Regulation 12 Total or partial winding up of an alternative scheme
If an alternative scheme is partially or totally wound up, each employer of protected employees who participates in that scheme shall forthwith notify each of his protected employees of the alternative arrangements he proposes to make and shall as soon as practicable provide a relevant scheme and enable such employees to participate in that scheme.
Subject to paragraph (3), the future pension rights to be provided by the relevant scheme provided under paragraph (1) shall be no worse than those required to be provided by these Regulations under the scheme which the relevant scheme is provided to replace.
If–
the relevant scheme provided under paragraph (1) is the North Scheme or the South Scheme; and
the employer joins a pension group other participants in which employ protected employees;
the future pension rights of the persons for whom the scheme is provided under this regulation shall be no worse than those provided for the existing protected employees of that pension group in the Scheme.