Amendment of Schedule 1 to the 2005 Regulations
16.—(1) Schedule 1 to the 2005 Regulations (actuary’s certificate of total difference between scheme assets and liabilities)(1) is amended as follows.
(2) In the first paragraph in the certificate(2), for “assets in scheme” substitute “assets of the scheme”.
(3) Omit the third paragraph in the Notes(3).
(4) In the fifth paragraph in the Notes, for “updated actuarial assessment” substitute “updated liabilities assessment”.
(5) After the sixth paragraph in the Notes, insert—
“The total amount of the employer’s debt will be the amount stated in paragraph 2 of the certificate plus any cessation expenses (as defined in regulation 2(1) of the Employer Debt Regulations). See regulation 6(1)(e)(ii) of the Employer Debt Regulations.”.
Schedule 1 was substituted by S.I. 2008/731.
The first paragraph in the certificate is headed “Comparison of value of scheme assets with amount of scheme liabilities”.
The third paragraph in the Notes reads “The value of the assets was provided by the trustees or managers of the scheme.”.