Article 11 Winding upI1

Articles 73 and 74 (liabilities, etc.) do not apply to any scheme which begins to be wound up before the principal appointed day; and for the purposes of this paragraph the time when a scheme begins to be wound up shall be determined in accordance with regulation 2 of the Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 1996^f1 (commencement of winding up).

Paragraph 24 of Schedule 3 to the Order shall be modified so as to have effect as if at the end there were added “and for the purposes of this paragraph the time when a scheme begins to be wound up shall be determined in accordance with regulation 2 of the Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 1996”.

Section 140 (deficiencies in the assets of a scheme on winding up) shall remain in operation as regards schemes that began to wind up before 19th December 1996 and in respect of debts which arose at any applicable time before the principal appointed day.