The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2008

PART 5 Amendment of Contracting-out Regulations

Amendment of the Occupational Pension Schemes (Contracting-out) Regulations 1996

21.  In regulation 49 of the Occupational Pension Schemes (Contracting-out) Regulations 1996(1) (insolvent schemes)—

(a) at the end of paragraph (3)(a) omit “and”;

(b) after paragraph (3)(a) insert—

“(aa) except where paragraph (3A) applies, the member is not a qualifying member of a qualifying pension scheme for the purposes of the Financial Assistance Scheme Regulations 2005(2); and”; and

(c) after paragraph (3) insert—

“(3A) This paragraph applies where—

(a) the member has been notified in accordance with regulation 50 before the date on which the Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2008 came into force; and

(b) the Commissioners for Her Majesty’s Revenue and Customs(3) receive a written application for the member’s state scheme rights to be restored in accordance with this regulation.”.

Amendment of the Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996

22.  In regulation 49 of the Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996(4) (insolvent schemes)—

(a) at the end of paragraph (3)(a), omit “and”;

(b) after paragraph (3)(a), insert—

“(aa) except where paragraph (3A) applies, the member is not a qualifying member of a qualifying pension scheme for the purposes of the Financial Assistance Scheme Regulations 2005, and”; and

(c) after paragraph (3), insert—

“(3A) This paragraph applies where—

(a) the member has been notified in accordance with regulation 50 before the date on which the Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2008 came into force, and

(b) the Commissioners for Her Majesty’s Revenue and Customs receive a written application for the member’s state scheme rights to be restored in accordance with this regulation.”.

(1)

S.I. 1996/1172. Regulation 49 was amended by S.I. 2005/3377.

(2)

S.I. 2005/1986 as amended by S.I. 2005/3256, 2006/3370, 2007/3581 and 2008/1432.

(3)

The functions of the Commissioners of Inland Revenue (“the former Commissioners”) were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5 of the Commissioners for Revenue and Customs Act 2005 (c.11). See also section 50(1) of that Act in relation to the construction of references to the former Commissioners in other enactments.

(4)

S.R. 1996 No. 493. Regulation 49 was amended by S.I. 2005/3377.