(This note is not part of the Order)
This Order brings into force further provisions of the Welfare Reform and Pensions Act 1999 (“the Act”). It also makes an amendment to a previous commencement order.
Article 1 deals with citation and interpretation.
Article 2 brings fully into force on 6th April 2002 sections 11 to 16 of the Act, which concern the effect of bankruptcy on an individual’s pension rights, and related consequential amendments and repeals in Schedules 2, 12 and 13 to that Act.
Article 3 amends the Welfare Reform and Pensions Act 1999 (Commencement No. 12) Order 2001 so as to revoke the day appointed for the coming into force of paragraph 14 of Schedule 2, which relates to the minimum funding requirement for occupational pension schemes, and section 18, section 88 and Part I of Schedule 13 so far as relating to paragraph 14 of Schedule 2.
This Order has only a negligible cost for business; a Regulatory Impact Assessment is therefore not necessary.