Regulation 3 Centralised schemesI1

F1Sections 119 to 122 of the Pension Schemes Act 1993 are modified as described in this regulation in their application to any occupational pension scheme which applies to earners in employments under different employers (“centralised schemes”).

F2Section 119 of the Pension Schemes Act 1993 applies in relation to a centralised scheme only if an insolvency practitioner, or the official receiver, starts to act in relation to any employer of persons in the description or category of employment to which the scheme relates and—

Where section 119 of the Pension Schemes Act 1993 applies in relation to a centralised scheme, references to “the employer” in that section and in F3sections 120 to 122 of that Act are to be treated as references to the employer in relation to whom the practitioner or official receiver is acting.

Where section 119 of the Pension Schemes Act 1993 applies in relation to a centralised scheme, it shall not cease to do so by virtue of F4subsection (6)(a) of that section unless the power to appoint or remove any trustee of the scheme is transferred to the person other than the employer concerned, or to any person who is “independent” for the purposes of subsection (2) of that section.