Regulation 2 Interpretation

In these Regulations—

• “the Act” means the Pensions Act 2004;

• “the 2006 Act” means the Companies Act 2006^f1;

• “accounting reference date” is determined in accordance with paragraph (2);

• “annual accounts” has the meaning given in section 471 of the 2006 Act^f2;

• “charity” has the meaning given in section 1(1) of the Charities Act 2011^f3 or the meaning given in section 106 of the Charities and Trustee Investment (Scotland) Act 2005^f4 (as applicable);

• “assessment period” means—

  1. (a)

     subject to (b), the period of 12 months ending on the relevant accounting reference date;

  2. (b)

     where the employer’s annual accounts cover a period ending not more than seven days either before or after the relevant accounting reference date, a period of no less than 51 weeks and no more than 53 weeks beginning on the day immediately after the previous accounting reference date;

• “relevant accounting reference date” means the employer’s most recent accounting reference date immediately prior to the relevant time^f5.

Subject to regulation 4(7), the accounting reference date is to be determined in accordance with sections 391 and 392 of the 2006 Act.