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Regulation 7 Funded pension schemes

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The circumstances in which the trustees or managers of a scheme, to which paragraph 1 of Schedule 5 to the 1999 Act applies, may discharge their liability in respect of a pension credit in accordance with sub-paragraph (2)(b) of that paragraph are where—

(a)

the person entitled to the credit has failed to provide his consent in accordance with paragraph 1(2)(a) and (4) of that Schedule; and

(b)

the circumstances set out in paragraph 1(3) of that Schedule do not apply.

(2)

The circumstances in which the trustees or managers of a scheme, to which paragraph 1 of Schedule 5 to the 1999 Act applies, may discharge their liability in respect of a pension credit in accordance with sub-paragraph (3)(c) of that paragraph are where—

(a)

the person entitled to the credit has failed to provide his consent in accordance with F1paragraph 1(3)(c) of that Schedule; and

F2(b)

either—

(i)

the person entitled to the pension credit has failed to provide his consent in accordance with paragraph 1(2)(a) and (4) of that Schedule; or

(ii)

the trustees or managers of the scheme have not discharged their liability in accordance with paragraph (1) above.

Annotations

Textual amendments

F1

Words in reg. 7(2)(a) substituted (1.12.2000) by The Pension Sharing (Consequential and Miscellaneous Amendments) Regulations 2000 (S.I. 2000/2691), regs. 1, 11(4)(a)

F2

Reg. 7(2)(b) substituted (1.12.2000) by The Pension Sharing (Consequential and Miscellaneous Amendments) Regulations 2000 (S.I. 2000/2691), regs. 1, 11(4)(b)