Regulation 5 Amendment of the Occupational Pension Schemes (Scheme Funding) Regulations 2005

(1)

Amend the Occupational Pension Schemes (Scheme Funding) Regulations 2005^f1 as follows.

(2)

In regulation 8 (recovery plan), omit paragraph (8).

(3)

In regulation 17 (exemptions – general)—

(a)

in paragraph (1)(l), for “subject to regulation 18” substitute “subject to paragraph (1A) and regulation 18”;

(b)

after paragraph (1) insert—

“(1A)

Section 231A of the 2004 Act applies to a scheme where—

(a)

a recovery plan has been prepared under section 226 of the 2004 Act, and

(b)

the scheme begins to wind up during the recovery period.”.

(4)

after paragraph (2) insert—

“(2A)

In paragraph (1A) “recovery period” means the period specified in the scheme’s recovery plan in accordance with section 226(2)(b) of the 2004 Act;”.

Annotations

Footnotes

f1: S.I. 2005/3377.