{
  "url": "https://openlegislation.uk/pensions-act-2011-transitional-consequential-and-supplementary-provisions-regulations-2014/regulation-37",
  "json_url": "https://openlegislation.uk/pensions-act-2011-transitional-consequential-and-supplementary-provisions-regulations-2014/regulation-37.json",
  "legislation": "uksi/2014/1711",
  "legislation_title": "The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014",
  "legislation_url": "https://openlegislation.uk/pensions-act-2011-transitional-consequential-and-supplementary-provisions-regulations-2014",
  "path": "regulation/37",
  "kind": "regulation",
  "number": "37",
  "heading": "Failure to comply with the requirements of section 37 or 76 of the 1995 Act: periods before the appointed day",
  "text": "(1) Where the conditions specified in paragraph (2) are met neither—\n(a) section 37 of the 1995 Act (payment of surplus to employer); nor\n(b) section 76 of that Act (excess assets on winding up),\n(as the case may be) apply in respect of a payment from scheme funds made to the employer in relation to the scheme.\n(2) The conditions specified in this paragraph are that—\n(a) the trustees of a trust scheme have exercised a power under the scheme rules to make a payment to the employer out of funds held for the purposes of the scheme and that payment was made to the employer before the appointed day;\n(b) at the time that the payment was made to the employer the scheme included—\n(i) cash balance benefits; or\n(ii) pensions derived from money purchase or cash balance benefits;\n(c) no benefits other than those specified in sub-paragraph (b), money purchase benefits and death benefits secured by insurance policies or annuity contracts; and\n(d) the trustees of the scheme treated the scheme as if it were a money purchase scheme and for that reason did not comply with the requirements—\n(i) for schemes not in winding up, of section 37 of the 1995 Act; or\n(ii) for schemes in winding up, of section 76 of that Act,\nbefore exercising the power to make a payment to the employer.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 37 comes into force in accordance with reg. 1(1)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 37 was substituted by section 250 of the 2004 Act and was amended by section 130 of the 2008 Act."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Section 76 was amended by sections 319(1) and Schedule 12 to the 2004 Act and by S.I. 2006/745."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/1711/regulation/37",
    "retrieved_at": "2026-10-29T00:11:18.993771+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}