Regulation 1 Citation, commencement and interpretation

These Regulations may be cited as the Occupational Pension Schemes (Winding Up) Regulations 1996 and shall come into force on 6th April 1997.

These Regulations do not apply to any scheme which has begun to be wound up before that date.

Unless the context otherwise requires—

In these Regulations—

• F2 ...

• “the MFR Regulations” means the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996;

• “pension credit” means a credit under section 29(1)(b) of the Welfare Reform and Pensions Act 1999;

• “transfer credits” has the meaning given by regulation 1(2) of the Pension Sharing (Pension Credit Benefit) Regulations 2000 (citation, commencement and interpretation).

References in these Regulations to FRC standards are to actuarial standards adopted or prepared, and from time to time revised, by the Financial Reporting Council Limited, which are relevant to the determination, calculation and verification of the amount or value of the liabilities of the scheme to which section 73 applies.