PART 2Pensions and Banking (Special Provisions) Act 2008 Bodies
Other liabilities to pay pensions
I1116Transfer of other pensions and benefits
1
The Treasury may by regulations make provision for the transfer to the Treasury of any of the following—
a
qualifying liabilities of Bradford & Bingley Limited or NRAM Limited;
b
qualifying liabilities of UK Asset Resolution Limited.
2
In this Part, “qualifying liability” means a liability to pay a pension or other benefit to or in respect of a person in connection with the person’s past service as an employee or office-holder of Bradford & Bingley Limited, Northern Rock Plc or another entity, other than a liability arising under the BBS Pension Scheme or the NRAM Pension Scheme.
3
The Treasury may by regulations provide for a relevant enactment to apply with modifications, or not to apply, to an arrangement under which a qualifying liability arises that is an occupational pension scheme.
4
In subsection (3), “relevant enactment” means an enactment that—
a
relates or refers to occupational pension schemes, and
b
is specified or described in regulations under subsection (3).
5
The Treasury may by regulations—
a
provide for an arrangement under which a qualifying liability arises to be treated as a particular type of occupational pension scheme for the purposes of an enactment specified or described in the regulations;
b
provide for the enactment to apply in relation to the arrangement subject to modifications specified in the regulations.