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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Occupational Pension Schemes (Modification of the Pension Schemes Act 1993) Regulations 1998 No. 1466 URL: http://www.bailii.org/uk/legis/num_reg/1998/uksi_19981466_en.html |
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Statutory Instruments
PENSIONS
Made
16th June 1998
Laid before Parliament
23rd June 1998
Coming into force
20th July 1998
The Secretary of State for Social Security, in exercise of the powers conferred on her by section 174(3) and (4) of the Pensions Act 1995(1), and of all other powers enabling her in that behalf, hereby makes the following Regulations:-
1. These Regulations may be cited as the Occupational Pension Schemes (Modification of the Pension Schemes Act 1993) Regulations 1998 and shall come into force on 20th July 1998.
2. In connection with the coming into force of paragraph 39 of Schedule 5 to the Pensions Act 1995, with respect to any alteration made prior to 6th April 1997 to the rules of any contracted-out scheme, section 37(2) of the Pension Schemes Act 1993(2) shall be modified so as to have effect as follows:-
"(2) Regulations may provide for the validation with retrospective effect in prescribed circumstances of any alteration to the rules of a contracted-out scheme where such alteration was made prior to 6th April 1997 and was void immediately before that date by virtue of subsection (3) of this section as then in force.".
Signed by authority of the Secretary of State for Social Security.
John Y. Denham
Parliamentary Under-Secretary of State,
Department of Social Security
16th June 1998
(This note is not part of the Regulations)
These Regulations modify section 37(2) of the Pension Schemes Act 1993 to enable Regulations to be made to provide for the validation with retrospective effect of alterations made prior to 6th April 1997 to the rules of contracted-out occupational pension schemes.
1993 c. 48; section 37 was substituted by paragraph 39 of Schedule 5 to the Pensions Act 1995.
