The Pension Protection Fund (Closed Schemes) Regulations 2007

  1. Introductory Text

  2. 1.Citation, commencement and interpretation

  3. 2.Applications and determination notices under section 153

  4. 3.Obtaining of actuarial valuations of closed schemes

  5. 4.Valuation of the assets and liabilities of closed schemes

  6. 5.Prescribed qualifications for the purposes of section 156

  7. 6.Applications and notifications where closed schemes have insufficient assets

  8. 7.Transitional provision for schemes with an assessment date before 1st April 2007

  9. Signature

    1. SCHEDULE

      VALUATION OF THE ASSETS, THE FULL SCHEME LIABILITIES AND THE PROTECTED LIABILITIES IN RELATION TO A CLOSED SCHEME

      1. PART 1

        1. 1.In this Schedule— “contribution notice” means a notice issued under...

        2. 2.There shall be excluded from the value of the closed...

        3. 3.Subject to paragraph 6(3) and (4), where the Regulator issues...

        4. 4.Subject to paragraphs 2 and 6, in determining the value...

        5. 5.(1) Subject to paragraph 6, in the case of protected...

        6. 6.(1) For the purposes of a section 156 valuation, where...

        7. 7.A section 156 valuation shall be verified by the Board...

      2. PART 2 Contents of Accounts Audited by the Auditor of the Scheme

        1. 1.An account of the financial additions to, withdrawals from and...

        2. 2.(1) A statement, as at the end of the accounting...

        3. 3.Where any assets or liabilities are denominated in currencies other...

        4. 4.Particulars of any investment (other than in UK Government securities)...

        5. 5.Where the scheme has employer-related investments, within the meaning of...

        6. 6.In respect of every other amount shown in the accounts...

        7. 7.The total amount of the purchases and the total amount...

        8. 8.A statement whether the accounts have been prepared in accordance...

  11. Explanatory Note