The Pensions Act 2004 (Commencement No. 3, Transitional Provisions and Amendment) Order 2005

This Order may be cited as the Pensions Act 2004 (Commencement No.3, Transitional Provisions and Amendment) Order 2005.

In this Order—

• “the Act” means the Pensions Act 2004;

• “the 1993 Act” means the Pension Schemes Act 1993 M1;

• “the 1995 Act” means the Pensions Act 1995 M2; and

• “the Authority” means the Occupational Pensions Regulatory Authority established by section 1 of the 1995 Act.

The day appointed for the coming into force of section 10 of the Act (functions exercisable by the Determinations Panel) in so far as not already brought into force, and of Schedule 2 to the Act (the reserved regulatory functions), is 6th April 2005 M1.

The day appointed for the coming into force of section 272 of the Act (debt due from the employer in the case of multi-employer schemes), in so far as not already brought into force, is 15th March 2005.

The day appointed for the coming into force of section 300(1) of the Act (dissolution of the Authority) is 6th April 2005 (“the appointed day”).

The day appointed for the coming into force of sections 278 and 280 for the purpose only of conferring power to make regulations is 15th March 2005.

The day appointed for the coming into force of paragraph 21 of Schedule 1 to the Act (Pensions Regulator – delegation) is 15th March 2005 for the purpose only of conferring power to make regulations, and 6th April 2005 for all other purposes.

The day appointed for the coming into force of Schedule 13 to the Act in so far as it relates to the repeal of paragraph 1(2)(a) of Schedule 1 to the Welfare Reform and Pensions Act 1999 M2, and section 320 of the Act in so far as it relates to that provision, is 1st April 2005.

The day appointed for the coming into force of the provisions set out in Schedule 1 to this Order is 6th April 2005.

Subject to paragraph (2), all property, rights and liabilities to which the Authority is entitled or subject immediately before the appointed day shall, on that day, become the property, rights and liabilities of the Regulator.

All property held by the Authority in relation to the carrying out of its function (as Registrar M1) under regulation 6(1)(a) of the Register of Occupational and Personal Pension Schemes Regulations 1997 M2 (availability of information held on the register) immediately before the appointed day shall, on that day, become the property of the Secretary of State.

In this article, unless the context otherwise requires, “function of the Authority” means a function of the Authority which is transferred to the Regulator under subsection (1) of section 7 of the Act (transfer of OPRA's functions to the Regulator) on 6th April 2005 (“the appointed day”) M1.

Anything done (or having effect as if done) by or in relation to the Authority before the appointed day pursuant to, or for the purposes of, any function of the Authority shall, so far as is required for continuing its effect, have effect as if done by or in relation to the Regulator pursuant to, or for the purposes of, that function.

Subject to paragraph (5), anything which, immediately before the appointed day, is in the process of being done by or in relation to the Authority pursuant to, or for the purposes of, any function of the Authority shall be continued by or in relation to the Regulator pursuant to, or for the purposes of, that function.

Any reference to the Authority in any document constituting or relating to anything to which paragraph (2) or (3) applies in relation to any function of the Authority shall, so far as is required for giving effect to those provisions, be construed as a reference to the Regulator.

Where any function of the Authority described in paragraph (6) would, but for its dissolution, fall to be exercised on or after the appointed day, or fell to be exercised before the appointed day but has not been exercised, that function shall be exercised by the Regulator as if it were a function of the Regulator conferred on it under or by virtue of the Act.

The functions of the Authority to which paragraph (5) refers are—

Where any function under regulation 6(1)(a) of the Register of Occupational and Personal Pension Schemes Regulations 1997 fell to be exercised by the Authority, as Registrar, before the appointed day but has not been exercised, or would have fallen to be exercised by the Authority on or after the appointed day, that function shall be exercised by the Secretary of State (or by a person appointed by him).

Schedule 2, which makes further transitional provision, has effect.

Notwithstanding the repeals of section 74 of the 1995 Act (discharge of liabilities by insurance, etc. ) mentioned in Schedule 1, that section shall continue to have effect as it applied immediately before 6th April 2005 to any scheme which—

In paragraph (1), the reference to a scheme includes a reference to any section of a scheme to which section 74 of the 1995 Act applies as if it were a scheme by virtue of regulation 12 of those Regulations (winding up of sectionalised schemes etc. ).

for the words “any determination of theirs” in subsection (2), there were substituted the words “ any determination of the Occupational Pensions Regulatory Authority ”; and

for the words “any other such determination of theirs” in paragraph (a) of subsection (3), there were substituted the words “ any other such determination of the Occupational Pensions Regulatory Authority ”.

at the beginning of sub-paragraph (1), for the word “It” there were substituted the words “ Subject to paragraph (1A), it ”; and

after sub-paragraph (1), there were inserted the following sub-paragraph—

“(1A)

The statement of accounts which the Authority is required to prepare in respect of the financial year commencing 1st April 2004 shall also include its accounts for the period commencing on 1st April 2005 and ending on 5th April 2005.”.