LegalizeThe Protected Rights (Transfer Payment) Regulations 1996
Made: 5th June 1996
Laid before Parliament: 11th June 1996
Coming into force: 6th April 1997
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Citation, commencement and interpretation
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General
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Transfer payments to money purchase contracted-out schemes and appropriate personal pension schemes
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Transfer payments to salary-related contracted-out schemes
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Transfer payments to overseas schemes
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Modifications of Part III of the 1993 Act where transfer payments are made to salary-related contracted-out schemes
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Revocations and transitional provisions
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SCHEDULE 1 — REVOCATIONS
| Column 1 | Column 2 | Column 3 |
|---|---|---|
| Statutory Instrument Number | Statutory Instrument | Provision revoked |
| S.I. 1987/1118 | The Protected Rights (Transfer Payment) Regulations 1987 | The whole of the Regulations |
| S.I. 1994/1062 | The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 | Schedule 2, paragraph 20 |
| S.I. 1994/1751 | The Protected Rights (Transfer Payment) Amendment Regulations 1994 | The whole of the Regulations |
SCHEDULE 2 — TRANSITIONAL PROVISIONS
In a case such as is mentioned in regulation 7(3), the Protected Rights (Transfer Payment) Regulations 1987 are modified as follows:
- (a) all references to the Occupational Pensions Board are replaced by references to the Secretary of State;
- (b) the definition of “overseas scheme” is replaced by the definition of “overseas scheme” in these Regulations; and
- (c) the definition of “section 53 money purchase scheme” is replaced by the definition ““section 53 money purchase scheme” means a scheme which was formerly a money purchase contracted-out scheme and in respect of which section 53 applies” and the definition of “section 53 salary related scheme” is replaced by the definition “ “section 53 salary related scheme” means a scheme which was formerly a salary related contracted-out scheme and in respect of which section 53 applies”.
Signed
Signed by authority of the Secretary of State for Social Security.
Oliver Heald — Parliamentary Under-Secretary of State, — Department of Social Security — 5th June 1996
Explanatory note
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Footnotes
[^f00001]: Section 181(1) is cited because of the meaning there given to the words “prescribed” and “regulations”.
[^f00002]: 1993 c. 48.
[^f00003]: See section 185(2) and (6) of the Pension Schemes Act 1993 and section 173(1) of the Social Security Administration Act 1992 (c. 5), under which the requirement to consult does not apply where regulations are made only for the purpose of consolidating other regulations revoked by them or where the Occupational Pensions Board agrees that regulations need not be referred to them.
[^f00004]: S.I. 1987/1113. The relevant amending instrument is S.I. 1994/1062.
[^f00005]: Section 7 was amended by section 136(1) of and paragraph 22 of Schedule 5 to the Pensions Act 1995.
[^f00006]: Section 9(3) was amended by section 136(4) of and paragraph 24 of Schedule 5 to the Pensions Act 1995.
[^f00007]: Section 53 was amended by paragraph 48 of Schedule 5 to the Pensions Act 1995.
[^f00008]: Section 7(2B) was inserted by section 136(1) of the Pensions Act 1995.
[^f00009]: Section 10 was amended by paragraph 25 of Schedule 5 to the Pensions Act 1995.
[^f00010]: Section 9(2) was amended by section 136(3) of the Pensions Act 1995.
[^f00011]: Section 9(2B) was inserted by section 136(3) of the Pensions Act 1995.
[^f00012]: Section 97 was amended by paragraph 4 of Schedule 6 to the Pensions Act 1995.
[^f00013]: Section 48(2) was amended by paragraph 58 of Schedule 1 to the Social Security Incapacity for Work Act 1994 (c. 18) and section 140(2) of the Pensions Act 1995.
[^f00014]: S.I. 1987/1118, amended by S.I. 1994/1062 and S.I. 1994/1751.
[^f00015]: Section 8 was amended by section 136(2) of and paragraph 23 of Schedule 5 to the Pensions Act 1995.
[^f00016]: Section 14 was amended by paragraph 27 of Schedule 5 to the Pensions Act 1995.
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Editorial notes
[^M_F_e7ca04e8-86e2-48ad-a121-43bbf38aa30e]: Regulations revoked (6.4.2012) by The Pensions Act 2007 (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Amendments) Regulations 2011 (S.I. 2011/1245), regs. 1(2)(a), 5
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