Paragraph 7 Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005I1

United Kingdom

(1)

The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005^f1 are amended as follows.

(2)

For regulation 2(2), substitute—

“(2)
Paragraph (1) shall not apply in relation to a partially guaranteed scheme where—
(a)
the scheme was in existence immediately prior to IP completion day; and
(b)
the application of paragraph (1) immediately prior to IP completion day would have given rise to State aid that was incompatible with the internal market within the meaning of Article 107 of the Treaty as it had effect in the United Kingdom immediately prior to IP completion day.”.

Annotations

Commencement

I1: Sch. 2 para. 7 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Footnotes

f1: S.I. 2005/277, amended by S.I. 2010/196; there are other amending instruments but none is relevant.