Article 68 Power of trustees to modify schemes by resolution

Northern Ireland

(1)

The trustees of a trust scheme may by resolution modify the scheme with a view to achieving any of the purposes specified in paragraph (2).

(2)

The purposes referred to in paragraph (1) are—

(a)

to extend the class of persons who may receive benefits under the scheme in respect of the death of a member of the scheme,

(b)

to enable the scheme to conform with such arrangements as are required byF1 Article 218 of the Pensions (Northern Ireland) Order 2005,

F2(c)

to enable the scheme to comply with such terms and conditions as may be imposed by the Board of the Pension Protection Fund in relation to any payment made by it under Article 168 or 169 of the Pensions (Northern Ireland) Order 2005,

(d)

to enable the scheme to conform with Article 37(2), 76(2), 89 or 90,

F3(da)

to enable the scheme to accommodate persons with pension credits or pension credit rights, and

(e)

prescribed purposes.

(3)

No modification may be made by virtue of paragraph (2)(a) without the consent of the employer.

(4)

Modifications made by virtue of paragraph (2)(b) may include in particular—

(a)

modification of any limit on the number of, or of any category of, trustees, or

(b)

provision for the transfer or vesting of property.

(5)

Regulations may provide that this Article does not apply to trust schemes falling within a prescribed class or description.

Annotations

Textual amendments

F1: Words in art. 68(2)(b) substituted (6.4.2006) by Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), arts. 1(2), 290(1), Sch. 10 para. 50(a); S.R. 2005/543, art. 2(6), Sch. Pt. 6
F2: 2005 NI 1
F3: 1999 NI 11

Notes on the whole Order

Textual amendments

F1: functions transf. by SR 1999/481
F2: functions transf. by 2005 NI 1