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United Kingdom Statutory Instruments


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STATUTORY INSTRUMENTS


2006 No. 1934

FAMILY LAW, ENGLAND AND WALES

PENSIONS, ENGLAND AND WALES

CIVIL PARTNERSHIP, ENGLAND AND WALES

The Dissolution etc. (Pension Protection Fund) Regulations 2006

  Made 17th July 2006 
  Laid before Parliament 18th July 2006 
  Coming into force 8th August 2006 

The Lord Chancellor makes the following Regulations in exercise of the powers conferred by paragraphs 32, 35 and 36 of Schedule 5 to the Civil Partnership Act 2004[1]:

Citation, commencement and interpretation
     1. —(1) These Regulations may be cited as the Dissolution etc. (Pension Protection Fund) Regulations 2006 and shall come into force on 8th August 2006.

    (2) In these Regulations—

Modification of paragraph 25(4)
    
2. Paragraph 25(4) is modified so that, in relation to a modified pension attachment order, it applies as if—

Modification of orders made in pursuance of paragraph 25(5)
    
3. —(1) This regulation applies in relation to an order under Part 1 of Schedule 5 if—

    (2) The order is to have effect from the time when the trustees or managers of the scheme receive the transfer notice as if—

Variation and appeal of pension sharing or pension attachment orders
    
4. —(1) This regulation applies where—

    (2) Where this regulation applies, the following provisions of Schedule 5 are modified so that they apply as if—

Modification of the Dissolution etc (Pensions) Regulations 2005
    
5. The Dissolution etc (Pensions) Regulations 2005[2] are modified so that, in relation to a modified pension attachment order, they apply as if—


Falconer of Thoroton,C

Date 17th July 2006



EXPLANATORY NOTE

(This note is not part of the Regulations)


These Regulations provide for the following modifications.

Modifications of Schedule 5 to the Civil Partnership Act 2004 to allow for cases where a pension attachment order has been made and the Board of the Pension Protection Fund becomes involved with the pension arrangement in question.

Modification of orders including a provision made by virtue of paragraph 25(5) of Schedule 5 (order requiring a civil partner to exercise a right of commutation) to enable the order to be enforced in respect of compensation paid by the Pension Protection Fund.

Modifications of Schedule 5 in order to allow the court to exercise certain of its powers on an application to vary or an appeal in relation to a pension attachment or a pension sharing order notwithstanding the fact that the Board has assumed responsibility for the pension arrangement in question.

Modification of the Dissolution etc (Pensions) Regulations 2005 to provide for notices of change of circumstances in relation to pension attachment orders to be given to the Board where appropriate and for the Board to be discharged from liability in circumstances where payments cannot be made to the correct party or are made in error due to lack of or incorrect information.

The Pension Protection Fund was established by the Pensions Act 2004 (c.35) ("the Pensions Act"). It pays compensation to members of certain pension schemes when a qualifying insolvency event in relation to the employer occurs and where there are insufficient assets in the pension scheme to cover the levels of compensation which would be payable by the Pension Protection Fund under the Pensions Act 2004.


Notes:

[1] 2004 c.33.back

[2] S.I. 2005/2920.back

[3] S.I. 2005/674.back



ISBN 0 11 074866 2


 © Crown copyright 2006

Prepared 26 July 2006


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URL: http://www.bailii.org/uk/legis/num_reg/2006/20061934.html