OpenLegislation

Section 46 Powers of Board to approve arrangements for scheme ceasing to be certified.C1C2

Northern Ireland

(F11)

In the case of an occupational pension scheme F2... which is or has been certified as a F3salary related contracted-out scheme, the F4Inland Revenue may, for the event of, or in connection with, its ceasing to be such a scheme, approve any arrangements made or to be made in relation to the scheme, or for its purposes, for the preservation or transfer—

(F5a)

of earners’ accrued rights to guaranteed minimum pensions under the scheme or accrued rights to pensions under the scheme attributable to their service on or after the principal appointed day, and

(b)

of the liability for the payment of such pensions in respect of persons who have then become entitled to receive them.

(F61A)

The power of the Inland Revenue to approve arrangements under this section—

(a)

includes power to approve arrangements subject to conditions, and

(b)

may be exercised either generally or in relation to a particular scheme.

(1B)

Arrangements may not be approved under this section unless any prescribed conditions are met

(2)

If the scheme ceases to be a F7salary related contracted-out scheme (whether by being wound up or otherwise) and the Inland Revenue either—

(a)

F8have withdrawn F9their approval of previously approved arrangements relating to it; or

(b)

have declined to approve arrangements relating to it,

the Inland Revenue may issue a certificate to that effect.

(3)

A certificate issued under subsection (2)(a) or (b) shall be cancelled by the Inland Revenue if F10they subsequently approve the arrangements.

(4)

Regulations may provide that where the Inland Revenue F11 have approved arrangements under subsection (1) in respect of an occupational pension scheme F12... any provision of this Part (other than sections 14, 15, F1327 and 29 and F1439 and 41) or Chapter III of Part IV or Chapter II of Part V shall have effect subject to such modifications as may be specified in the regulations.

(5)

Any such regulations shall have effect in relation to arrangements whenever approved, unless they provide that they are only to have effect in relation to arrangements approved after they come into operation.

(6)

It is hereby declared that an approval of arrangements relating to an occupational pension scheme F15to which subsection (1) applies may be withdrawn at any time, notwithstanding that the scheme has been wound up.

F16(7)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1

S. 46 repealed (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 33 (with savings until 6.4.2019 by S.R. 2016/106, arts. 1(1)(2), 2(5))

F2

Words in s. 46(1) omitted (6.4.2012) by virtue of The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 4(10)(a)(i)

F3

Words in s. 46(1) substituted (6.4.2012) by The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 4(10)(a)(ii)

F4

Words in s. 46(1)(1A)(2)-(4) substituted (24.3.1999 for certain purposes and otherwise 1.4.1999) by S.I. 1999/671, arts. 1(2)(b), 3(1), Sch. 1 para. 60(2); S.R. 1999/149, art. 2(c), Sch. 2

F5

S. 46(1)(a)(b) substituted (6.4.2012) by The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 4(10)(a)(iii)

F6

S. 46(1A)(1B) inserted (6.4.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 147, Sch. 3 para. 37(b); S.R. 1996/91, art. 2(d), Sch. Pt. IV; S.R. 1997/192 art. 2(b)

F7

Words in s. 46(2) substituted (6.4.2012) by The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 4(10)(b)

F8

Words in s. 46(2)(a)(b) substituted (24.3.1999 for certain purposes and otherwise 1.4.1999) by S.I. 1999/671, arts. 1(2)(b), 3(1), Sch. 1 para. 60(3); S.R. 1999/149, art. 2(c), Sch. 2

F9

Word in s. 46(2)(a) substituted (24.3.1999 for certain purposes and otherwise 1.4.1999) by S.I. 1999/671, arts. 1(2)(b), 3(1), Sch. 1 para. 60(3); S.R. 1999/149, art. 2(c), Sch. 2

F10

Words in s. 46(3) substituted (24.3.1999 for certain purposes and otherwise 1.4.1999) by S.I. 1999/671, arts. 1(2)(b), 3(1), Sch. 1 para. 60(4); S.R. 1999/149, art. 2(c), Sch. 2

F11

Word in s. 46(4) substituted (24.3.1999 for certain purposes and otherwise 1.4.1999) by S.I. 1999/671, arts. 1(2)(b), 3(1), Sch. 1 para. 60(5); S.R. 1999/149, art. 2(c), Sch. 2

F12

Words in s. 46(4) omitted (6.4.2012) by virtue of The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 4(10)(c)(i)

F13

Words in s. 46(4) substituted (6.4.2012) by The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 4(10)(c)(ii)

F14

Words in s. 46(4) substituted (6.4.2012) by The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 4(10)(c)(iii)

F15

Words in s. 46(6) substituted (6.4.2012) by The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 4(10)(d)

F16

S. 46(7) repealed (6.4.1997) by S.I. 1995/3213 (N.I. 22), arts. 147, 168, Sch. 3 para. 37(c), Sch. 5 Pt. III; S.R. 1997/192, art. 2(b)

Modifications

C1

S. 46 modified (28.3.1997) by S.R. 1997/192, art. 4(1) (with art. 9)

C2

S. 46 modified by S.R. 1996/493, reg. 77(3) (as substituted (6.4.2009) by The Pensions (2008 Acts) (Consequential Provisions) Order (Northern Ireland) 2009 (S.R. 2009/113), arts. 1, 3(7))

Notes on Part III

Textual amendments

F1

Words in Pt. 3 heading omitted (6.4.2016) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(b)

F2

Words in Pt. 3 heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(a)

Modifications

C1

Pt. 3: power to modify conferred (1.6.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 146(1); S.R. 1996/91, art. 2(f); S.R. 1997/192, art. 2

Pt. 3: power to transfer functions conferred (1.4.1999) by 1999 c. 2, s. 23(1)(2)(6); S.I. 1999/527, art. 2(b), Sch. 2

C2

Pt. 3 modified (24.7.2014) by The Pensions (2012 Act) (Transitional, Consequential and Supplementary Provisions) Regulations (Northern Ireland) 2014 (S.R. 2014/204), regs. 1(1), 6(2)