Paragraph 4

In the Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 1996 M1—

(a)

in regulation 1 (interpretation)—

(i)

in paragraph (3) omit the definition of “the Board for Actuarial Standards”M2;

(ii)

for paragraph (5) M3 substitute—

“(5)
In these Regulations references to FRC standards are to actuarial standards adopted or prepared, and from time to time revised, by the Financial Reporting Council Limited, which are relevant to the determination, calculation and verification of the amount or value of the liabilities of the scheme to which Article 73 applies.”;

(b)

in regulation 4(1)(d) M4 (calculation of the value or amount of scheme assets and liabilities) for “BAS standards” substitute “ FRC standards ”.

Annotations

Marginal citations

M1: S.R. 1996 No. 621; relevant amending Regulations are S.R. 2005 No. 171, S.R. 2007 No. 64 and S.R. 2010 No. 108
M2: The definition of “the Board for Actuarial Standards” was inserted by paragraph 6(a) of the Schedule to S.R. 2007 No. 64
M3: Paragraph (5) was substituted by regulation 3(2) of S.R. 2010 No. 108
M4: Regulation 4 was substituted by regulation 9 of S.R. 2005 No. 171 and paragraph (1)(d) was substituted by regulation 3(3) of S.R. 2010 No. 108