# The Money Purchase Contracted-out Schemes Regulations 1987, Regulation 1: Citation, commencement and interpretation


(1) These Regulations may be cited as the Money Purchase Contracted-out Schemes Regulations 1987 and shall come into force on 6th April 1988.
(2) In these Regulations, unless the context otherwise requires—
“the 1975 Act” means the Social Security Pensions Act 1975;
“the 1986 Act” means the Social Security Act 1986;
“earnings period” has the same meaning as in the Social Security (Contributions) Regulations 1979;
“emoluments” means so much of a person’s remuneration or profit derived from employed earner’s employment as constitutes earnings for the purposes of the Social Security Act 1975;
“Friendly Society” means a Friendly Society registered under section 7(1)(a) of the Friendly Societies Act 1974, or, as the case may be, under section 1(1)(a) of the Friendly Societies Act (Northern Ireland) 1970;
“futures” has the meaning assigned to that word by paragraph 8 of Schedule 1 to the Financial Services Act 1986;
“government, local authority or public authority” means—
(a) the government of any member State;
(b) a local authority in any member State; or
(c) any international organisation the members of which comprise any member States;
“income tax month” means the period beginning on the 6th day of any calendar month and ending on the 5th day of the following calendar month;
“investment trust company” means a company which has been approved for the purposes of section 359 of the Income and Corporation Taxes Act 1970;
“issuer”, in relation to any securities, has the meaning assigned to that word by section 142(7) of the Financial Services Act 1986;
“options” has the meaning assigned to that word by paragraph 7 of Schedule 1 to the Financial Services Act 1986;
“recognised Stock Exchange” has the meaning assigned to that expression by paragraph 13 of Schedule 13 to the Insurance Companies Regulations 1981;
“scheme” means occupational pension scheme;
“securities”—
(a) in relation to any government, local authority or public authority, means any investment which would fall within paragraph 3 of Schedule 1 to the Financial Services Act 1986 if “government, local authority or public authority” had the same meaning in that paragraph as in these Regulations; and
(b) otherwise means any investment falling within paragraph 1, 2, 4 or 5 of that Schedule;
“trustees”, in relation to a scheme which is not set up or established under a trust, means the managers of the scheme;
and other expressions have the same meaning as in the 1975 Act.
(3) In these Regulations, unless the context otherwise requires, any reference—
(a) to a numbered regulation is to the regulation in these Regulations bearing that number;
(b) in a regulation to a numbered paragraph is to the paragraph of that regulation bearing that number;
(c) in a paragraph to a lettered sub-paragraph is to the sub-paragraph of that paragraph bearing that letter.

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Source: https://www.legislation.gov.uk/uksi/1987/1101/regulation/1 (the official version)
Page: https://openlegislation.uk/money-purchase-contracted-out-schemes-regulations-1987/regulation-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.