# The Pension Protection Fund (Levy Ceiling) Regulations (Northern Ireland) 2006, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations make provision in relation to the levy ceiling for the financial year beginning on 1st April 2007.
Article 158 of the Pensions (Northern Ireland) Order 2005 (“the Order”) provides that the Board of the Pension Protection Fund (“the Board”) must impose pension protection levies for each financial year falling after the initial period (as defined in Article 157 of the Order). Article 160 of the Order provides for the amount to be raised by the pension protection levies. By virtue of Article 160(2) of the Order, the amount of the levies for a financial year must not exceed the levy ceiling for that financial year. These Regulations modify Article 160(2) of the Order to provide that, for the financial year beginning on 1st April 2007, the levies imposed must be in a form which the Board estimates will raise an amount not exceeding £718,750,000.
The Pensions (2005 Order) (Commencement No. 10 and Savings) Order (Northern Ireland) 2006 (S.R. 2006 No. 352 (C. 19)) provides for the coming into operation of Article 160(4), under which these Regulations are made, on 1st September 2006.
As these Regulations are made before the end of the period of six months beginning with the coming into operation of the provision of the Order by virtue of which they are made, the requirement to consult under Article 289(1) of the Order does not apply by virtue of paragraph (2)(c) of that Article.

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Source: https://www.legislation.gov.uk/nisr/2006/409/note (the official version)
Page: https://openlegislation.uk/pension-protection-fund-levy-ceiling-regulations-northern-ireland-2006/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.