PART 9B

Ring-fencing

Pension liabilities

Further interpretative provisions for section 142W
142X
1
The following provisions have effect for the interpretation of section 142W and this section.
2
“
Relevant pension scheme
” means an occupational pension scheme that is not a money purchase scheme.
3
“
Occupational pension scheme
” has the meaning given in section 1 of the Pension Schemes Act 1993 or section 1 of the Pension Schemes (Northern Ireland) Act 1993 and, in relation to such a scheme, “
member
” and “
trustees or managers
” have the same meaning as in Part 1 of the Pensions Act 1995 or Part 2 of the Pensions (Northern Ireland) Order 1995.
4
“
Money purchase scheme
” has the meaning given in section 181(1) of the Pension Schemes Act 1993 or section 176(1) of the Pension Schemes (Northern Ireland) Act 1993.
5
“
Employer
”, in relation to a relevant pension scheme, means—
a
a person who is for the purposes of Part 1 of the Pensions Act 1995 or Part 2 of the Pensions (Northern Ireland) Order 1995 an employer in relation to the scheme, and
b
any other person who has or may have any liability under the scheme.
6
“
Employment
” has the meaning given in section 181(1) of the Pension Schemes Act 1993 or section 176(1) of the Pension Schemes (Northern Ireland) Act 1993.
7
“
Pension liabilities
” means liabilities attributable to or associated with the provision under a relevant pension scheme of pensions or other benefits.
8
“
The court
” means—
a
in relation to England and Wales or Northern Ireland, the High Court, and
b
in relation to Scotland, the Court of Session.
Pt. 9B inserted (1.3.2014 for the insertion of ss. 142A-142F, 142I, 142W-142Z1 for specified purposes, 21.4.2016 for the insertion of s. 142H, 1.1.2019 in so far as not already in force) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 4(1), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2; S.I. 2016/512, art. 2(a); S.I. 2018/1306, art. 2(d)
Pt. 9B power to apply (with modifications) conferred (1.1.2019) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 7(2)(b), 148(5); S.I. 2018/1306, art. 2(f)