Regulation 2 Amendment of the FAS Regulations

Regulation 9 of the FAS Regulations (qualifying pension schemes) is amended as follows.

At the beginning of paragraph (1)(b) insert “except where paragraph (1B) applies,”.

After paragraph (1A)^f1 insert—

“(1B)

This paragraph applies where—

(a)

the scheme began to wind up during the period beginning on 6th April 2005 and ending on 22nd December 2008;

(b)

paragraph (i) or (ii) of paragraph (1)(c)^f2 applies by virtue of an insolvency event which occurred before 6th April 2005; and

(c)

there has not been an insolvency event in relation to the relevant employer which would be a qualifying insolvency event for the purposes of section 127^f3 or Article 111^f4 (duty to assume responsibility for schemes following insolvency event) if the scheme were an eligible scheme.

(1C)

In paragraph (1B)—

• “eligible scheme” has the meaning given in section 126^f5 or, as the case may be, Article 110^f6 (eligible schemes);

• “relevant employer” means the employer in relation to the scheme or, in relation to a multi-employer scheme, any employer or employers in relation to the scheme.”.