Article 154 Receipts, record and payments: duties of pension trustees and othersI1

Article 49 of the Pensions (Northern Ireland) Order 1995 (receipts, record and payments: duties of pension trustees and others) is amended as follows.

In paragraph (1) ^f1, for the words from “at” to the end substitute “with a deposit-taker”.

Paragraph (1A) ^f2 is revoked.

In paragraph (5)^f3 for the words from “at” to “1987” substitute “with a deposit-taker”.

After paragraph (8) ^f4 insert—

“(8A)

“Deposit taker” means—

(a)

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits;

(b)

an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits;

(c)

the Bank of England or the central bank of a member state other than the United Kingdom;

(d)

the National Savings Bank; or

(e)

a municipal bank, that is to say a company which was, immediately before the repeal of the Banking Act 1987, exempted from the prohibition in section 3 of that Act by virtue of section 4(1) of, and paragraph 4 of Schedule 2 to, that Act.”

(8B)

Paragraph (8A) must be read with—

(a)

section 22 of the Financial Services and Markets Act 2000;

(b)

any relevant order under that section; and

(c)

Schedule 2 to that Act.”.