The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994

• (b) in paragraph (2) for “Schedule 1A”, “paragraph 2 of Schedule 1A” to “paragraph 2(2) of Schedule 1A” and “that paragraph” substitute respectively “Paragraph 1 of Schedule 3 to the Act”, “the final salary method applies, the pensionable service and the amount of pension or other benefit referred to in sub-paragraph (1) of that paragraph” and “that method”.

• (6) In regulation 6 for “paragraph 5 of Schedule 1A”, in both places it occurs, substitute “paragraph 5 of Schedule 3 to the Act”.

• (7) In regulation 7 for “paragraph 7 of Schedule 1A” and “Paragraph 7 of Schedule 1A” substitute respectively “section 129 of the Act as it applies as respects Chapter II of Part IV of the Act” and “Section 129”.

• (8) In regulation 8 for “Paragraph 9” and “Paragraph 9 of Schedule 1A”, wherever they occur, substitute “Section 86(1) of the Act” and for “Schedule 1A” in each place it occurs, substitute “Chapter II of Part IV of the Act”.

• (9) In regulation 9—

• (a) in paragraph (1)(b) for “the method” onwards substitute “the final salary method, within the meaning of paragraph 1 of Schedule 3 to the Act”;

• (b) in paragraph (2) for “Paragraph 2 of Schedule 1A” substitute “Paragraph 1 of Schedule 3 to the Act” and omit “appropriate”.

• (10) In regulation 10—

• (a) in paragraph (1) for “paragraph 2 of Schedule 1A” substitute “the final salary method, within the meaning of paragraph 1 of Schedule 3 to the Act”;

• (b) for paragraph (2) substitute—

(2) Paragraph 1 of Schedule 3 to the Act is modified so that the scheme may provide for the pensionable service referred to in sub-paragraph (1) of that paragraph to be calculated to the nearest, next highest or next lowest whole month. Where a scheme provides for rounding as described in this paragraph it must provide for all pensionable service there referred to to be rounded in the same way.

• (11) In regulation 11—

• (a) in paragraph (1) for “paragraph 21” to “1973” substitute “section 165(6) of the Act”;

• (b) in paragraph (2) for “Schedule 1A” to “pensions)” substitute “Chapter II of Part IV of the Act”.

• (12) In regulation 12(2) for “Schedule 1A” substitute “Chapter II of Part IV of the Act”.

• (13) In regulation 13(2) for “Schedule 1A is”, “” to “Schedule 1A” and “D in that formula” substitute respectively “Paragraph 1 of Schedule 3 to the Act is”, “the total pensionable service referred to in sub-paragraph (1)(b) of that paragraph” and “the amount of the pension or other benefit which has accrued on the termination date as referred to in sub-paragraph (1) of that paragraph”.

The Personal and Occupational Pension Schemes (Pensions Ombudsman) Regulations 1991

32

• (1) The Personal and Occupational Pension Schemes (Pensions Ombudsman) Regulations 1991 shall be amended as follows—

• (2) In regulation 1(2)—

• (a) for the definition of “the Pensions Act” substitute ““the Act” means the Pension Schemes Act 1993”;

• (b) in the definition of “complaint” for “section 59C(1) of the Pensions Act” substitute “section 146(1) of the Act”;

• (c) in the definition of “dispute” for “section 59C(2) of the Pensions Act” substitute “section 146(2) of the Act”;

• (d) for “in the Pensions Act” substitute “in the Act”.

• (3) In regulation 2(2) for “Part IVA of the Pensions Act” substitute “Part X of the Act”.

The Occupational Pension Schemes (Investment of Scheme’s Resources) Regulations 1992

33

• (1) The Occupational Pension Schemes (Investment of Scheme’s Resources) Regulations 1992 shall be amended as follows—

• (2) In regulation 1(3) for “paragraph 3(1) of Schedule 16 to the Socil Security Act 1973” substitute “section 70 of the Pension Schemes Act 1993”.

• (3) In regulation 4(1)(b) omit from “within” to “contributions)”.

• (4) In regulation 5(4) for “section 57A(3) of the Social Security Pensions Act 1975” substitute “section 112(3) of the Pension Schemes Act 1993”.

Signed

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

William Hague — Parliamentary Under-Secretary of State,Department of Social Security — 12th April 1994

Explanatory note

(This note is not part of the Regulations)

These Regulations are made under the Pension Schemes Act 1993 and are made before the end of the period of 6 months beginning with the coming into force of that Act and the Pension Schemes (Northern Ireland) Act 1993.

The Pension Schemes Act 1993 consolidated and repealed the majority of the existing statutory provisions relating to occupational and personal pension schemes (with the exception of provisions relating to taxation). The provisions so consolidated (“the repealed provisions”) included provisions conferring powers to make regulations, which have been exercised by the making of a large number of Regulations (“the existing Regulations”). The existing Regulations continue to have effect, by virtue of section 17(2)(b) of the Interpretation Act 1978, despite the repeal of the provisions conferring the power to make them.

The Pension Schemes (Northern Ireland) Act 1993 made similar provisions in relation to Northern Ireland.

These Regulations substitute for references in the existing Regulations to the repealed provisions references to the corresponding provisions of the Pension Schemes Act 1993 and the Pension Schemes (Northern Ireland) Act 1993. They also make necessary changes to the existing Regulations where the existing Regulations operate by making detailed modifications of text of the repealed provisions which has not survived in the same form in the Pension Schemes Act 1993. In neither case, however, has any alteration of substance been made.

Schedule 2 to these Regulations contains the necessary amendments of the existing Regulations.

These Regulations are consequential upon the coming into force of the Pension Schemes Act 1993 and the Pension Schemes (Northern Ireland) Act 1993 and are made before the end of the period of 6 months beginning with the commencement of those Acts and therefore, under section 173 of the Social Security Administration Act 1992, no proposals to make them have been submitted to the Occupational Pensions Board or the Social Security Advisory Committee.

The Regulations do not impose any costs on business.

Footnotes

[^f00001]: 1992 c. 53.

[^f00002]: 1993 c. 48.

[^f00003]: 1993 c. 49.

[^f00004]: See section 185(6) of the Pension Schemes Act 1993 (c. 48), and section 173(5)(b) of the Social Security Administration Act 1992 (c. 5).

[^f00005]: S.I. 1973/1776.

[^f00006]: S.I. 1976/142.

[^f00007]: S.I. 1976/185.

[^f00008]: S.I. 1984/380.

[^f00009]: 1992 c. 5.

[^f00010]: S.I. 1985/1323.

[^f00011]: S.I. 1985/1929.

[^f00012]: S.I. 1985/1931.

[^f00013]: S.I. 1986/1046.

[^f00014]: S.I. 1986/1718.

[^f00015]: S.I. 1987/1101.

[^f00016]: S.I. 1987/1102.

[^f00017]: S.I. 1987/1103.

[^f00018]: S.I. 1987/1106.

[^f00019]: S.I. 1987/1108.

[^f00020]: S.I. 1987/1110.

[^f00021]: S.I. 1987/1111.

[^f00022]: S.I. 1987/1112.

[^f00023]: S.I. 1987/1113.

[^f00024]: S.I. 1987/1117.

[^f00025]: S.I. 1987/1118.

[^f00026]: S.I. 1988/137.

[^f00027]: S.I. 1988/2238.

[^f00028]: S.I. 1990/1140.

[^f00029]: S.I. 1990/1143.

[^f00030]: S.I. 1990/2021.

[^f00031]: S.I. 1990/2075.

[^f00032]: S.I. 1990/2277.

[^f00033]: S.I. 1990/2278.

[^f00034]: S.I. 1991/166.

[^f00035]: S.I. 1991/167.

[^f00036]: S.I. 1991/168.

[^f00037]: S.I. 1991/588.

[^f00038]: S.I. 1992/246.