Regulation 3 ValuationI1

Northern Ireland

(1)

For the purpose of the court’s functions in connection with the exercise of any of its powers under Schedule 15 to the Act of 2004, benefits under a pension arrangement shall be calculated and verified in the manner set out in regulation 3 of the Pensions on Divorce etc. (Provision of Information) Regulations (Northern Ireland) 2000^f1, and—

(a)

the benefits shall be valued as at a date to be specified by the court (being not earlier than one year before the date of the petition and not later than the date on which the court is exercising its power);

(b)

in determining that value the court may have regard to information furnished by the person responsible for the pension arrangement pursuant to any of the provisions set out in paragraph (2); and

(c)

in specifying a date under sub-paragraph (a) the court may have regard to the date specified in any information furnished as mentioned in sub-paragraph (b).

(2)

The relevant provisions for the purpose of paragraph (1)(b) are:

(a)

the Pensions on Divorce etc. (Provision of Information) Regulations (Northern Ireland) 2000;

(b)

regulation 5 of, and Schedule 2 to, the Occupational Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 1997^f2 and regulation 11 of, and Schedule 1 to, the Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1996^f3;

(c)

F1sections 89A and 90(1) of the Pension Schemes (Northern Ireland) Act 1993^f4;

(d)

F2section 90(2) of the Pension Schemes (Northern Ireland) Act 1993 or paragraph 2(1) (or, where applicable, 2(2)) of Schedule 2 to the Personal Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 1987^f5.

Annotations

Textual amendments

F1: Words in reg. 3(2)(c) substituted (6.4.2016) by The Pension Sharing (Miscellaneous Amendments) Regulations (Northern Ireland) 2016 (S.R. 2016/172), regs. 1, 7(a)
F2: Words in reg. 3(2)(d) substituted (6.4.2016) by The Pension Sharing (Miscellaneous Amendments) Regulations (Northern Ireland) 2016 (S.R. 2016/172), regs. 1, 7(b)

Commencement

I1: Reg. 3 in operation at 5.12.2005, see reg. 1

Footnotes

f1: S.R. 2000 No. 142.
f2: S.R. 1997 No. 98 as amended by S.R. 1997 No. 160, S.R. No. 1999 No. 486.
f3: S.R. 1996 No. 619.
f4: c. 49; section 89A was inserted by Article 149 of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) and amended by paragraph 23 of Schedule 9 to the Welfare Reform and Pensions (Northern Ireland) Order 1999; section 90 was amended by Article 150 of the Pensions (Northern Ireland) Order 1995 and paragraph 24 of Schedule 9 to the Welfare Reform and Pensions (Northern Ireland) Order 1999.
f5: S.R. 1987 No. 288.