance policies) and regulation 7(3) and (4) of the Safeguarded Rights Regulations (the pension and annuity requirements — money purchase schemes);

the person entitled to the pension credit, or

if the person entitled to the pension credit has died, his widow or widower,

the conditions set out in paragraph (5) are satisfied, or

the conditions set out in paragraph (6) are satisfied.

the benefits secured by the annuity contract or insurance policy have become payable, and the aggregate of those benefits does not exceed £260 per annum;

an actuary certifies that the methods and assumptions to be used to calculate any benefit in a lump sum form will result in the benefit being broadly equivalent to the annual amount of benefits which would have been payable in pension benefits, and

all of the interest of the person entitled to a pension credit under the annuity contract or insurance policy is discharged upon payment of a lump sum.

the benefits secured by the annuity contract or insurance policy have become payable and the person entitled to the pension credit requests or consents to the commutation;

the person entitled to the pension credit is suffering from serious ill health prior to normal benefit age, and

the discharge of liability in respect of the pension credit in accordance with paragraph 1(3) of Schedule 5 is at the request, or with the consent, of the person entitled to the pension credit;

the person entitled to the pension credit has refused an offer by the trustees or managers of the occupational pension scheme from which the pension credit is derived to discharge their liability in respect of the pension credit, without any reduction in the amount of the credit, in accordance with the provisions of paragraph 1(2) of Schedule 5 (conferring appropriate rights in that scheme on the person entitled to the pension credit), and

100 per cent., and

the percentage of the pension credit which the actuarial valuation shows the scheme assets as being sufficient to satisfy,

the amount, if any, by which the amount of that pension credit falls short of what it would have been if the valuation day had been the day on which the trustees or managers make the payment, or

if it is greater, interest on the amount of that pension credit calculated on a daily basis over the period from the valuation day to the day on which the trustees or managers make the payment, at an annual rate of one per cent. above the base rate.

the interest on the amount of that pension credit, calculated on a daily basis over the period from the valuation day to the day on which the trustees or managers or the person responsible for the pension arrangement make the payment, at the same rate as that payable for the time being on judgment debts by virtue of Order 42, Rule 9(2) of the Rules of the Supreme Court (Northern Ireland) 1980

S.R. 1980 No. 346; the rate of interest was substituted by S.R. 1993 No. 143

if it is greater, the amount, if any, by which the amount of that pension credit falls short of what it would have been if the valuation day had been the day on which the trustees or managers or the person responsible for the pension arrangement make the payment.