12.—(1) The trustees or managers of an occupational pension scheme to which section 87 of the 1995 Act (schedules of payments to money purchase schemes) applies, shall not be obliged to secure the preparation, maintenance or revision of a payment schedule in respect of any period before the beginning of the first scheme year which begins on or after 6th April 1997.
(2) In paragraph (1) above “scheme year" has the same meaning as in the Occupational Pension Schemes (Scheme Administration) Regulations 1996 M1.
Marginal Citations