Regulation 4 Amendment of the Occupational Pension Schemes (Winding Up) Regulations 1996

The Occupational Pension Schemes (Winding Up) Regulations 1996^f1 are amended as follows.

For regulation 1(5) (interpretation)^f2 substitute—

“(5)

References in these Regulations to BAS standards are to guidance or standards adopted or prepared, and from time to time revised, by the Board for Actuarial Standards, which are relevant to the determination, calculation and verification of the amount or value of the liabilities of the scheme to which section 73 applies.”.

In regulation 4(1)(d)(calculation of the value or amount of scheme assets and liabilities)^f3, for “the guidance given in GN19, so far as that guidance applies for the purposes of these Regulations” substitute “any relevant BAS standards”.