Regulation 3 Amendment of the Occupational Pension Schemes (Contracting-out) Regulations 1996
The Occupational Pension Schemes (Contracting-out) Regulations 1996 M1 shall have effect with the following amendments.
In regulation 1(2) (interpretation)–
in the definition of “overseas scheme" after “the United Kingdom" insert “; but does not include a scheme which is contracted-out in the Isle of Man by virtue of satisfying section 9(2) or (3) of the 1993 Act as it has effect in the Isle of Man M2";
in the definition of “section 9(2B) rights", in paragraph (b)(ii) delete “contracted-out".
In regulation 12 (special provision for holding companies and subsidiaries) in paragraph (2)(c) for “an employer in the scheme which is" substitute “a body corporate which is an employer in the scheme and is".
In regulation 48 (special provision for overseas schemes) in paragraph (7) for “any members who are resident in Great Britain" substitute “rights which have accrued as a result of contracted-out employment in the scheme in Great Britain".
Annotations
Marginal citations
- M1
S.I. 1996/1172; S.I. 1997/786 substituted the definition of “section 9(2B) rights" and amended regulation 48.
- M2
See Article 3 of, and the Schedule to, the Pension Schemes Act 1993 (Application) Order 1995, Statutory Document No. 531/95, which applies (with modifications) section 9 of the Pension Schemes Act 1993 (c.48) to the Isle of Man; andsee Article 3(1)(b) of, and Schedule 1 to, the Pensions Act 1995 (Application) Order 1997, Statutory Document No. 501/97, which applies to the Isle of Man the amendments to that section 9 in section 136 of the Pensions Act 1995 (c.26).