Section 97L Variation of the amount required to be used.F1

(1)

Regulations may make provision for the amount required to be used under section 97F(1) to be increased or reduced in prescribed circumstances.

(2)

Without prejudice to the generality of subsection (1), the circumstances which may be prescribed include—

(a)

failure by the trustees or managers of a qualifying scheme to comply with a notice under section 97F(1) within 6 months of the date by reference to which the amount of the cash equivalent falls to be determined, and

(b)

the state of funding of a qualifying scheme.

(3)

Regulations under subsection (1) may have the effect of extinguishing an obligation under section 97F(1).

Annotations

Textual amendments

F1: Pt. 4A Chapters 1, 2 (ss. 97A-97Q) inserted (1.12.1999 for certain purposes and otherwise 1.12.2000) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 34; S.R. 2000/133, art. 2(3), Sch. Pt. IV

Notes on Chapter II

Modifications

C1: Pt. 4A Ch. 2 modified (1.4.2009) by Local Government Pension Scheme (Administration) Regulations (Northern Ireland) 2009 (S.R. 2009/33), regs. 1, 94