Regulation 1 Citation, commencement and interpretationI1

These Regulations may be cited as the Pensions Regulator (Notifiable Events) Regulations 2005, and shall come into force on 6th April 2005.

In these Regulations—

• “the Act” means the Pensions Act 2004;

• “business” includes trade or profession;

• “control” has the meaning given to it in section 435(10) of the Insolvency Act 1986^f1 (meaning of “associate” – meaning of “control”), and “controlling company” is to be construed accordingly;

• “debt” includes a contingent debt;

• “director” has the meaning given to it in section 741(1) (“director” and “shadow director”) of the Companies Act 1985^f2;

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• “scheme assets” means the value of the assets according to the most recent actuarial valuation carried out under section 224 of the Act (actuarial valuations and reports), or if no such valuation has been carried out, the most recent valuation carried out under section 56 of the Pensions Act 1995 (minimum funding requirement) and regulations made thereunder.