Explanatory note

These Regulations prescribe the relevant person’s powers in respect of amending the scheme’s rules as a matter for the purposes of section 134(2) of the Pensions Act 2004. Section 134(2) allows the Board of the Pension Protection Fund, with a view to ensuring that the scheme’s protected liabilities do not exceed its assets, or if they do, that the excess is kept to a minimum, to give directions regarding the exercise, during the assessment period, of the relevant person’s powers in respect of specified matters and such other matters as may be prescribed.

A full impact assessment has not been produced for these Regulations as they have no impact on the private or voluntary sectors.