Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Levy) (Amendment) Regulations (Northern Ireland) 1999 and shall come into operation on 1st April 1999.

(2) The Interpretation Act (Northern Ireland) 1954(2) shall apply to these Regulations as it applies to a Measure of the Assembly.

Amendment of the Levy Regulations

2.—(1) The Occupational and Personal Pension Schemes (Levy) Regulations (Northern Ireland) 1997(3) shall be amended in accordance with paragraph (2).

(2) In Part I of the Schedule(4) (amount of general levy)—

(a)in sub-paragraph (a) for “£10.00” there shall be substituted “£11.00”;

(b)in sub-paragraph (b) for “£1.10” there shall be substituted “£1.20”;

(c)in sub-paragraph (c)(i) for “80p” there shall be substituted “85p”;

(d)in sub-paragraph (c)(ii) for “£110” there shall be substituted “£120”;

(e)in sub-paragraph (d)(i) for “65p” there shall be substituted “69p”;

(f)in sub-paragraph (d)(ii) for “£800” there shall be substituted “£850”;

(g)in sub-paragraph (e)(i) for “50p” there shall be substituted “53p”;

(h)in sub-paragraph (e)(ii) for “£3,250” there shall be substituted “£3,450”;

(i)in sub-paragraph (f)(i) for “35p” there shall be substituted “37p”;

(j)in sub-paragraph (f)(ii) for “£5,000” there shall be substituted “£5,300”.

Explanatory Note

(This note is not part of the Regulations.)

These Regulations further amend the Occupational and Personal Pension Schemes (Levy) Regulations (Northern Ireland) 1997 to specify increased rates in relation to the general levy payable in the case of certain occupational pension schemes.