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4. In regulation 13 of the Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 1996(1) (hybrid schemes) for paragraph (2) substitute—
“(2) In paragraph (1) “relevant money purchase benefits” means—
(a)collective money purchase benefits(2); and
(b)other money purchase benefits, other than—
(i)benefits derived from the payment by any member of voluntary contributions; or
(ii)underpin benefits.”.
S.R. 1996 No. 621; regulation 13 was amended by regulation 4(4) of S.R. 2002 No. 64 and paragraph 3(3) of Schedule 3 to S.R. 2005 No. 568
See the definition of “collective money purchase benefits” in section 176(1) of the Pension Schemes (Northern Ireland) Act 1993 as inserted by paragraph 3(2) of Schedule 4 to the Pension Schemes Act 2021; see also Article 2(4) of the Pensions (Northern Ireland) Order 1995
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