Paragraph 16 I1I2

In section 126 (schemes eligible for pension protection), after subsection (1) insert—

“(1A)

Where a scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 1 of the Pension Schemes Act 2021 (see section 1(2)(b) of that Act) is to be treated for the purposes of this Part as a separate money purchase scheme.”