The Financial Assistance Scheme Regulations 2005

  1. Introductory Text

  2. PART 1 GENERAL

    1. 1.Citation, commencement and extent

    2. 2.Interpretation

    3. 3.Commencement of winding up

    4. 4.Application of Parts 1 and 2 of the Act

  3. PART 2 ESTABLISHMENT OF THE FINANCIAL ASSISTANCE SCHEME

    1. 5.Scheme manager

    2. 6.Funding

    3. 7.Annual reports

    4. 8.Delegation

  4. PART 3 QUALIFYING PENSION SCHEMES

    1. 9.Qualifying pension schemes

    2. 10.Other schemes which are not qualifying pension schemes

    3. 11.Condition to be satisfied by employer

    4. 12.Condition to be satisfied: multi-employer schemes

    5. 13.Insolvency events

    6. 14.Notification of details

  5. PART 4 QUALIFYING MEMBERS

    1. 15.Qualifying members

    2. 16.Insufficient assets

  6. PART 5 ANNUAL AND INITIAL PAYMENTS

    1. 17.Annual payments

    2. 18.Initial payments

  7. PART 6 ADMINISTRATION OF PAYMENTS

    1. 19.Time and manner of payment: general provisions

    2. 20.Direct credit transfer

  8. Signature

    1. SCHEDULE 1

      MODIFICATION OF CERTAIN PROVISIONS OF PARTS 1 AND 2 OF THE ACT

      1. 1.In section 68 (power for the Regulator to collect information...

      2. 2.In section 85 (disclosure by the Regulator for facilitating the...

      3. 3.In section 88(4) (disclosure of tax information by the Regulator),...

      4. 4.In section 168 (administration of compensation payable by the Board)—...

      5. 5.In section 190 (information to be provided to the Board...

      6. 6.In section 191 (notices requiring provision of information to the...

      7. 7.In section 192 (entry of premises to enable performance of...

      8. 8.In section 194 (warrants to enforce entry of premises and...

      9. 9.In section 195(1)(b) (offence of providing false or misleading information...

      10. 10.In section 196 (use of information by the Board)—

      11. 11.In section 197 (restricted information)— (a) in subsections (1) and...

      12. 12.In section 198 (disclosure by the Board of restricted information...

      13. 13.In section 200(1) (disclosure by the Board of restricted information...

      14. 14.In section 201 (other permitted disclosures of restricted information by...

      15. 15.In section 203 (provision of information to members of schemes...

      16. 16.In section 204 (interpretation of sections 190 to 203)—

    2. SCHEDULE 2

      DETERMINATION OF ANNUAL AND INITIAL PAYMENTS

      1. 1.Introductory

      2. 2.Actual pension

      3. 3.Qualifying members receiving pensions from the qualifying pension scheme

      4. 4.Active and deferred members

      5. 5.Survivors of qualifying members

      6. 6.Exclusion of certain benefits

      7. 7.Cap on expected pension and actual pension

      8. 8.De minimis rule

      9. 9.Revaluation

      10. 10.Initial payments

      11. 11.Rounding

  10. Explanatory Note