The Occupational Pension Schemes (Modification of the Pension Schemes Act 1993) Regulations 1998

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 1995¹, and of all other powers enabling her in that behalf, hereby makes the following Regulations:—

Citation and commencement

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.

Modification of section 37(2) of the Pension Schemes Act 1993

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 1993² 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

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

Explanatory note

(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.

Footnotes