Regulation 17 Duty to assume responsibility for schemesF1

for subsection (1), there were substituted the following subsection—

“(1)

This section applies where a qualifying insolvency event has occurred in relation to an employer in relation to a multi-employer section of a segregated scheme.”;

for subsection (3), there were substituted the following subsection—

“(3)

For the purposes of this section, an insolvency event (“the current event”) in relation to an employer in relation to a multi-employer section of a segregated scheme which is, for the purposes of this Part, an eligible scheme, is a qualifying insolvency event if—

(a)

it occurs—

(i)

simultaneously in relation to more than one of the employers in relation to that section of the scheme at a time when those employers are the only employers in relation to that section, or

(ii)

in relation to an employer in relation to that section of the scheme at a time when all other employers in relation to that section have either had—

(aa)

an insolvency event occur in relation to them and an insolvency practitioner is still required by law to be appointed to act in relation to them, or

(bb)

a notice given in respect of them by the trustees or managers of the section under section 129(1A) or a notice given by the Board in respect of them under section 129(5) by virtue of a notice given by the Regulator under section 129(4)(a),

(b)

it occurs on or after the day appointed under section 126(2), and

(c)

it—

(i)

is the first insolvency event to occur in relation to that employer on or after that day, or

(ii)

does not occur within an assessment period (see section 132) in relation to the section which began before the occurrence of the current event.”.

for subsection (1), there were substituted the following subsection—

“(1)

Where the trustees or managers of a multi-employer section of a segregated scheme which is, for the purposes of this Part, an eligible scheme—

(a)

have—

(i)

notified the Board in accordance with subsection (1A) that an employer in relation to the section is unlikely to continue as a going concern at a time when all other employers in relation to that section have either had—

(aa)

an insolvency event occur in relation to them and an insolvency practitioner is still required by law to be appointed to act in relation to them, or

(bb)

a notice given in respect of them by the trustees or managers of the section under subsection (1A) or a notice given by the Board in respect of them under subsection (5) by virtue of a notice given by the Regulator under subsection (4)(a), or

(ii)

ii)received a notice given by the Board under subsection (5) by virtue of a notice given by the Regulator under subsection (4)(a) in respect of an employer in relation to the section at a time when all other employers in relation to that section have either had—

(aa)

an insolvency event occur in relation to them and an insolvency practitioner is still required by law to be appointed to act in relation to them, or

(bb)

a notice given in respect of them by the trustees or managers of the section under subsection (1A) or a notice given by the Board in respect of them under subsection (5) by virtue of a notice given by the Regulator under subsection (4)(a), or

(b)

are aware that a person is no longer an employer, or that persons are no longer employers, in relation to the section at a time when—

(i)

all other employers in relation to that section have either had—

(aa)

an insolvency event occur in relation to them and an insolvency practitioner is still required by law to be appointed to act in relation to them, or

(bb)

a notice given in respect of them by the trustees or managers of the section under subsection (1A) or a notice given by the Board in respect of them under subsection (5) by virtue of a notice given by the Regulator under subsection (4)(a), and

(ii)

at least one such insolvency event occurred, or at least one such notice was given under subsection (1A) or (5) by virtue of a notice given by the Regulator under subsection (4)(a), on or after 6th April 2005 in relation to an employer in relation to that section,

they must, except where an assessment period has already begun in relation to that section of the scheme, make an application to the Board for it to assume responsibility for the section under section 128.”;

after subsection (1), there were inserted the following subsections—

“(1A)

Where the trustees or managers of a multi-employer section of a segregated scheme which is, for the purposes of this Part, an eligible scheme become aware that an employer in relation to that section—

(a)

is unlikely to continue as a going concern, and

(b)

the prescribed requirements are met in relation to that employer,

they must give the Board a notice to that effect.

(1B)

The notice which must be given to the Board in accordance with subsection (1A) must be in writing and must contain the following information—

(a)

a description of the type or purpose of the notice,

(b)

the name of the employer in relation to the section of the scheme in respect of which the notice is given,

(c)

a statement by the trustees or managers of the section that the employer in respect of which the notice is given is unlikely to continue as a going concern and that the requirements prescribed under subsection (1A)(b) have been met in relation to that employer,

(d)

the date on which the trustees or managers of the section became aware that the employer in respect of which the notice is given is unlikely to continue as a going concern, and

(e)

the date on which the notice was sent to the Board by the trustees or managers of the scheme.

(1C)

Where the trustees or managers of a multi-employer section of a segregated scheme which is, for the purposes of this Part, an eligible scheme make an application to the Board under subsection (1)(a) or (b), they must as soon as practicable notify that fact to all the employers in relation to that section of the scheme and to the trustees or managers of each section of the scheme (if different).”;

for subsection (4), there were substituted the following subsection—

“(4)

Where, in relation to a multi-employer section of a segregated scheme which is, for the purposes of this Part, an eligible scheme, the Regulator—

(a)

becomes aware that an employer in relation to that section of the scheme—

(i)

is unlikely to continue as a going concern, and

(ii)

meets the requirements prescribed under subsection (1A)(b), or

(b)

is aware that a person is no longer an employer, or that persons are no longer employers, in relation to that section of the scheme at a time when—

(i)

all other employers in relation to that section of the scheme have either had—

(aa)

an insolvency event occur in relation to them and an insolvency practitioner is still required by law to be appointed to act in relation to them, or

(bb)

a notice given in respect of them by the trustees or managers of the section under subsection (1A) or a notice given by the Board in respect of them under subsection (5) by virtue of a notice given by the Regulator under subsection (4)(a), and

(ii)

at least one such insolvency event occurred, or at least one such notice was given under subsection (1A) or (5) by virtue of a notice given by the Regulator under subsection (4)(a), on or after 6th April 2005 in relation to an employer in relation to that section of the scheme,

it must, except where an assessment period has already begun in relation to that section of the scheme, give the Board a notice to that effect.”; and

after subsection (5), there were inserted the following subsection—

“(5A)

Where the trustees or managers of a multi-employer section of a segregated scheme receive a notice from the Board under subsection (5), they must send a copy of that notice as soon as practicable to all the employers in relation to that section of the scheme and to the trustees or managers of each section of the scheme (if different).”.