The Pension Protection Fund (Reviewable Matters and Review and Reconsideration of Reviewable Matters) (Amendment) Regulations 2006

• Citation: S.I. 2006/685
• Sections: 4

Section 1 Citation, commencement and interpretation

(1) These Regulations may be cited as the Pension Protection Fund (Reviewable Matters and Review and Reconsideration of Reviewable Matters) (Amendment) Regulations 2006 and shall come into force on 6th April 2006.

(2) In these Regulations “ the Act ” means the Pensions Act 2004.

Section 2 Amendment of Schedule 9 to the Act

In Schedule 9 to the Act (reviewable matters)—

(a) after paragraph 3A (the issue of, or failure to issue, a validation notice under regulation 2(5) of the Pension Protection Fund (Entry Rules) Regulations 2005 ), insert—

(3B) The provision of information by the Board under—

(a) regulation 3(2) of the Pension Protection Fund (Provision of Information) Regulations 2005 ( S.I. 2005/674 ) (provision of information following receipt of a notice under section 120(2)),

(b) regulation 3(2A) of those Regulations (provision of information following receipt of a notice under section 120(2) where the scheme or section is not eligible), or

(c) regulation 3(9) of those Regulations (provision of information following receipt of an application under section 129(1) or a notice under section 129(4)),

or the failure to provide information under those provisions.

(b) after paragraph 16 (determination by the Board of a person’s entitlement to compensation), insert—

(16A) Any step taken by the Board under section 163(4)(a) (adjustments to be made where Board assumes responsibility for a scheme) to recover the amount of any excess from future pension compensation payments.

(16B) Any determination by the Board, or the failure to make a determination, under regulation 6(2) of the Pension Protection Fund (General and Miscellaneous Amendments) Regulations 2006 (S.I. 2006/580 ) (circumstances where the Board is not required to recover overpaid scheme benefits).

(c) after paragraph 17A , insert—

(17B) Any determination made by the Board under regulation 16(2) or (5)(b) of the Pension Protection Fund (General and Miscellaneous Amendments) Regulations 2006 (S.I. 2006/580 ) (recovery of PPF compensation overpayments).

Section 3 Amendment of the Schedule to the Pension Protection Fund (Reviewable Matters) Regulations 2005

After paragraph 13 of the Schedule to the Pension Protection Fund (Reviewable Matters) Regulations 2005 (prescribed period for failure)—

(a) in the first column, insert—

(13A) Paragraph 16B“

(b) in the second column, insert—

(13A) The period beginning with the date on which the Board has sufficient information to make a determination under regulation 6(2) of the Pension Protection Fund (General and Miscellaneous Amendments) Regulations 2006 to the date on which the Board makes a determination under that provision.

Section 4 Amendment of the Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations 2005

(1) The Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations 2005 shall be amended in accordance with this regulation.

(2) In paragraph (3) of regulation 3 (time for making an application for a review decision)—

(a) in sub-paragraph (i), omit “or”; and

(b) in sub-paragraph (j), after “(closed schemes)”, add—

; or

the issue of a validation notice under paragraph (5) of regulation 2 of the Pension Protection Fund (Entry Rules) Regulations 2005 (schemes which are not eligible schemes)

(3) In the Schedule (interested persons)—

(a) after paragraph 3—

(i) in the first column, insert—

(3A) Paragraph 3B

(ii) in the second column, insert—

(3A)

(a) the insolvency practitioner; and

(b) the trustees or managers of the scheme.

(b) after paragraph 16—

(i) in the first column, insert—

(16A) Paragraph 16A

(16B) Paragraph 16B

(ii) in the second column, insert—

(16A) The person in respect of whom the determination is made.

(16B) The member, or the person in respect of a member, to whom section 163(4)(a) of the Act refers.

(c) after paragraph 18—

(i) in the first column, insert “18A. Paragraph 17B” ; and

(ii) in the second column, insert—

(18A) The person to whom regulation 16(1) of the Pension Protection Fund (General and Miscellaneous Amendments) Regulations 2006 refers.