Paragraph 33 I1

In section 25 (conditions as to investments, etc.)—

(a)

subsections (1) and (3) are repealed, and

I2(b)

for subsection (2) there is substituted—

“(2)
A salary related contracted-out scheme must, in relation to any earner’s service before the principal appointed day, comply with any requirements prescribed for the purpose of securing that—
(a)
the Secretary of State is kept informed about any matters affecting the security of the minimum pensions guaranteed under the scheme, and
(b)
the resources of the scheme are brought to and are maintained at a level satisfactory to the Secretary of State”.

Annotations

Commencement

I1: Sch. 5 para. 33 in force at 6.4.1997 in so far as not already in force by S.I. 1997/664, art. 2(3), Sch. Pt. 3
I2: Sch. 5 para. 33(b) in force at 6.4.1996 for specified purposes by S.I. 1996/778, art. 2(5)(a), Sch. Pt. V

Notes on Schedule 5

Extent

E1: The amendment by this Act of an enactment which extends to Northern Ireland extends also to Northern Ireland see s.178(1)(2)(3).