- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
3.—(1) In the heading to regulation 2 of the principal Regulations (transfers of accrued rights to and liability for payment of guaranteed minimum pensions from contracted-out schemes) for “contracted-out schemes” there shall be substituted “contracted-out salary related schemes and section 49 salary related schemes”.
(2) Regulation 2 of the principal Regulations shall be amended as follows—
(a)in paragraph (1)—
(i)for “contracted-out scheme” there shall be substituted “contracted-out salary related scheme or a section 49 salary related scheme”, and
(ii)for “in paragraphs (2) to (5)” there shall be substituted “in paragraphs (2) to (5A)”;
(b)in paragraphs (2), (4) and (5), for “another contracted-out scheme” there shall be substituted “a contracted-out salary related scheme or to a section 49 salary related scheme”;
(c)in paragraph (3)—
(i)for “to a scheme which is not a contracted-out scheme” there shall be substituted “to an overseas scheme”, and
(ii)there shall be omitted “in either of the paragraphs”;
and
(d)after paragraph (5) there shall be inserted the following paragraph—
“(5A) A transfer to a section 49 salary related scheme may be made where it is approved by the Board whether or not subject to conditions;”.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: