Regulation 13 The pension compensation provisions

(1)

Section 162 of the Act (the pension compensation provisions) shall be modified in its application to a section of a segregated scheme to which regulation 2 applies so that it shall be read as if, in subsection (1)—

(a)

for the words “in relation to a scheme”, there were substituted the words “ in relation to a section of a segregated scheme ”;

(b)

after the word “members” in paragraphs (a) and (b), there were added the words “ of that section ”;

(c)

after the word “payable” in paragraph (c), there were added the words “ to or in respect of members of that section ”; and

(d)

at the end of paragraph (d), there were added the words “ payable to or in respect of members of that section ”.

(2)

Section 163 of the Act (adjustments to be made where the Board assumes responsibility for a scheme) shall be modified in its application to a section of a segregated scheme to which regulation 2 applies so that it shall be read as if, after the words “to any member” in paragraph (a) of subsection (2), there were inserted the words “ of that section ”.

(3)

Section 166 of the Act (duty to pay scheme benefits unpaid at assessment date etc) shall be modified in its application to a section of a segregated scheme to which regulation 2 applies so that it shall be read as if, for the words “assumes responsibility for a scheme” in subsection (1), there were substituted the words “ assumes responsibility for a section of a segregated scheme with only one employer in relation to that section of the scheme ”.