Explanatory note

This Order disapplies certain provisions of pension trust legislation to a scheme established under section 67 of the Pensions Act 2008.

Article 2 of this Order amends regulation 2 of the Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations 2005 ( S.I. 2005/2184). The article exempts a pension scheme established under section 67 of the Pensions Act 2008 (c.30) from the fraud compensation provisions in Chapter 4 of Part 2 (the Board of the Pension Protection Fund) of the Pensions Act 2004 (c.35).

Article 3 of this Order amends regulation 2 of the Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006 ( S.I. 2006/714), so that a pension scheme established under section 67 of the Pensions Act 2008 is prescribed as a trust scheme to which section 241 of the Pensions Act 2004 (requirement for member-nominated trustees) does not apply.

A full Impact Assessment has not been produced for this Order as it has no impact on the private or voluntary sectors.