Regulation 1 Citation, commencement and interpretation

These Regulations may be cited as the Protected Rights (Transfer Payment) Regulations (Northern Ireland) 1996 and shall come into operation on 6th April 1997.

In these Regulations—

• “the 1993 Act” means the Pension Schemes (Northern Ireland) Act 1993;

• “the 1987 Regulations” means the Protected Rights (Transfer Payment) Regulations (Northern Ireland) 1987^f1;

• “appropriate personal pension scheme” shall be construed in accordance with section 3^f2;

• “money purchase contracted-out scheme” means an occupational pension scheme which is contracted-out by virtue of satisfying section 5(3)^f3;

• “overseas scheme” means an occupational pension scheme which is administered wholly or primarily outside the United Kingdom but does not include one which is contracted-out within the meaning of section 3(3) nor one in respect of which section 49^f4 applies;

• “post-97 protected rights” means—

  1. (a)

     protected rights which are attributable to payments or contributions in respect of employment carried on on or after the principal appointed day, and

  2. (b)

     protected rights which derive from section 5(2B) rights which have been the subject of a transfer payment;

• “pre-97 protected rights” means—

  1. (a)

     protected rights which are attributable to payments or contributions in respect of employment carried on before the principal appointed day, and

  2. (b)

     protected rights which derive from guaranteed minimum pensions which have been the subject of a transfer payment;

• “the principal appointed day” has the meaning given to that expression by section 3(2B)^f5;

• “protected rights” has the meaning given to that expression by section 6^f6;

• “salary related contracted-out scheme” means an occupational pension scheme which is contracted-out by virtue of satisfying section 5(2)^f7;

• “scheme” means an occupational pension scheme or a personal pension scheme;

• “section 5(2B) rights” are—

  1. (a)

     rights (other than rights attributable to voluntary contributions within the meaning of section 107) which are attributable to an earner’s service on or after the principal appointed day in employment which is contracted-out in accordance with section 5(2B), and

  2. (b)

     where a transfer payment has been made to a salary related contracted-out scheme in respect of rights mentioned in paragraph (a) or of post-97 protected rights, any rights arising under that scheme as a consequence of that payment, or, where only part of it was made in respect of such rights, of that part of it;

• “trustees”, in relation to a scheme which is not set up or established under a trust, means the managers of the scheme.

The Interpretation Act (Northern Ireland) 1954^f8 shall apply to these Regulations as it applies to a Measure of the Assembly.

In these Regulations any reference to a numbered section is a reference to the section of the 1993 Act bearing that number.