144.—(1) Part IV applies to the Environment Agency Closed Fund with the following modifications.
(2) Omit regulations 75, 76 and 78 to 81.
(3) In regulation 77—
(a)omit paragraph (1)(c) and the word “and” immediately preceding it;
(b)for paragraphs (3) to (7) substitute—
“(3) After obtaining a valuation under paragraph (1) the Environment Agency must obtain from the same actuary a certificate specifying the amount by which in his opinion the value of the assets of the fund exceeds or, as the case may be, falls short of, the amount required to meet its existing and prospective liabilities.”;
(c)omit paragraph (10)(b) and (c).
(4) The Environment Agency Closed Fund is the Closed Fund vested in the Environment Agency by regulation 2(1) of the Local Government Pension Scheme (Environment Agency) Regulations 1996(1).