The Pension Protection Fund (Entry Rules) Regulations (Northern Ireland) 2005

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Pension Protection Fund (Entry Rules) Regulations (Northern Ireland) 2005 and shall come into operation –

(a)for the purposes of this regulation (other than paragraphs (3) and (4)) and regulation 2, on 1st April 2005;

(b)for all other purposes, on 6th April 2005.

(2) In these Regulations –

“the Order” means the Pensions (Northern Ireland) Order 2005;

“the 1988 Act” means the Income and Corporation Taxes Act 1988(1);

“the FSMA 2000” means the Financial Services and Markets Act 2000(2);

“the Insolvency Rules” means the Insolvency Rules (Northern Ireland) 1991(3);

“multi-employer scheme” has the meaning given by Article 280(4) (modification of the Order in relation to certain categories of schemes);

“multi-employer section” means a section of a segregated scheme which has at least 2 employers in relation to that section;

“non-segregated scheme” means a multi-employer scheme which is not a segregated scheme;

“normal pension age” has the meaning given by Article 122(11) (payment of scheme benefits);

“pensionable service” has the meaning given by section 66(2) of the Pension Schemes Act;

“public body” means a government department or any non-departmental public body established by a statutory provision to perform functions conferred on it under that statutory provision or any other statutory provision;

“relevant public authority” has the meaning given by Article 280(4);

“restricted information” has the meaning given by Article 179(4);

“segregated scheme” means a multi-employer scheme which is divided into 2 or more sections where –

“segregated part” –

“tax approved scheme” means a scheme which is approved, or was formerly approved, under section 590 (conditions for approval of retirement benefit schemes) or 591 (discretionary approval) of the 1988 Act, or in respect of which an application for such approval has been duly made but has not been determined.

(3) Subject to paragraph (4), in these Regulations, “employer”, in relation to an occupational pension scheme which has no active members, includes every person who was the employer of persons in the description of employment to which the scheme relates immediately before the time at which the scheme ceased to have any active members in relation to it.

(4) In these Regulations, “employer”, in relation to a multi-employer scheme, or a section of a multi-employer scheme, includes –

(a)in the case of a scheme which has no active members, every person who was the employer of persons in the description of employment to which the scheme, or section, relates immediately before the time at which the scheme, or section, ceased to have any active members in relation to it unless, after that time –

(i)a debt under Article 75(4) of the 1995 Order (deficiencies in the assets) becomes due from that person to the scheme, or section, and

(ii)either–

(aa)the full amount of the debt has been paid by that person to the trustees or managers of the scheme, or section, or

(bb)in circumstances where a legally enforceable agreement has been entered into between that person and the trustees or managers of the scheme, or section, the effect of which is to reduce the amount which is payable in respect of the debt, the reduced amount of the debt has been paid in full by that person to those trustees or managers, and

(b)in any other case, any person who has ceased to be the employer of persons in the description of employment to which the scheme, or section, relates unless –

(i)at the time when he so ceased, the scheme, or section, was not being wound up and continued to have active members in relation to it, and

(ii)a debt under Article 75 of the 1995 Order became due at that time from that person to the scheme, or section, and either –

(aa)the full amount of the debt has been paid by that person to the trustees or managers of the scheme, or section, or

(bb)in circumstances where a legally enforceable agreement has been entered into between that person and the trustees or managers of the scheme, or section, the effect of which is to reduce the amount which is payable in respect of the debt, the reduced amount of the debt has been paid in full by that person to those trustees or managers.

(5) In these Regulations, any reference to a numbered Article is a reference to the Article of the Order bearing that number.