Regulation 2 Modification of Part 2 of the Act
United Kingdom
In relation to a partially guaranteed scheme, Part 2 of the Act (the Board of the Pension Protection Fund) applies with the modifications prescribed in F2regulations 3 to 11.
Paragraph (1) shall not apply in relation to a partially guaranteed scheme where—
the scheme was in existence immediately prior to IP completion day; and
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.
Regulations 2A (schemes to which paragraph (1) of regulation 2 does not apply) and 11 (general interpretation) shall apply where paragraph (1) does not apply to a partially guaranteed scheme by virtue of paragraph (2).
Annotations
Textual amendments
- F1
Reg. 2(1): reg. 2 renumbered as reg. 2(1) (8.3.2010) by The Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/196), regs. 1, 2(3)(a)
- F2
Words in reg. 2(1) substituted (8.3.2010) by The Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/196), regs. 1, 2(3)(b)
- F3
Reg. 2(2) substituted (31.12.2020) by The State Aid (Revocations and Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1470), reg. 1(2), Sch. 2 para. 7(2) (with Sch. 3)
- F4
Reg. 2(3) inserted (8.3.2010) by The Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/196), regs. 1, 2(3)(c)