# The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005, Regulation 5: Restrictions on schemes during the assessment period


(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 ”.

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Source: https://www.legislation.gov.uk/uksi/2005/277/regulation/5 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-partially-guaranteed-schemes-modification-regulations-2005/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.