{
  "url": "https://openlegislation.uk/draft-financial-assistance-scheme-miscellaneous-amendments-regulations-2010/regulation-4",
  "json_url": "https://openlegislation.uk/draft-financial-assistance-scheme-miscellaneous-amendments-regulations-2010/regulation-4.json",
  "legislation": "ukdsi/2010/9780111492277",
  "legislation_title": "The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010",
  "legislation_url": "https://openlegislation.uk/draft-financial-assistance-scheme-miscellaneous-amendments-regulations-2010",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Amendment of Part 1",
  "text": "In regulation 2 (interpretation)—\n(a) in the definition of “annual payment”, for “regulation 17 or 17C and Schedule 2” substitute “regulation 17, 17C or 17E and Schedule 2, 3 or 4”;\n(b) after the definition of “annual payment” insert—\n““asset share” in respect of a person means the assets available to discharge the liability of the scheme in respect of that person as determined in accordance with regulation 22(2), or, where it applies, regulation 28(1);”;\n(c) for the definition of “beneficiary” substitute—\n““beneficiary” means—\n(a) a qualifying member or, after that qualifying member’s death, the survivor and surviving dependants of that qualifying member; and\n(b) any person entitled to a payment in accordance with regulation 17G(1);”;\n(d) after the definition of “beneficiary” insert—\n““calculation date” means the last day of the month in which the scheme manager instructs the trustees or managers of a qualifying pension scheme to obtain a valuation under regulation 22;”;\n(e) in the definition of “ill health payment” for “Schedule 2A” substitute “Schedules 2A, 5 and 6”;\n(f) in the definition of “indexation date”, before “an annual payment” insert “a payment under regulation 17G, a payment under regulation 17H,”\n(g) after the definition of “multi-employer scheme” insert—\n““notional pension” means the annual rate of annuity determined in accordance with regulation 27(1)(a);\n“the Ombudsman” means the PPF Ombudsman or any person appointed under section 210(1) (deputy PPF Ombudsmen) to act as a deputy to the PPF Ombudsman;”;\n(h) after the definition of “qualifying pension scheme” insert—\n““relevant accounts” for the purposes of identifying and valuing the assets of a scheme, means the audited accounts for the scheme which—\n(a) show a true and fair view of—\n(i) the financial transactions of the scheme during the period to which the accounts relate (“the accounting period”);\n(ii) the amount and disposition of the assets at the end of the accounting period; and\n(iii) the liabilities of the scheme, other than the liabilities to pay pensions and benefits after the end of the accounting period;\n(b) are in such manner and form as the scheme manager may request;\n(c) include a report by the auditor in writing as to whether or not in the auditor’s opinion the requirements in paragraphs (a) and (b) above are satisfied; and\n(d) are prepared in respect of the period ending with the calculation date;”;\n(i) after the definition of “scheme manager” insert—\n““scheme rules” means the rules of the qualifying pension scheme;”;\n(j) after the definition of “survivor” insert—\n““survivor notional pension” means the annual rate of annuity determined in accordance with regulation 27(1)(c);”;\n(k) after the definition of “tax approved scheme” insert—\n““transfer notice” means the notice given under regulation 29;”; and\n(l) after the definition of “trustees or managers” insert—\n““valuation actuary” has the meaning given in regulation 22(5),”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2010/9780111492277/regulation/4",
    "retrieved_at": "2026-10-30T14:55:33.496280+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}