{
  "url": "https://openlegislation.uk/pension-scheme-surpluses-valuation-regulations-1987/regulation-2",
  "json_url": "https://openlegislation.uk/pension-scheme-surpluses-valuation-regulations-1987/regulation-2.json",
  "legislation": "uksi/1987/412",
  "legislation_title": "The Pension Scheme Surpluses (Valuation) Regulations 1987",
  "legislation_url": "https://openlegislation.uk/pension-scheme-surpluses-valuation-regulations-1987",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation",
  "text": "In these Regulations unless the context otherwise requires—\n“administrator” means the person or persons having the management of a scheme;\n“Board” means Commissioners of Inland Revenue;\n“the effective date” in relation to a valuation is the date stated to be the effective date in the signed valuation;\n“employer” means employer of members of a scheme;\n“indexed-gilt” means a public sector index-linked security;\n“insured scheme” means a scheme the contributions to which, apart from voluntary contributions made by members, are invested wholly by way of insurance premiums;\na “Paragraph” (not being a paragraph of a regulation) means a paragraph of Schedule 12;\n“retail prices index” means the general index of retail prices (for all items) published by the Department of Employment;\n“Schedule 12” means Schedule 12 to the Finance Act 1986;\n“scheme” means an exempt approved scheme within the meaning of section 21 of the Finance Act 1970;\n“self-administered scheme” means a scheme some or all of the income and other assets of which are invested otherwise than in insurance policies;\n“signed valuation” has the meaning given to it by regulation 9(4).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1970 c. 24."
    }
  ],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1989/2290",
      "affecting_title": "The Pension Scheme Surpluses (Valuation) (Amendment) Regulations 1989"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/412/regulation/2",
    "retrieved_at": "2026-10-29T16:30:04.121054+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."
}