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Regulation 21 Refusal to assume responsibility – schemes which become eligible schemes

England, Wales and Scotland

(1)

The prescribed period F1referred to in section 146(1) of the Act schemes which become eligible schemes) throughout which the Board must be satisfied that an occupational pension scheme is not an eligible scheme shall—

(a)

in the case of a scheme which was established at least three years before the date on which an assessment period began in relation to the scheme, be the period of three years preceding the date on which that assessment period began; F2...

(b)

in the case of a scheme which was established less than three years before the date on which an assessment period began in relation to a scheme, be the period beginning with the date on which the scheme was established and F3ending with the date on which that assessment period began; F4and

(c)

in the case of a scheme which becomes an eligible scheme on 1st April 2015 in accordance with regulation 43(1)(b) of the Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014—

(i)

where the date on which an assessment period began is less than three years after 1st April 2015, be the period beginning on 1st April 2015 and ending with the assessment date; or

(ii)

where the date on which an assessment period began is at least three years after 1st April 2015, be the period of three years preceding the date on which that assessment period began.

(2)

Paragraph (1) shall have effect in relation to—

(a)

a section of a segregated scheme;

(b)

a multi-employer section of a segregated scheme; or

(c)

a segregated part of—

(i)

a multi-employer section of a segregated scheme; or

(ii)

a non-segregated scheme,

as if that section, or segregated part, were a separate occupational pension scheme M1.

F5(3)

This regulation shall not apply where either—

(a)

regulation 2(1A) (schemes which are not eligible schemes) of these Regulations; or

(b)

regulation 2A of the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (schemes to which paragraph (1) of regulation 2 does not apply),

applies to a scheme.

Annotations

Textual amendments

F1

Words in reg. 21(1) substituted (1.4.2005) by The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 (S.I. 2005/993), regs. 1(1), 4(h)(i)

F2

Word in reg. 21(1)(a) omitted (24.7.2014) by virtue of The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 58(5)(a) (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2

F3

Words in reg. 21(1)(b) substituted (1.4.2005) by The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 (S.I. 2005/993), regs. 1(1), 4(h)(ii)

F4

Reg. 21(1)(c) and word inserted (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 58(5)(b) (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2

F5

Reg. 21(3) inserted (8.3.2010) by The Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/196), regs. 1, 3(3)

Marginal citations

M1

Section 146(1) of the Pensions Act 2004 is modified by the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I.2005/441) in its application to sections and multi-employer sections of segregated schemes and segregated parts of multi-employer sections of segregated schemes and non-segregated schemes.