Regulation 60 The pension compensation provisions

(1)

Section 162 of the Act (the pension compensation provisions) shall be modified in its application to a segregated part to which regulation 45 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 segregated part of a non-segregated scheme ”;

(b)

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

(c)

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

(d)

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

(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 segregated part to which regulation 45 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 part ”.

(3)

Section 166 of the Act (duty to pay benefits unpaid at assessment date) shall be modified in its application to a segregated part to which regulation 45 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 segregated part of a non-segregated scheme ”.