Paragraph 5 F1

(1)

This paragraph applies in the case described in sub-paragraph (2).

(2)

The case referred to in sub-paragraph (1) is where a scheme either—

(a)

satisfies the criteria in sub-paragraphs (a) and (b) of paragraph 4(2), but is not divided into sections in the manner described in sub-paragraphs (c) and (d) of that paragraph, or

(b)

satisfies the criteria in sub-paragraphs (a) and (b) of paragraph 4(3), but is not divided into sections in the manner described in sub-paragraphs (c) and (d) of that paragraph,

and part of the scheme is or was treated as a separate scheme under section 611(3) of the Income and Corporation Taxes Act 1988 M1.

(3)

Where this paragraph applies, Part 3 of the 2004 Act F2, the Funding and Investment Strategy Regulations and these Regulations shall apply as if the separated parts of the scheme were separate schemes.

Annotations

Textual amendments

F1: Sch. 2 paras. 3B-3D inserted (6.4.2018) by The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations 2018 (S.I. 2018/237), regs. 1(2), 12(2)
F2: Words in Sch. 2 para. 5(3) inserted (6.4.2024) by The Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024 (S.I. 2024/462), regs. 1(1), 20(5)

Marginal citations

M1: 1988 c. 1; section 611 is repealed by Part 3 of Schedule 42 to the Finance Act 2004 with effect from 6th April 2006.