Regulation 2 Amendment of the Occupational Pension Schemes (Levies) Regulations 2005

(1)

The Occupational Pension Schemes (Levies) Regulations 2005^f1 are amended in accordance with this regulation.

(2)

In regulation 7 (schemes eligible for only part of the financial year), after paragraph (2) insert—

“(3)
Where a scheme to which this regulation applies becomes an eligible scheme during a financial year by virtue of—

(a)
regulation 2(1A) of the Pension Protection Fund (Entry Rules) Regulations 2005^f2 (schemes which are not eligible schemes); or

(b)
regulation 2A of the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005^f3 (schemes to which paragraph (1) of regulation 2 does not apply),

paragraph (2) does not apply to the scheme (and so the full amount of the administration levy is payable).”.

(3)

In regulation 16 (partially guaranteed schemes)—

(a)

at the beginning of paragraph (1) insert “Subject to paragraph (1A),”; and

(b)

after paragraph (1) insert—

“(1A)
This regulation does not apply where regulation 2A of the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (schemes to which paragraph (1) of regulation 2 does not apply) applies.”.

Annotations

Footnotes

f1: S.I. 2005/842, relevant amending instrument is S.I. 2007/994.
f2: S.I. 2005/590. Regulation 2(1A) was inserted by S.I. 2010/196.
f3: S.I. 2005/277. Regulation 2A was inserted by S.I. 2010/196.