The Pensions Act 1995 (Commencement No. 4) Order 1996
S.I. 1996/1412 · Made 31 May 1996
PENSIONS
Made 31st May 1996
The Secretary of State for Social Security, in exercise of the power conferred on him by section 180(1) of the Pensions Act 1995f1 and of all other powers enabling him in that behalf, hereby makes the following Order:
Annotations to the whole text
Footnotes
- f1
Contents
- 1Citation and interpretation
- 2Appointed days
- Signature
- Schedule
- IPROVISIONS OF THE ACT COMING INTO FORCE ON 1ST AUGUST 1996
- IIPROVISIONS OF THE ACT COMING INTO FORCE ON 1ST JUNE 1996 FOR THE PURPOSE ONLY OF AUTHORISING THE MAKING OF REGULATIONS
- Explanatory note
1Citation and interpretation
This Order may be cited as the Pensions Act 1995 (Commencement No. 4) Order 1996.
In this Order, references to “the Act” are references to the Pensions Act 1995 and, except where the context otherwise requires, references to sections and Schedules are references to sections of, and Schedules to, the Act.
2Appointed days
The day appointed for the coming into force of the provisions specified in Part I of the Schedule to this Order, is 1st August 1996.
The day appointed for the coming into force of the provisions specified in Part II of the Schedule to this Order, for the purpose only of authorising the making of regulations, is 1st June 1996.
The day appointed for the coming into force of section 78(6) of the Act:—
for the purpose only of authorising the making of regulations, is 1st June 1996; and
for all other purposes, is 1st August 1996.
The day appointed for the coming into force of Schedule 1 paragraph 13 of the Act and section 1(5) in so far as it relates to that paragraph, is 1st June 1996.
Signature
Signed by authority of the Secretary of State for Social Security.
Paul Evans
Parliamentary Under-Secretary of State,
Department of Social Security
31st May 1996
IPROVISIONS OF THE ACT COMING INTO FORCE ON 1ST AUGUST 1996
| Provisions of the Act | Subject matter |
|---|---|
| Section 78(1) to (3), (5) and (7) | establishment of the Pensions Compensation Board |
| section 85(3)(a) | investment of surplus funds held by the Pensions Compensation Board |
| Schedule 2 paragraphs 1 to 11, 13, 14(1) to (4), 16, 17, 18(1)(a) and (b), 19 and 20 and section 78(8) in so far as it relates to those paragraphs | Pensions Compensation Board |
IIPROVISIONS OF THE ACT COMING INTO FORCE ON 1ST JUNE 1996 FOR THE PURPOSE ONLY OF AUTHORISING THE MAKING OF REGULATIONS
| Provisions of the Act | Subject matter |
|---|---|
| section 10(1) | period for paying penalties |
| section 23 | requirement for independent trustee |
| section 81(1)(c), (2) and (3)(f)(i) | cases where compensation provisions apply |
| section 82(1) | applications for payment |
| section 83(2) and (3)(a) | amount of compensation |
| section 84(1)(b), (2) and (3) | payments made in anticipation |
| section 86 | modifications of compensation provisions |
| section 96(2) and (5) | review of decisions |
| section 155 in so far as not already in force for the purpose of making regulations | penalties for breach of regulations under the Pension Schemes Act 1993 |
| section 157(2) | jurisdiction of the Pensions Ombudsman |
| section 158 | payment of costs and expenses by the Pensions Ombudsman |
| section 160 | interest on late payment of benefit |
| Schedule 5, paragraph 36 and section 151 in so far as it relates to that paragraph | investment and resources of schemes |
Explanatory note
(This note is not part of the Order)
This Order provides for the coming into force of further provisions of the Pensions Act 1995 on the following dates—
-
on 1st August 1996, for provisions relating to the establishment of the Pensions Compensation Board;
-
on 1st June 1996, for the purpose only of authorising the making of certain regulations, in particular, under provisions relating to time limits for paying civil penalties, the requirement for an independent trustee, the Pensions Compensation Board, the proceedings of the Occupational Pensions Regulatory Authority and the review of its decisions and the jurisdiction of the Pensions Ombudsman and his powers as regards costs, expenses and interest.