Part 2

Occupational and personal pension schemes

Contracting-out

Abolition of contracting-out for defined contribution pension schemes
15
1
Any certificate which is either—
a
a contracting-out certificate in relation to a money purchase contracted-out scheme, or
b
an appropriate scheme certificate,
and is in force immediately before 6 April 2012, ceases to have effect on that date.
2
In this section—
...
- “contracting-out certificate”, “money purchase contracted-out scheme” and “appropriate scheme certificate” have the meanings given by section 181(1) of the Pension Schemes Act 1993 (c. 48) (as in force immediately before that day).
3
In Schedule 4—
a
Parts 1 and 2 contain amendments which are consequential on, or related to, the provision made by subsection (1), and
b
Part 3 contains savings relating to amendments made by Part 1.
4
The amendments made by Part 1 of that Schedule have effect as from 6 April 2012 (but any power to make regulations conferred by those amendments may be exercised at any time so as to make regulations having effect as from 6 April 2012).
5
The Secretary of State may by regulations make—
a
such consequential, incidental or supplemental provision, and
b
such transitional, transitory or saving provision,
as he thinks necessary or expedient in connection with, or in consequence of, the provisions of subsection (1) and Schedule 4.
6
Regulations under subsection (5) may in particular amend, repeal or revoke any provision of any Act or subordinate legislation (whenever passed or made).
7
No regulations which amend or repeal any provision of an Act may be made under this section unless a draft of the regulations has been laid before and approved by a resolution of each House of Parliament.
8
A statutory instrument containing regulations under this section that do not fall within subsection (7) is subject to annulment in pursuance of a resolution of either House of Parliament.
S. 15 wholly in force at 6.4.2012; s. 15(2)-(8) in force at 26.9.2007, see s. 30(3); s. 15(1) in force at 6.4.2012 by S.I. 2011/1267, art. 2(a)
Words in s. 15(1) substituted (6.4.2016 unless brought into force earlier by an order under s. 56(1) of the amending Act) by Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 78(2)
Words in s. 15(4) substituted (6.4.2016 unless brought into force earlier by an order under s. 56(1) of the amending Act) by Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 78(4)
Words in s. 15(2) omitted (6.4.2016 unless brought into force earlier by an order under s. 56(1) of the amending Act) by virtue of Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 78(3)