# The Occupational Pension Schemes (Fraud Compensation Levy) Regulations 2006, Regulation 2: Interpretation


In these Regulations—
“the Act” means the Pensions Act 2004;
“the Employer Debt Regulations” means the Occupational Pension Schemes (Employer Debt) Regulations 2005 ;
“financial year” means a period of 12 months ending with 31st March;
“life member”, in relation to a scheme, means a person who is an active member but whose service under the scheme is only pensionable service for the purposes of death benefits;
“member”, in relation to a scheme, means a person who is one or more of the following—
(a)an active member (but not a life member);
(b)a deferred member (including where a life member would be a deferred member if he were not an active member);
(c)a pensioner member; or
(d)a pension credit member;
“registrable scheme” means a scheme to which regulation 2 of the Register of Occupational and Personal Pension Schemes Regulations 2005 (registrable schemes) applies;
“relevant public authority” has the meaning given in section 307(4) of the Act (modification of the Act in relation to certain categories of schemes);
“scheme” means an occupational pension scheme to which Chapter 4 of Part 2 of the Act (fraud compensation) applies;
“scheme year”, in relation to a scheme, means—
(a)a year specified for the purposes of the scheme in any document comprising the scheme or, if none, a period of 12 months beginning on 1st April, or on such other date as the trustees or managers select; or
(b)such other period (if any) exceeding 6 months but not exceeding 18 months as is selected by the trustees or managers—
(i)in connection with the commencement or termination of the scheme; or
(ii)in connection with a variation of the date on which the year or period referred to in paragraph (a) is to begin;
“stakeholder pension scheme” means a stakeholder pension scheme within the meaning of section 1 of the Welfare Reform and Pensions Act 1999 (meaning of stakeholder pension scheme) which is established under a trust;
“unallocated assets”, in relation to a scheme, means any assets of the scheme which have not been specifically allocated for the provision of benefits to, or in respect of, members (whether generally or individually).

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Source: https://www.legislation.gov.uk/uksi/2006/558/regulation/2 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-fraud-compensation-levy-regulations-2006/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.