The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 and shall come into force—

(a) for the purposes of this regulation and regulations 3(4)(d) and (g), 4(2), 5(3)(b), 7, 8(1)(a) and 10(5) for the purpose only of the making of regulations, on 8th March 2005,

(b) for all other purposes, on 6th April 2005.

(2) In these Regulations—

“the Act” means the Pensions Act 2004;

“partially guaranteed scheme” means an eligible scheme(1) in respect of which a relevant public authority(2) has—

(a)

given a guarantee in relation to—

(i)

any part of the scheme;

(ii)

any benefits payable under the scheme rules; or

(iii)

any members of the scheme; or

(b)

made any other arrangements for the purposes of securing that the assets of the scheme are sufficient to meet any part of its liabilities; and

“unsecured part” means any part of a partially guaranteed scheme—

(a)

in respect of which no guarantee has been given by a relevant public authority; and

(b)

which relates to benefits payable under the scheme in respect of which—

(i)

no such guarantee has been given; and

(ii)

no other arrangements as are mentioned in section 307(3)(b) of the Act have been made.

(1)

See sections 126 and 307(4) for the meaning of “eligible scheme”.

(2)

See section 307(4) of the Act for the meaning of “relevant public authority”.