The Occupational Pension Schemes (Modification) Regulations 1990

Made: 15th October 1990

Laid before Parliament: 22nd October 1990

Coming into force: 12th November 1990

The Secretary of State for Social Security, in exercise of powers conferred upon him by sections 64(1A) and (10A), 96(1) and (2) and 99(1) and (3) of the Social Security Act 1973 , and of all other powers enabling him in that behalf, after considering the report of the Occupational Pensions Board on the proposals submitted to them , hereby makes the following Regulations:

Citation and commencement

1

• (1) These Regulations may be cited as the Occupational Pension Schemes (Modification) Regulations 1990.

• (2) These Regulations come into force on 12th November 1990.

Reduction of pension fund surpluses

2

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Requirements for regulation 2 to apply

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Reflecting overriding legislation in scheme rules

4

The Occupational Pensions Board may make an order under section 136(1) of the Pension Schemes Act 1993 for the purpose of reflecting, in the rules of the scheme, any requirements of overriding legislation.

Signed

Signed by authority of the Secretary of State for Social Security.

Nicholas Scott — Minister of State, — 15th October 1990

Explanatory note

(This note is not part of the Regulations)

Footnotes

[^f00001]: 1973 c. 38. Section 64(1A) was inserted by paragraph 3 of Schedule 10 to the Social Security Act 1986 (c. 50). Section 64(10A) was inserted by paragraph 3 of Schedule 6 to the Social Security Act 1989 (c. 24). See definition of “prescribed” in section 99(1) and explanation of “regulations” in section 99(3).

[^f00002]: See section 68(1) and (2) of the Social Security Act 1973 (c. 38).

[^f00003]: 1988 c. 1. Schedule 22 deals with the reduction of pension fund surpluses.

[^f00004]: The prescribed maximum is currently 5 per cent. (See S.I. 1987/412, regulation 10(4).)

[^f00005]: 1975 c. 60. Section 37A was inserted by section 9(7) of the Social Security Act 1986 (c. 50).

[^f00006]: The definition of “money-purchase benefits” was inserted into section 66(1) by paragraph 11 of Schedule 2 to the Social Security Act 1986.

[^f00007]: Section 52A was inserted by section 2 of, and paragraph 2 of Schedule 1 to, the Social Security Act 1985 (c. 53). Paragraph 13 of Schedule 6 to the Social Security Act 1989 (c. 24) amended subsection (3) of section 52A and, for subsection (8), substituted new subsections (8) and (9).

Editorial notes

[^c2181170]: 1973 c. 38. Section 64(1A) was inserted by paragraph 3 of Schedule 10 to the Social Security Act 1986 (c. 50). Section 64(10A) was inserted by paragraph 3 of Schedule 6 to the Social Security Act 1989 (c. 24). See definition of “prescribed” in section 99(1) and explanation of “regulations” in section 99(3).

[^c2181171]: See section 68(1) and (2) of the Social Security Act 1973 (c. 38).

[^M_F_17799e09-7823-48ce-e25f-99da8e05e374]: Regs. 2 revoked (6.4.1997) by S.I. 1996/2156, regs. 1(1), 15(1)(a)

[^M_F_6e93ac66-5f36-47b3-ab4f-b86bf4f61799]: Regs. 3 revoked (6.4.1997) by S.I. 1996/2156, regs. 1(1), 15(1)(a)

[^M_F_7bb61812-f60d-4ea0-982b-3d6613319fa9]: Words in reg. 4 substituted (12.5.1994) by S.I. 1994/1062, reg. 1(2), 2, sch. 2 para. 25(2)