Regulation 3 Schemes which cease to be eligible schemesI1

Northern Ireland

(1)

Where, after the beginning of an assessment period in relation to an eligible scheme, the scheme ceases to be an eligible scheme in circumstances where –

F1(a)

the scheme has ceased to be a tax registered scheme, F2...

(b)

by reason of the death of a member of the scheme, the scheme becomes a scheme described in regulation 2(1)(k), (l) or (m), F3or

(c)

the employer in relation to the scheme, or the last remaining employer in relation to a multi-employer scheme, is dissolved,

the scheme shall, for the purposes of Part III of the Order, be treated as remaining an eligible scheme.

(2)

Paragraph (1) does not affect the requirement on the Board under Article 130(1) (schemes which become eligible schemes) to refuse to assume responsibility for an eligible scheme if it is satisfied that the scheme was not an eligible scheme throughout the period prescribed in regulation 21.

F4(3)

In its application to a segregated scheme, paragraph (1) shall have effect as if each section of the scheme were a separate scheme.

Annotations

Textual amendments

F1: Reg. 3(1)(a) substituted (6.4.2006) by The Pension Protection Fund (General and Miscellaneous Amendments) Regulations (Northern Ireland) 2006 (S.R. 2006/155), regs. 1(1)(b), 21(4)
F2: Word in reg. 3(1)(a) omitted (2.8.2008) by virtue of The Pension Protection Fund (Entry Rules) (Amendment) Regulations (Northern Ireland) 2008 (S.R. 2008/303), regs. 1, 2(a)
F3: Reg. 3(1)(c) and word inserted (2.8.2008) by The Pension Protection Fund (Entry Rules) (Amendment) Regulations (Northern Ireland) 2008 (S.R. 2008/303), regs. 1, 2(a)(ii)
F4: Reg. 3(3) added (2.8.2008) by The Pension Protection Fund (Entry Rules) (Amendment) Regulations (Northern Ireland) 2008 (S.R. 2008/303), regs. 1, 2(b)

Commencement

I1: Reg. 3 in operation at 6.4.2005, see reg. 1(1)(b)