{
  "url": "https://openlegislation.uk/pension-protection-fund-partially-guaranteed-schemes-modification-regulations-2005/regulation-10",
  "json_url": "https://openlegislation.uk/pension-protection-fund-partially-guaranteed-schemes-modification-regulations-2005/regulation-10.json",
  "legislation": "uksi/2005/277",
  "legislation_title": "The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005",
  "legislation_url": "https://openlegislation.uk/pension-protection-fund-partially-guaranteed-schemes-modification-regulations-2005",
  "path": "regulation/10",
  "kind": "regulation",
  "number": "10",
  "heading": "Assumption of responsibility",
  "text": "(1) Section 160 of the Act (transfer notice) applies as if—\n(za) in subsection (3) for “determination made or valuation obtained under section 143(2)” substitute “valuation obtained under section 143”;\n(zb) in subsection (4) the words “determination made or” were omitted;\n(a) after subsection (4), there were inserted the following subsection—\n“(4A) The Board shall, as soon as reasonably practicable after it is required to assume responsibility for an unsecured part, obtain a further actuarial valuation of the assets and protected liabilities of that part as at the date on which it is required to assume responsibility for that part; and a transfer notice may not be given in relation to the unsecured part until that valuation has been approved by the Board and become binding.”\n(b) after subsection (7), there were added the following subsections—\n“(8) Subject to subsection (9), the following provisions apply in relation to a valuation obtained under subsection (4A) as they apply in relation to a valuation and not a determination obtained under section 143 (Board's obligation to obtain valuation of assets and protected liabilities)—\n(a) subsections (4) to (7) and (11)(a), (b) and (d) of that section;\n(b) section 144 (approval of valuation); and\n(c) section 145 (binding valuations), other than subsection (2).\n(9) In the application of section 143 by virtue of subsection (8), subsections subsections (5), (5A)(b), (5B)(b) and (11)(b) of that section apply as if the references to the “relevant time” were to the date on which the Board is required to assume responsibility for the unsecured part.”\n(2) Section 161 of the Act (effect of Board assuming responsibility for a scheme) applies as if in subsection (2)—\n(a) in paragraph (b), after the words “pension obligations” there were inserted the words “ in relation to the unsecured part ”; and\n(b) for the words “the scheme is to be treated” there were substituted the words “ the unsecured part is to be treated ”.\n(3) Section 165 of the Act (guaranteed minimum pensions) applies as if, in subsection (1), for the words “member of the scheme” there were substituted the words “ member of the unsecured part ”.\n(4) Schedule 6 to the Act (transfer of property, rights and liabilities to the Board) applies as if—\n(a) in paragraph 1, after the word “liabilities” there were inserted the words “ of the unsecured part ”; and\n(b) in paragraph 3(1)—\n(i) after the word “transfer” there were inserted the words “ of the unsecured part ”; and\n(ii) after the words “in their capacity as trustees or managers” there were inserted the words “ of that part ”.\n(5) Schedule 7 to the Act (pension compensation provisions) applies as if—\n(a) for paragraphs 1 and 2, there were substituted the following paragraphs—\n“\n1 This Schedule applies for the purposes of determining the compensation payable where the Board assumes responsibility for an unsecured part in accordance with this Chapter.\n2 In this Schedule—\n(a) references to “the assessment date” are to the date on which the assessment period in relation to the scheme, or (where there has been more than one such assessment period) the last one, began; and\n(b) references to “the scheme” are to the unsecured part for which the Board has assumed responsibility.”; and\n(b) in paragraph 37(1), in the definition of “the scheme”, for the words “paragraph 1” there were substituted the words “ paragraph 2 ”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 10(1)(za)(zb) inserted (30.4.2013) by The Pension Protection Fund, Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/627), regs. 1(1), 8(5)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 10(1)(b) inserted (30.4.2013) by The Pension Protection Fund, Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/627), regs. 1(1), 8(5)(b)(i)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. 10(1)(b) substituted (30.4.2013) by The Pension Protection Fund, Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/627), regs. 1(1), 8(5)(b)(ii)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 10 partly in force; reg. 10 not in force at made date; reg. 10(5) in force at 8.3.2005 for certain purposes and reg. 10 in force at 6.4.2005 in so far as not already in force see reg. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/277/regulation/10",
    "retrieved_at": "2026-10-29T05:10:11.768512+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}