Regulation 6 Special circumstances where revised actuarial valuations and certificates must be obtained

in paragraph (2)(a), for “of the admission body” substitute “of the fund in respect of current and former employees of the admission body ”;

in paragraph (2A) after the words “the outgoing admission body” insert “ or from an insurer or any person providing a guarantee or indemnity on behalf of that admission body,”; and

after paragraph (2A) insert the following–

“(2B)

An administering authority may obtain from an actuary a certificate specifying, in the case of an admission body, the percentage or amount by which, in the actuary’s opinion,–

(a)

the contribution at the common rate should be adjusted, or

(b)

any prior individual adjustment should be increased or reduced,

with a view to providing that the value of the assets of the fund in respect of current and former employees of that admission body is neither materially more nor materially less than the anticipated liabilities of the fund in respect of those employees at the date that the admission agreement is to end.”.