{
  "url": "https://openlegislation.uk/financial-assistance-scheme-regulations-2005/regulation-33",
  "json_url": "https://openlegislation.uk/financial-assistance-scheme-regulations-2005/regulation-33.json",
  "legislation": "uksi/2005/1986",
  "legislation_title": "The Financial Assistance Scheme Regulations 2005",
  "legislation_url": "https://openlegislation.uk/financial-assistance-scheme-regulations-2005",
  "path": "regulation/33",
  "kind": "regulation",
  "number": "33",
  "heading": "Transfer of residual assets to the Secretary of State where Part 7 does not apply",
  "text": "(1) This regulation applies where—\n(a) Part 7 does not apply to a qualifying pension scheme because the liabilities to or in respect of all members and former members have been discharged;\n(b) the trustees or managers continue to hold assets for the scheme;\n(c) the trustees or managers have notified the scheme manager in writing that they wish to transfer the assets to the Secretary of State; and\n(d) the scheme manager is satisfied that—\n(i) either—\n(aa) the cost of distributing the remaining assets to the members or former members of the scheme would be disproportionate; or\n(bb) the distribution of the remaining assets would not be of overall benefit to the members or former members of the scheme;\n(ii) the assets can be transferred to the Secretary of State; and\n(iii) it is appropriate that the assets are transferred to the Secretary of State.\n(2) Where this regulation applies, the trustees or managers of a qualifying pension scheme to which Part 7 does not apply may transfer the remaining assets to the Secretary of State at such time as the Secretary of State may decide.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pts. 7, 8, 9 inserted (2.4.2010) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/1149), regs. 1, 14, Sch. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/1986/regulation/33",
    "retrieved_at": "2026-10-29T04:55:48.068452+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."
}