SCHEDULE 20Pension Protection Fund: increased compensation cap for long service
Part 5Interpretation and power to make further transitional provision
Further transitional provision
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The inclusion of Parts 3 and 4 of this Schedule does not prevent transitional provision being made by order under section 56(8).
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(1)
In relation to a case involving multiple benefits, transitional provision made by order under section 56(8) may, in particular—
(a)
disapply or modify any provision of this Schedule;
(b)
make provision similar to any provision of this Schedule.
(2)
For these purposes, “a case involving multiple benefits” means a case mentioned in paragraph 26(9) of Schedule 7 to the Pensions Act 2004.
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(1)
Transitional provision made by order under section 56(8) may, in particular, make provision in relation to compensation payable under Chapter 1 of Part 3 of the Pensions Act 2008 (compensation sharing on divorce etc) that is similar to any provision of Part 3 of this Schedule.
(2)
Regulations under paragraph 18 of Schedule 5 to the Pensions Act 2008 which restrict an amount payable to a person in any period by reference to a modified version of the compensation cap in paragraph 26A of Schedule 7 to the Pensions Act 2004 (inserted by Part 1 of this Schedule) may also make provision similar to any provision of Part 3 of this Schedule.