Section 12A Sections 11 and 12: restricted schemesF1

Section 11(1) (valuations) does not require scheme regulations to provide for actuarial valuations to be made of a scheme to which this section applies.

Section 12(1) (employer cost cap) does not apply to a scheme to which this section applies.

This section applies to a scheme under section 1 which—

For the purposes of this section a scheme under section 1 is a “restricted scheme” at any time if any enactment restricts the provision of benefits under the scheme to or in respect of a person in relation to the person’s service after that time.

Treasury regulations under this section may include consequential or supplementary provision.

Treasury regulations under this section are subject to the negative Commons procedure.