Regulation 1 Citation, commencement and interpretation

These Regulations may be cited as the Pensions Regulator (Contribution Notices) (Sum Specified Following Transfer) Regulations (Northern Ireland) 2010 and shall come into operation on 29th July 2010.

In these Regulations—

• “baseline sum” means the sum which the Regulator estimates to be the amount of the liabilities of the initial scheme, were those liabilities to be determined, calculated and verified in accordance with Article 75(5)^f1 of the 1995 Order (deficiencies in the assets);

• “earner” is to be construed in accordance with sections 3^f2 (“earnings” and “earner”), 4^f3 (payments treated as remuneration and earnings) and 112^f4 (certain sums to be earnings) of the Contributions and Benefits Act;

• “the relevant time” has the meaning given by Article 35(4)^f5 (the sum specified in an Article 34 contribution notice);

• “rights acquired” means rights allowed to an earner under the rules of a work-based pension scheme, which is not an occupational pension scheme, by reference to a transfer to the scheme of, or a transfer payment to the trustees or managers of the scheme in respect of, any of the earner’s rights (including transfer credits allowed) under an occupational pension scheme;

• “transfer credits” has the meaning given by section 176(1)^f6 of the Pension Schemes Act;

• “work-based pension scheme” has the meaning given by Article 4(3).

In these Regulations any reference to a numbered Article is a reference to the Article of the Pensions (Northern Ireland) Order 2005 bearing that number.