[F1 PART 3 U.K.SEGREGATED SCHEMES:

Textual Amendments

F1 Pt. 3 substituted (1.8.2005) by The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2005 (S.I. 2005/2113), regs. 1(2), 10(3)

MULTI-EMPLOYER SECTIONS WITHOUT REQUIREMENT FOR PARTIAL WIND UP ON WITHDRAWAL OF A PARTICIPATING EMPLOYER U.K.

Power to validate contraventions of section 135 and Board to act as creditor of the employer U.K.

22.— (1) Section 136 of the Act (power to validate contraventions of section 135) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if—

(a) in paragraph (c) of subsection (2), for the words “in relation to the employer, or if there is no such insolvency practitioner, the employer”, there were substituted the words “in relation to an employer, or if there is no such insolvency practitioner, that employer”; and

(b) after subsection (2), there were inserted the following subsection—

“(2A) Where the trustees or managers of a multi-employer section of a segregated scheme receive a copy of a notice from the Board under subsection (2), they must send a copy of that notice as soon as practicable to all the employers in relation to that section of the scheme and to the trustees or managers of each section of the scheme (if different).”.

(2) Section 137(2) of the Act (Board to act as creditor of the employer) shall be modified in its application to a section of a scheme to which regulation 14 applies so that it shall be read as if, for the words “the employer”, there were substituted the words “an employer”.]