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The Stakeholder Pension Schemes (Amendment) (No.2) Regulations 2001

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Amendment of regulation 1

2.—(1) Regulation 1 (citation, commencement and interpretation) shall be amended as follows.

(2) In paragraph (2) for “and Part IV shall come into force on 8th October 2001.” substitute—

“and—

(a)regulation 23 shall come into force on 6th April 2001; and

(b)Part IV (except regulation 23) shall come into force on 8th October 2001.”.

(3) In paragraph (3)—

(a)after the definition of “beneficiary” insert—

““dilution levy” has the meaning given by—

(a)

in relation to—

(i)

a scheme to which Part 4A (single pricing and dealing) of The Financial Services (Regulated Schemes) Regulations 1991(1) applies; or

(ii)

where a scheme to which those Regulations apply has constituent parts for the purposes of Table 12.1 of those Regulations (umbrella schemes: application of regulations) as modified by Part 4C of those Regulations (single pricing: adaptation of regulations), each such constituent part to which that Part 4A applies,

Schedule 4 to those Regulations as modified by that Part 4C;

in relation to a company in relation to which The Financial Services (Open-Ended Investment Companies) Regulations 1997(2) apply, Schedule 3 to those Regulations;”; and

(b)after the definition of “reporting accountant” insert—

““scheme instruments” means instruments establishing a stakeholder pension scheme;”.

(4) After paragraph (7) insert—

“(8) In paragraph (3), references in the definition of “dilution levy” to—

(a)The Financial Services (Regulated Schemes) Regulations 1991 are references to those Regulations; and

(b)The Financial Services (Open-Ended Investment Companies) Regulations 1997 are references to those Regulations,

as in force on the date on which the Stakeholder Pension Schemes (Amendment) (No.2) Regulations 2001 were made.”.

(1)

Not a statutory instrument. Published by the Financial Services Authority, London, 1997. Release 199, as amended by Release 203. The regulations form part of the Financial Services Authority Rulebook, and can be obtained, together with amendments, from the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. They are also available on the internet at http://www.fsa.gov.uk/pubs/rules/index-1999.html (for Release 199) and at http://www.fsa.gov.uk/pubs/rules/index-2000.html (for Release 203). They are made under sections 52, 81, 85, 86(3), 87(4) and (5), 88(10) and 90 of the Financial Services Act 1986 (c. 60). As to instruments under that Act, see paragraphs 4 to 9 of Schedule 9 to that Act. Paragraph 7 of that Schedule was amended by S.I. 1996/2827.

(2)

Not a statutory instrument. Published by the Financial Services Authority, London, 1997. Release 200, as amended by Releases 204 and 211. The regulations form part of the Financial Services Authority Rulebook, and can be obtained, together with amendments, from the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. They are also available on the internet at http://www.fsa.gov.uk/pubs/rules/index-1999.html (for Release 200) and at http://www.fsa.gov.uk/pubs/rules/index-2000.html (for Releases 204 and 211). They are made under regulation 6 of the Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996, S.I. 1996/2827 (and under Northern Ireland instrument S.R. 1997/251), to which there are amendments not relevant to these Regulations.

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