Regulation 5 Restrictions on schemes during the assessment periodI1

(1)

Section 134 of the Act (directions) applies as if, in subsection (2), for the words “the scheme's protected liabilities” there were substituted the words “ the protected liabilities of the unsecured part ”.

(2)

Section 136 of the Act (power to validate contraventions of section 135) applies as if, in subsection (1), for the words “the scheme's protected liabilities” there were substituted the words “ the protected liabilities of the unsecured part ”.

(3)

Section 138 of the Act (payment of scheme benefits) applies as if—

(a)

in subsection (2)(a), for the words “responsibility for the scheme” there were substituted the words “ responsibility for the unsecured part ”;

(b)

in subsection (12)(a), for the words “member of the scheme” there were substituted the words “ member of the unsecured part ”.

(4)

Section 139 of the Act (loans to pay scheme benefits) applies as if, in subsection (2), after the word “benefits”, in each place where that word appears, there were inserted the words “ relating to the unsecured part ”.

Annotations

Commencement

I1: Reg. 5 partly in force; reg. 5 not in force at made date; reg. 5(3)(b) in force at 8.3.2005 for certain purposes and reg. 5 in force at 6.4.2005 in so far as not already in force see reg. 1(1)