Regulation 2 Amendment of the Pensions Regulator (Financial Support Directions etc.) Regulations 2005

The Pensions Regulator (Financial Support Directions etc.) Regulations 2005^f1 are amended in accordance with this regulation.

For regulation 5 (prescribed period), substitute—

“Prescribed period

5.

(1)

Subject to paragraph (2), the period prescribed for the purposes of section 43(9) (financial support directions – prescription of relevant time) is 24 months.

(2)

Until 6th April 2010 (the “Transition Date”), the period at paragraph (1) is reduced by a period equal to the number of complete months then remaining until the Transition Date.

(3)

For the purposes of paragraph (2), a complete month means a period from and including the sixth day of a month to and including the fifth day of the following month.”.