The Occupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2019

The Pension Schemes Act 1993^f1 is amended as follows.

In section 1 (categories of pension schemes)^f2, in subsection (1), in the definition of “occupational pension scheme” omit paragraph (b) and the “and” before it.

In section 19 (discharge of liability where guaranteed minimum pensions secured by insurance policies or annuity contracts)^f3, in subsection (4)(a)(i) omit “or any other EEA State”.

In section 149 (procedure on an investigation)^f4, in subsection (6)—

In section 158A (other disclosures by the Secretary of State)^f5, in the table in subsection (1), in the entry beginning “A recognised investment exchange”—

In section 165 (application of certain provisions to cases with foreign element)^f6, in subsection (7), for “territory of the member States” substitute “United Kingdom”.

In section 180A (insurer and long-term insurance business)^f7, in subsection (1) omit paragraph (b) and the “or” before it.

The Pensions Act 1995^f1 is amended as follows.

In section 49 (other responsibilities of trustees, employers, etc), in subsection (8A)—

The Welfare Reform and Pensions Act 1999^f1 is amended as follows.

In Schedule 5 (pension credits: mode of discharge), in paragraph 6(2)(a), omit “or any other EEA state”.

The Pensions Act 2004^f1 is amended as follows.

In section 73 (inspection of premises), in subsection (2)(a), in the list of provisions—

In section 87 (other permitted disclosures), in subsection (2)(h)^f2, for “an EU obligation” substitute “retained EU law”.

In section 115 (borrowing), in subsection (3)^f3, in the definition of “deposit-taker” omit paragraph (b) and the “or” before it.

In section 201 (other permitted disclosures), in subsection (2)(g)^f4, for “an EU obligation” substitute “retained EU law”.

In section 249A (requirement for internal controls)^f5, omit subsection (4).

In section 253 (non-European scheme to be trust with UK-resident trustee)^f6—

In section 254 (representative of non-European scheme to be treated as trustee)^f7—

Omit Part 7 (cross-border activities within European Union).

In section 307(2) (modification of this Act in relation to certain categories of schemes) omit paragraph (f) and the “and” before it.

In Schedule 3 (restricted information held by the Regulator) and Schedule 8 (restricted information held by the Board)^f8, in the entry in the table relating to a recognised investment exchange, in the first column omit “, EEA CSD” and “, EEA central counterparty”.

The Pensions Act 2008^f1 is amended as follows.

In section 18 (occupational pension schemes)—

In section 99 (interpretation of Part 1), omit the definition of the “IORP Directive”.

The Pension Schemes Act 2015^f1 is amended as follows.

In section 42 (regulatory own fund schemes exempt from indexation), in subsection (3), for inserted subsections (9) and (10) substitute—

“(9)

In subsection (1)(a)(ii) “regulatory own fund scheme” means a scheme where the scheme and not any employer in relation to that scheme—

(a)

underwrites any liability to cover against biometric risk;

(b)

guarantees an investment performance; or

(c)

guarantees a level of benefits.

(10)

In subsection (9)—

• “biometric risk” means liability risks linked to death, disability and longevity;

• “employer” has the meaning given by section 318(1) of the Pensions Act 2004.”.

The Occupational Pension Schemes (Contracting-out) Regulations 1996^f1 are amended as follows.

In regulation 1(2), in the definition of “overseas scheme”, for “EEA states” substitute “United Kingdom”.

The Contracting-out (Transfer and Transfer Payment) Regulations 1996^f1 are amended as follows.

In regulation 1(2), in the definition of “overseas scheme”—

The Occupational Pension Schemes (Scheme Administration) Regulations 1996^f1 are amended as follows.

In regulation 1(2), in the definition of “qualifying insurance policy” omit paragraph (b) and the “or” before it.

In regulation 11—

In regulation 15, omit paragraph (2)(a)(ii) and the “or” before it.

The Occupational Pension Schemes (Winding Up) Regulations 1996^f1 are amended as follows.

In regulation 10, omit paragraph (1)(d).

The Occupational Pension Schemes (Discharge of Liability) Regulations 1997^f1 are amended as follows.

In regulation 2—

The Pension Sharing (Implementation and Discharge of Liability) Regulations 2000^f1 are amended as follows.

In regulation 11—

The Pension Sharing (Pension Credit Benefit) Regulations 2000^f1 are amended as follows.

In regulation 5—

The Stakeholder Pension Schemes Regulations 2000^f1 are amended as follows.

In regulation 1(3), in the definition of “insurer” omit paragraph (b) and the “or” before it.

The Register of Occupational and Personal Pension Schemes Regulations 2005^f1 are amended as follows.

In regulation 1(4), omit the definition of “scheme undertaking cross-border activities”.

In regulation 2(1), omit sub-paragraph (c) and the “or” before it.

In regulation 3(1), omit sub-paragraph (j) and the “and” before it.

The Pension Protection Fund (Appointment of Ordinary Members) Regulations 2005^f1 are amended as follows.

In Schedule 1, in paragraph 14(c) omit “members of the European Parliament,”.

The Occupational and Personal Pension Schemes (General Levy) Regulations 2005^f1 are amended as follows.

In regulation 2(1), omit the definition of “cross-border section 615 scheme”.

In regulation 3(1), omit “, other than such a scheme which is a cross-border section 615 scheme,”.

The Occupational Pension Schemes (Employer Debt) Regulations 2005^f1 are amended as follows.

In regulation 4(1), omit sub-paragraph (g)(ii) and the “and” before it.

The Occupational Pension Schemes (Winding up etc.) Regulations 2005^f1 are amended as follows.

In regulation 3(1), omit sub-paragraph (h)(ii) and the “and” before it.

The Pension Protection Fund (PPF Ombudsman) Order 2005^f1 is amended as follows.

In Article 7(2)(j), omit “, an EEA central counterparty” and “, an EEA CSD”.

The Pensions Regulator (Contribution Notices and Restoration Orders) Regulations 2005^f1 are amended as follows.

In regulation 3(1), omit sub-paragraph (i)(ii) and the “and” before it.

The Financial Assistance Scheme Regulations 2005^f1 are amended as follows.

In regulation 2(3), omit sub-paragraph (b) and the “or” before it.

The Financial Assistance Scheme (Provision of Information and Administration of Payments) Regulations 2005^f1 are amended as follows.

In regulation 2(2), omit sub-paragraph (b) and the “or” before it.

The Occupational Pension Schemes (Trust and Retirement Benefits Exemption) Regulations 2005^f1 are amended as follows.

In regulation 1(2), omit the definition of “scheme undertaking cross-border activities”.

Omit regulation 1A.

The Pension Schemes (Categories) Regulations 2005^f1 are amended as follows.

In regulation 2, omit paragraph (2)(b) but not the final “and”.

The Financial Assistance Scheme (Appeals) Regulations 2005^f1 are amended as follows.

In regulation 28(3)(k), omit “, EEA central counterparty”, and “, EEA CSD”.

The Occupational Pension Schemes (Scheme Funding) Regulations 2005^f1 are amended as follows.

For regulation 17(1)(d), substitute—

“(d)

a scheme which is treated as such by virtue of paragraph 4 or 5 of Schedule 2 to these Regulations and applies to members in employment outside the United Kingdom;”.

In Schedule 2—

The Occupational Pension Schemes (Investment) Regulations 2005^f1 are amended as follows.

In regulation 1(2)—

In regulation 4(11)—

In regulation 15A, omit paragraph (2)(b) but not the final “or”.

Omit regulation 17.

The Occupational Pension Schemes (Regulatory Own Funds) Regulations 2005^f1 are amended as follows.

In regulation 10, omit paragraphs (3) and (8).

In regulation 15—

The Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006^f1 are amended as follows.

In regulation 4(1), in sub-paragraph (e), for “EEA states” substitute “United Kingdom”.

The Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 2006^f1 are amended as follows.

In regulation 1(2), in the definition of “insurer” omit paragraph (b) and the “or” before it.

The Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010^f1 are amended as follows.

In regulation 32E, in paragraph (1), omit the words “or which is an occupational pension scheme within section 18(b) of the Act,”.

Omit regulation 32J.

In regulation 35—

In regulation 39, omit paragraph (7)(a).

In regulation 44, in the heading and the body of the regulation, for “EEA States” substitute “United Kingdom”.

In regulation 45—

In regulation 46, omit paragraph (b) and the “or” before it.

The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013^f1 are amended as follows.

In Schedule 1 (description of schemes), omit paragraph 1(2)(c) but not the final “or”.

The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014^f1 are amended as follows.

Omit Part 18 (cross-border schemes).

The Occupational Pension Schemes (Schemes that were Contracted-out) (No.2) Regulations 2015^f1 are amended as follows.

In regulation 6(2), for “EEA states” substitute “United Kingdom”.