# The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005, Regulation 2: Modification of Part 2 of the Act

Extent: E+W+S+N.I.

(1) In relation to a partially guaranteed scheme, Part 2 of the Act (the Board of the Pension Protection Fund) applies with the modifications prescribed in regulations 3 to 11.
(2) Paragraph (1) shall not apply in relation to a partially guaranteed scheme where—
(a) the scheme was in existence immediately prior to IP completion day; and
(b) the application of paragraph (1) immediately prior to IP completion day would have given rise to State aid that was incompatible with the internal market within the meaning of Article 107 of the Treaty as it had effect in the United Kingdom immediately prior to IP completion day.
(3) Regulations 2A (schemes to which paragraph (1) of regulation 2 does not apply) and 11 (general interpretation) shall apply where paragraph (1) does not apply to a partially guaranteed scheme by virtue of paragraph (2).

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Source: https://www.legislation.gov.uk/uksi/2005/277/regulation/2 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-partially-guaranteed-schemes-modification-regulations-2005/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.