Regulation 11 General interpretation

In relation to a partially guaranteed scheme, section 318 of the Act (general interpretation) applies as if the following definitions were inserted at the appropriate alphabetical places—

• ““eligible scheme” has the meaning given by section 126;

• “partially guaranteed scheme” means an eligible scheme in respect of which a relevant public authority has—

  1. (a)

     given a guarantee in relation to—

     1. (i)

        any part of the scheme;

     2. (ii)

        any benefits payable under the scheme rules; or

     3. (iii)

        any members of the scheme; or

  2. (b)

     made any other arrangements for the purposes of securing that the assets of the scheme are sufficient to meet any part of its liabilities;

• “relevant public authority” has the meaning given by section 307(4);

• “unsecured part” means any part of a partially guaranteed scheme—

  1. (a)

     in respect of which no guarantee has been given by a relevant public authority;

  2. (b)

     which relates to benefits payable under the scheme in respect of which —

     1. (i)

        no such guarantee has been given; and

     2. (ii)

        no other arrangements as are mentioned in section 307(3)(b) of the Act have been made.”.