Regulation 13 Amendment of Schedule 1

after paragraph 3 insert—

“3A.

In section 134 (directions)—

(a)

in subsection (1), for “there is an assessment period in relation to an eligible scheme” substitute “an occupational pension scheme is a qualifying pension scheme under section 286(2) which has not been fully wound up”;

(b)

in subsection (2), for the words from the beginning to “is kept to a minimum” substitute “With a view to ensuring that any reduction in the scheme’s assets is kept to a minimum or that the assets of the scheme are invested in a way which, in the opinion of the scheme manager, is appropriate”;

(c)

in subsections (2) and (4), for “the Board”, substitute “the scheme manager”; and

(d)

in subsection (3), after paragraph (a)(i) insert—

“(ia)

a professional adviser to the scheme;

(ib)

any other person appearing to the scheme manager to be a person who carries out, or is likely to carry out, activities relevant to the use of the assets of the scheme;”.”;

for paragraph 6 substitute—

“6.

In section 191 (notices requiring provision of information to the Board)—

(a)

in subsection (1)(b), after “the Board’s” insert “or scheme manager’s”;

(b)

in subsection (2)—

(i)

before paragraph (a), insert—

“(za)

the scheme manager, in relation to the scheme manager’s functions,”;

(ii)

in paragraph (a), after “the Board,” insert “in relation to the Board’s functions,”; and

(iii)

in paragraph (b), after “the Board” insert “or scheme manager”; and

(c)

in subsection (3)—

(i)

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

(ii)

after paragraph (d), insert—

“(da)

in the case of a wound up scheme, any insurance company (within the meaning of the Financial Assistance Scheme Regulations 2005^f1) which is paying annuities to former members of the scheme, and”; and

(iii)

in paragraph (e)—

(aa)

after “the Board” insert “, scheme manager”; and

(bb)

after “the Board’s” insert “or scheme manager’s”.”.