Article 143 Closed schemes: further assessment periods

(1)

Paragraph (3) applies where—

(a)

an application is made under paragraph (1) of Article 141 in relation to a closed scheme, or

(b)

the trustees or managers of the scheme receive a notice under paragraph (4) of that Article.

(2)

For the purposes of paragraph (1) an application under paragraph (1) of Article 141, or notification under paragraph (4) of that Article, is to be disregarded if it is made or given during an assessment period (see Article 116 and this Article) in relation to the scheme which began before the application was made or notification was given.

(3)

An assessment period—

(a)

begins when the application is made or the notice is received by the trustees or managers of the scheme, and

(b)

ends when—

(i)

the trustees or managers receive a transfer notice under Article 144, or

(ii F1)

the conditions in Article 138(5) (closed scheme with sufficient assets to meet protected liabilities etc.) are satisfied in relation to the scheme,

whichever first occurs.

(4)

In this Article “closed scheme” has the same meaning as in Article 139.

Annotations

Textual amendments

F1: mod. by SR 2005/55

Notes on Part III

Modifications

C1: Pt. III (arts. 101-199) applied by S.R. 2005/55, reg. 2A (as inserted (8.3.2010) by Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/32), reg. 2(4))
C2: Pt. III amendment to earlier affecting provision S.R. 2005/91 (23.7.2012) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2012 (S.R. 2012/270), regs. 1, 2
C3: Pt. III modified by S.R. 2005/55 (as amended) (30.4.2013) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2013 (S.R. 2013/95), regs. 1(2), 3

Notes on Chapter 3

Modifications

C1: Pt. III amendment to earlier affecting provision S.R. 2005/91 (23.7.2012) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2012 (S.R. 2012/270), regs. 1, 2