The Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations (Northern Ireland) 2005

Explanatory Note

(This note is not part of the Regulations.)

These Regulations provide for the review and reconsideration by the Board of the Pension Protection Fund (“the Board”) of the reviewable matters specified in Schedule 8 to the Pensions (Northern Ireland) Order 2005 (“the Order”).

The Board is established by section 107 of the Pensions Act 2004 (c. 35) (“the Act”) to provide compensation for members of certain occupational pension schemes in the event of the insolvency of the scheme’s sponsoring employer and where the pension scheme is underfunded at a certain level.

Regulation 1 provides for citation, commencement and interpretation and, in particular, defines for the purposes of these Regulations the interested persons who may apply for a review decision on a reviewable matter.

Regulation 2 provides that the Board must give a review decision on any reviewable matter on the written application of an interested person.

Regulation 3 prescribes the period within which an application for a review decision must be made and provides for the circumstances in which the Board must give a review decision following an application made outside that period.

Regulation 4 sets out the matters to be addressed or included in an application for a review decision on any reviewable matter.

Regulation 5 provides for the Board to notify certain persons who may be materially affected by the review decision that an application has been received and of the grounds on which it has been made.

Regulation 6 provides that the Board may give a review decision otherwise than on an application on certain reviewable matters.

Regulation 7 provides that where the Board decides to give a review decision otherwise than on an application it must notify certain persons.

Regulation 8 provides that interested persons may make written representations to the Board by such time as the Board may require.

Regulation 9 sets out the matters to be considered by the Board in giving a review decision under regulation 2 or 6(1).

Regulation 10 provides for the period within which the Board must give a review decision and for an interim reply to be given setting out the reasons for any delay and the expected date for issuing the decision. Similar provision is made in respect of a review decision made otherwise than on an application.

Regulation 11 sets out the powers that the Board has in giving a review decision under regulation 2 or 6(1), including a power to vary, revoke or substitute a determination to pay compensation and to make saving and transitional provision.

Regulation 12 provides for a review decision to be given in writing and for the matters to be included in the decision.

Regulation 13 provides that the Board must send a copy of a review decision to certain persons.

Regulation 14 provides that where the Board has given a review decision and an interested person makes an application for the reviewable matter to be reconsidered the Reconsideration Committee must give a reconsideration decision.

Regulation 15 provides that an application for reconsideration must be made in writing and must be made by sending it to the Reconsideration Committee within 28 days of the date of issue of the review decision and for the circumstances in which the Reconsideration Committee may accept an application made outside that period and give a reconsideration decision.

Regulation 16 sets out the matters to be addressed or included in an application for a reconsideration decision.

Regulation 17 provides for the Reconsideration Committee to notify certain persons that an application has been received and of the grounds on which it has been made.

Regulation 18 provides that the Reconsideration Committee may give a reconsideration decision otherwise than on an application on certain reviewable matters.

Regulation 19 provides that where the Reconsideration Committee decides to give a reconsideration decision otherwise than on an application it must notify certain persons.

Regulation 20 provides that an interested person may make written representations to the Reconsideration Committee by such time as the Reconsideration Committee may require.

Regulation 21 sets out the matters to be considered by the Reconsideration Committee in giving a reconsideration decision under regulation 14(1) or 18(1).

Regulation 22 provides for the period within which the Reconsideration Committee must give a reconsideration decision and for an interim reply to be given setting out the reasons for any delay and the expected date for issuing the decision. Similar provision is also made in respect of a reconsideration decision made otherwise than on an application.

Regulation 23 sets out the powers that the Reconsideration Committee has in giving a reconsideration decision under regulation 14(1) or 18(1).

Regulation 24 sets out the procedure for reaching and giving a reconsideration decision.

Regulation 25 provides that the Reconsideration Committee must send a copy of a reconsideration decision to certain persons.

Regulation 26 modifies paragraph 15 of Schedule 5 to the Act to provide that a Reconsideration Committee (or any sub-committee established by it) must not include any person concerned with the reviewable matter in respect of which a reconsideration decision is to be made.

Regulation 27 provides for the appointment of a representative.

Article 189 of the Order, under which these Regulations are made, was brought into operation, for the purpose only of authorising the making of regulations, on 25th February 2005 and for all other purposes on 6th April 2005, by virtue of the Pensions (2005 Order) (Commencement No. 1 and Consequential and Transitional Provisions) Order (Northern Ireland) 2005 (S.R. 2005 No. 48 (C. 5)).

As these Regulations are made before the end of the period of six months beginning with the coming into operation of the provisions of the Order by virtue of which they are made, the requirement to consult under Article 289(1) of the Order does not apply by virtue of paragraph (2)(c) of that Article.