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EXPLANATORY NOTE

(This note is not part of the Order)

This Order appoints 29th July 2014 as the day for the coming into effect of the Pensions Regulator Code of Practice No. 3: Funding defined benefits: Second issue. This replaces the previous issue of the code which came into effect on 15th February 2006.

The Code of Practice is available on the Pensions Regulator’s website: http://www.thepensionsregulator.gov.uk/doc-library/codes.aspx.

An impact assessment has not been produced for this instrument as it has no direct impact on businesses, the public sector or civil society organisations.