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The Personal and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 1999

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Amendment of the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996

8.—(1) The Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations 1996(1) shall have effect with the following amendments.

(2) In regulation 16(2) (periods covered by schedules of contributions) after “effective date” insert “, or the date on which the rates of contributions shown in the schedule are certified,”.

(3) In regulation 23 (failure to pay contributions due under schedule of contributions)–

(a)in paragraph (1)(a) before “must be given to the Authority” insert “subject to paragraph (1A),”;

(b)after paragraph (1) insert–

“(1A) No notice need be given under paragraph (1)(a) if–

(a)payment has been made before the end of the period of 10 days beginning with the due date; and

(b)the default is only the first or second such default in the period of twelve months ending on and including the due date.”;

(c)in paragraph (3) for “for the purposes of paragraphs (1) and (2)” substitute “for the purposes of paragraphs (1) to (2)”.

(1)

S.I. 1996/1536, to which there are amendments not relevant to these Regulations.

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