The Occupational Pension Schemes (Winding Up, Winding Up Notices and Reports etc.) (Amendment) Regulations 2007

• Citation: S.I. 2007/1930
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Occupational Pension Schemes (Winding Up, Winding Up Notices and Reports etc.) (Amendment) Regulations 2007 and shall come into force on 1st October 2007.

Section 2 Amendment of the Occupational Pension Schemes (Winding Up) Regulations 1996

In paragraph (6)(b)(i) of regulation 8 of the Occupational Pension Schemes (Winding Up) Regulations 1996 (requirements to be satisfied by transferee schemes, annuities etc.) omit the words “who has a right under the scheme rules to the payment”.

Section 3 Amendment of the Pension Sharing (Pension Credit Benefit) Regulations 2000

In paragraph (2) of regulation 3 of the Pension Sharing (Pension Credit Benefit) Regulations 2000 (commutation of the whole of pension credit benefit) insert—

(a) at the end of sub-paragraph (b) “or”;

(b) after sub-paragraph (b)—

(c) qualifies as a winding up lump sum for the purposes of paragraph 10 of Part 1 of that Schedule.

Section 4 Amendment of the Occupational Pension Schemes (Winding Up Notices and Reports etc.) Regulations 2002

In regulation 9 of the Occupational Pension Schemes (Winding Up Notices and Reports etc.) Regulations 2002 (reports to the Authority about winding up: time limits)—

(a) in paragraph (5), after “on or after 1st April 2003” insert “but before 1st October 2007”.

(b) after paragraph (5) add —

(6) In the case of a winding-up which begins on or after 1st October 2007, the first report to be made under section 72A must be made—

(a) after the end of the period of two years beginning with the day on which the winding up begins, and

(b) before the end of the period of three months beginning with the end of the period that applies under sub-paragraph (a).