The Pension Protection Fund (Entry Rules) Regulations 2005
1
Citation, commencement and interpretation
2
Schemes which are not eligible schemes
3
Schemes which cease to be eligible schemes
4
Notification of insolvency events in respect of employers
5
Prescribed insolvency events
5A
European insolvency event
6
Circumstances in which insolvency proceedings in relation to the employer are stayed or come to an end
7
Applications and notifications to the Board
7A
Applications and notifications to the Board – multi-employer schemes
8
Applications and notifications to the Board – further provision
8A
Applications and notifications to the Board – further provision for multi-employer schemes
9
Confirmation of scheme status by insolvency practitioner
10
Confirmation of scheme status by Board
11
Confirmation of scheme status by insolvency practitioner – multi-employer schemes
12
Confirmation of scheme status by Board – multi-employer schemes
13
Confirmation of scheme status – binding notices
14
Contributions to schemes
15
Directions
16
Restrictions on winding up, discharge of liabilities etc
17
Payment of scheme benefits
17A
Exception to section 138(2A)
18
Loans to pay scheme benefits
19
Withdrawal following issue of section 122(4) notice
20
Consequences of the Board ceasing to be involved with a scheme
21
Refusal to assume responsibility – schemes which become eligible schemes
22
Refusal to assume responsibility – new schemes created to replace existing schemes
23
Form and content of withdrawal notices issued under sections 146 and 147 of the Act
24
Applications for reconsideration
25
Form and content of audited scheme accounts
SCHEDULE
CONTENTS OF ACCOUNTS AUDITED BY THE AUDITOR OF THE SCHEME
1
An account of the financial additions to, withdrawals from and...
2
(1) A statement, as at the end of the accounting...
3
Where any assets or liabilities are denominated in currencies other...
4
Particulars of any investment (other than in UK Government securities)...
5
Where the scheme has employer-related investments, within the meaning of...
6
In respect of every other amount shown in the accounts...
7
The total amount of the purchases and the total amount...
8
A statement whether the accounts have been prepared in accordance...
2005 No. 590

PENSIONS

The Pension Protection Fund (Entry Rules) Regulations 2005
Made
10th March 2005
Laid before Parliament
10th March 2005
Coming into force as provided for in regulation 1(2)
The Secretary of State for Work and Pensions, in exercise of the powers conferred upon him by sections 120(3) and (4), 121(5), 122(3), (5) and (8), 123(5), 126(1)(b), (3) and (5), 129(1)(b), (3) and (8), 130(5) and (8), 133(3), 134(3)(a)(iii), 135(4), 138(10)(b) and (12), 139(6), 146(1) and (5), 147(1)(a) and (5), 148(8), 150(5) and (6)(a) to (c), 151(4), (6), (8) and (9)(b), 315(2), (4) and (5) and 318(1) and (4)(a) of the Pensions Act 2004 , and of all other powers enabling him in that behalf, by this instrument, which contains regulations made before the end of the period of six months beginning with the coming into force of the provisions of the enactment by virtue of which they are made , hereby makes the following Regulations:
2004 c. 35. Section 318(1) is cited because of the meaning there given to “prescribed” and “regulations”. Sections 122(3), 126(1), 129(1)(b), 134(3), 146(1) and 147(1)(a) are modified in their application to multi-employer schemes by the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441) which also modifies other provisions of Part 2 of the Pensions Act 2004. Sections 129(1), 138(12), 146(1), 147(1)(a) and 151(8) are also modified in their application to partially guaranteed schemes by the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (S.I. 2005/277) which also modifies other provisions of Part 2 of the Pensions Act 2004.
See section 317 of the Pensions Act 2004 which provides that the Secretary of State must consult such persons as he considers appropriate before making regulations by virtue of the provisions of that Act (other than Part 8). This duty does not apply where regulations are made before the end of six months beginning with the coming into force of the provisions of that Act by virtue of which the regulations are made.
Regulations applied (with modifications) (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), reg. 2, Sch. 3 paras. 2, 3 (with reg. 5); (as amended (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 4)
Instrument applied (with modifications) (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 1, Sch. 6 Pt. 1 (with reg. 27(a))
Instrument applied (with modifications) (21.2.2009) by The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (S.I. 2009/317), arts. 1, 3, Sch.