Amendment of the Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations

6.—(1) The Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations (Northern Ireland) 2005(1) are amended in accordance with paragraphs (2) to (5).

(2) In regulation 1(2) (interpretation) after the definition of “partially guaranteed scheme” insert—

““the Partially Guaranteed Schemes Regulations” means the Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations (Northern Ireland) 2005;”.

(3) In regulation 5 (applications for fraud compensation payments)—

(a)in paragraph (5)(b) at the beginning insert “except where paragraph (6) applies,”;

(b)after paragraph (5) add—

“(6) This paragraph applies to a scheme to which regulation 2A of the Partially Guaranteed Schemes Regulations (schemes to which regulation 2(1) does not apply) applies.”.

(4) In regulation 7 (amount of fraud compensation)—

(a)in paragraph (5)(b) at the beginning insert “except where paragraph (6) applies,”;

(b)after paragraph (5) add—

“(6) This paragraph applies to a scheme to which regulation 2A of the Partially Guaranteed Schemes Regulations (schemes to which regulation 2(1) does not apply) applies.”.

(5) In regulation 11 (partially guaranteed schemes) for “The fraud compensation” substitute “Except where a partially guaranteed scheme is a scheme to which regulation 2A of the Partially Guaranteed Schemes Regulations (schemes to which regulation 2(1) does not apply) applies, the fraud compensation”.