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The Financial Assistance Scheme Regulations 2005

Type Statutory-Instrument

Publication 2005-07-19

Last updated 2021-07-08

State In force

Department King's Printer of Acts of Parliament

Source legislation.gov.uk

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(2) Regulations under subsection (1) may, in particular, make provision— (a) for the recovery of amounts paid by the scheme manager of the financial assistance scheme in excess of entitlement; (b) specifying the circumstances in which payments from the financial assistance scheme can be suspended.

; and

5

In section 190 (information to be provided to the Board etc.)—

(a) in subsection (1), for “the Board” substitute “the scheme manager”

(b) in subsection (2), for “of entitlement to compensation under Chapter 3 of this Part” substitute “ that a person is entitled to a payment from the financial assistance scheme ”.

6

In section 191 (notices requiring provision of information to the Board)—

(a) in subsection (1)(b), after “the Board’s” insert “or scheme manager’s”;

(b) in subsection (2)—

(i) before paragraph (a), insert—

(za) the scheme manager, in relation to the scheme manager’s functions,

(ii) in paragraph (a), after “the Board,” insert “in relation to the Board’s functions,”; and

(iii) in paragraph (b), after “the Board” insert “or scheme manager”; and

(i) omit “and” at the end of paragraph (d);

(ii) after paragraph (d), insert—

(da) in the case of a wound up scheme, any insurance company (within the meaning of the Financial Assistance Scheme Regulations 2005) which is paying annuities to former members of the scheme, and

; and

(iii) in paragraph (e)—

(aa) after “the Board” insert “, scheme manager”; and

(bb) after “the Board’s” insert “or scheme manager’s”.

7

In section 192 (entry of premises to enable performance of functions by the Board)—

(a) for “the Board”, in each place, substitute “ the scheme manager ”;

(b) in subsection (1)(f), for “the Board's” substitute “ the scheme manager's ”; and

8

In section 194 (warrants to enforce entry of premises and obtaining of documents by, or on behalf, of the Board)—

(a) for “the Board”, in each place, substitute “ the scheme manager ”;

(b) omit in both places “ , or any corresponding provision in force in Northern Ireland ”;

(d) in subsection (1)(b), for “the Board's” substitute “ the scheme manager's ”;

(e) in subsection (2)(a), after “the information” insert “ or complaint ”; and

(f) in subsection (6), for “The Board” substitute “ The scheme manager ”.

9

In section 195(1)(b) (offence of providing false or misleading information to the Board), for the words from “by the Board” to the end of that paragraph substitute “ by the scheme manager for the purposes of exercising its functions. ”.

10

In section 196 (use of information by the Board)—

(a) for “the Board”, in each place, substitute “ the scheme manager ”; and

(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11

In section 197 (restricted information)—

(a) in subsections (1) and (3), after “the Board”, in each place, insert “ or the scheme manager ”;

(ab) in subsection (2), before paragraph (a) insert—

(za) regulation 6A of the Financial Assistance Scheme Regulations 2005,

(b) in subsection (4), after “its functions” insert “ or by the scheme manager in the exercise of its functions ”;

(c) in subsection (6)(a), after “that section” insert “ (disregarding any modifications of that section made by the Financial Assistance Scheme Regulations 2005) ”; and

(d) after subsection (6), insert—

(6A) Information which— (a) is obtained under section 191 by a person authorised under subsection (2)(b) of that section, but (b) if obtained by the scheme manager, would be restricted information, is treated for the purposes of subsections (1) and (3) and sections 198 to 201 and 203 as restricted information which the person has received from the scheme manager.

12

In section 198 (disclosure by the Board of restricted information for facilitating exercise of functions by the Board)—

(a) at the end of subsection (1), add “ or the scheme manager to exercise its functions ”;

(b) in subsection (2)—

(i) after “its functions”, insert “ or the scheme manager properly to exercise any of its functions ”; and

(ii) after “the Board”, in the second place, insert “ or, as the case may be, the scheme manager ”; and

(i) after “the Board”, in both places, insert “ or, as the case may be, the scheme manager ”; and

(ii) for “he” substitute “ that person ”.

13

In section 200(1) (disclosure by the Board of restricted information for facilitating the exercise of functions by other supervisory authorities)—

(a) after “the Board”, in the first place, insert “ or the scheme manager ”; and

(b) after “the Board”, in the second place, insert “ or, as the case may be, the scheme manager ”.

14

In section 201 (other permitted disclosures of restricted information by the Board)—

(a) in subsection (1)—

(i) after “the Board”, in the first place, insert “ or the scheme manager ”;

(ii) after “the Board”, in the second place, insert “ or, as the case may be, the scheme manager ”;

(b) in subsection (2), after “the Board”, in both places, insert “ or the scheme manager ”;

(d) in subsection (8), for “with the consent of the Board” substitute—

(a) in a case where the disclosure under that subsection was made by the Board, with the consent of the Board, and (b) in a case where the disclosure under that subsection was made by the scheme manager, with its consent

(e) for subsection (9)(a), substitute—

(a) in a case where the disclosure under that subsection was made by the Board, with the consent of the Board, (aa) in a case where the disclosure under that subsection was made by the scheme manager, with its consent, and

; and

(f) in subsection (10)—

(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(ii) after “the Board” insert “ or, as the case may be, the scheme manager ”; and

(iii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15

In section 203 (provision of information to members of schemes etc. by the Board)—

(a) in subsection (1), after “the Board” insert “ or the scheme manager ”;

(b) in subsections (3)(c), (5)(b) and (c) and (6)(c), after “the Board”, in each place, insert “ or, as the case may be, the scheme manager ”;

(d) omit “ or ” at the end of subsection (1)(b)(ii) and insert after that sub-paragraph—

(iia) relating to any determination made in relation to the financial assistance scheme, or

(e) in subsection (2), after “Chapter 3” insert “ or, as the case may be, to a payment from the financial assistance scheme ”;

(f) in subsection (4)—

(i) in paragraph (a), after “who is” insert “ or was ”;

(ii) in paragraph (b), after “member” insert “ or former member ”; and

(g) after subsection (6)(a)(iv), insert—

(v) in the case of a wound up scheme, any insurance company (within the meaning in the Financial Assistance Scheme Regulations 2005) which is paying annuities to former members of the scheme,

16

In section 204 (interpretation of sections 190 to 203)—

(a) after subsection (2), insert—

(2A) The “scheme manager” is the person who manages the financial assistance scheme. (2B) The “financial assistance scheme” is the scheme established by regulations under section 286.

; and

(b) after subsection (3), add—

(4) Where the scheme manager has functions in relation to a scheme which is wound up, any reference to a trustee, manager, professional adviser or employer in relation to the scheme is to be read as reference to a person who held that position in relation to the scheme before it wound up.

SCHEDULE 2 — DETERMINATION OF ANNUAL AND INITIAL PAYMENTS

Introductory

1

(1) This Schedule applies for the purposes of determining the amount of an annual payment or of an initial payment payable to or in respect of qualifying members of qualifying pension schemes.

(2) In this Schedule—

“appropriate person” has the meaning given by regulation 2(1) of the FAS Information and Payments Regulations (interpretation);

“guaranteed minimum pension” has the meaning given in section 8(2) of the 1993 Act;

“relevant information” means any information—that is described in any of paragraphs (j) to (l) of the fourth item of the table in paragraph 1(2) of Schedule 1 to the FAS Information and Payments Regulations (information to be provided by appropriate persons);that is to be provided by an appropriate person to the scheme manager in accordance with regulation 3(3)(a) of those Regulations; andfrom which the amount of the actual pension or interim pension of a qualifying member, or of a survivor of a qualifying member, may be derived;

“revalued notional pension” shall be construed in accordance with regulation 17(10).

(3) Paragraphs 2 to 5B are subject to paragraphs 6 to 9.

(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Actual pension

2

(1) In this Schedule, “actual pension” means, subject to sub-paragraphs (3) to (4) and paragraph 2A, the annual rate of annuity which has been, can be or could have been, paid to the beneficiary as at the later of—

(a) the day from which the beneficiary is entitled to an annual payment; or

(b) the day on which the qualifying pension scheme began to be wound up,

as a result of the purchase of an annuity with the assets available to discharge the liability of the scheme to, or in respect of, the qualifying member after that liability has, or had, been determined.

(1A) For the purposes of sub-paragraph (1), where a transfer notice has been given in respect of a qualifying pension scheme, no assets which are transferred to the Secretary of State shall be treated as being available to discharge the liability in respect of any qualifying member of that scheme from the day on which the transfer notice is given.

(2) The liability of the scheme to the beneficiary shall be determined for the purposes of sub-paragraph (1)—

(a) in accordance with section 73 of the 1995 Act; or

(b) where that section does not apply, in accordance with the scheme rules.

(3) The annual rate of annuity which has been, can be or could have been purchased for the beneficiary for the purposes of sub-paragraph (1) or, as the case may be, paragraph 2A, as a result of the purchase of an annuity with the assets referred to in that sub-paragraph, shall be determined (or, as the case may be, redetermined)—

(a) where the beneficiary was an active or a deferred member of the qualifying pension scheme on the day before the day on which the qualifying pension scheme began to be wound up, on the basis that the sum which will be, or has been, used to discharge the liability of the scheme to him will only be, or has only been, used to purchase an annuity when the qualifying member attains, or attained, his normal retirement age;

(b) where the beneficiary is a survivor or surviving dependant of a member of that scheme, having regard to the annual rate of annuity which will come into payment to that beneficiary on the later of—

(i) the day on which an annuity has been purchased from the assets of the scheme; or

(ii) the day after the day on which that qualifying member died;

(ba) where the beneficiary is a survivor or surviving dependant, on the basis that any amount (including any lump sum) payable to that beneficiary as a result of the death of the qualifying member being within a period specified in the scheme rules beginning on the day on which the member became entitled to a pension from the scheme or, if later, the day on which the pension was first paid, shall not be taken into account;

(d) on the basis that there has been no commutation of benefits deriving from the scheme after the day on which the scheme began to be wound up.

(3A) Wherethe scheme manageris satisfied that the amount of interim pension paid to the beneficiary in respect ofanyprevious yearor yearsin which an annual payment was payable tothe beneficiary is higher or lower than the annual rate of annuity determined in accordance with this paragraph, thescheme manager may determine how the actual pension is to be calculated for the purposes of determining the annual payment in respect of each yearin which an annual payment is payable to the beneficiary, having regard to—

(a) the annual rate of annuity determinedin accordance withthis paragraph;

(b) the amount of any interim pension which was, or is due to be,paid to the beneficiary; and

(3B) Sub-paragraph (3D) applies where the scheme manager is satisfied that the sum of interim pension paid to a beneficiary and any payment made under these Regulations in respect of any year in the period determined in accordance with sub-paragraph (3C) is higher or lower than the sum of—

(a) the revalued notional pension or survivor notional pension; and

(b) any annual increases or proportion of annual increases, which the scheme manager considers could have been paid in respect of that year, taking into account—

(i) the determination under regulation 27(1)(d);

(ii) the revaluation amount determined in accordance with regulation 17(11); and

(iii) the proportion of that year which falls after the 1st January.

(3C) For the purposes of sub-paragraph (3B), the period is the period from—

(a) the earlier of—

(i) the day on which the beneficiary became entitled to a payment under these Regulations; and

(ii) the day on which the beneficiary became entitled under the scheme rules to a pension or other benefit; or

(b) the day on which the qualifying pension scheme began to be wound up if that is later than the day determined in accordance with paragraph (a),

until the day on which the scheme manager gave a transfer notice to the scheme trustees or managers.

(3D) Where this sub-paragraph applies, the scheme manager may—

(a) determine how the actual pension is to be calculated, having regard to—

(i) the amount of interim pension which was paid to the beneficiary;

(ii) the amount of the sum of—

(aa) the revalued notional pension or survivor notional pension; and

(bb) any annual increases, or proportion of annual increases, which the scheme manager considers could have been paid;

(iii) the amount of any payments made under these Regulations prior to the day on which the transfer notice is given; and

(iv) such other matters as the scheme manager considers relevant; and

(b) where the sum of the interim pension paid and any payments made under these Regulations in respect of any year is lower than the sum of the amounts referred to in sub-paragraph (3B)(a) and (b), make a payment to the beneficiary or, where the beneficiary has died prior to the scheme manager making this determination, to the beneficiary’s estate, having regard to—

(i) the amount of interim pension which was paid to the beneficiary;

(ii) the amount of the sum of—

(aa) the revalued notional pension or survivor notional pension; and

(bb) any annual increases, or proportion of annual increases, which the scheme manager considers could have been paid;

(iii) the amount of any payments made under these Regulations prior to the scheme manager giving the transfer notice; and

(iv) such other matters as the scheme manager considers relevant.

(3E) Where the scheme manager is satisfied that an amount is owed by the beneficiary to the Secretary of State as a result of the beneficiary owing, before the day on which a transfer notice is given, an amount to a qualifying pension scheme to which Part 7 applies, the scheme manager may determine how the actual pension is to be calculated, having regard to the amount owed by the beneficiary and to such other matters as the scheme manager considers relevant.

(3F) Where the beneficiary is a qualifying member who has received a payment in accordance with regulation 17H (payments to qualifying members receiving a pension from the qualifying pension scheme before entitlement to an annual payment or ill health payment), or the survivor or surviving dependant of such a qualifying member, the scheme manager may determine how the actual pension is to be calculated, having regard to—

(a) the amount paid under regulation 17H;

(b) any interim pension paid by the scheme from the day on which the scheme began to be wound up until the day on which a transfer notice was given; and

(3G) Where the beneficiary is a qualifying member to whom regulation 17D applies or a survivor or surviving dependant of such a qualifying member, the scheme manager may determine how the actual pension is to be calculated, having regard to any lump sum paid and determined in accordance with that regulation.

(3H) Where the beneficiary is—

(a) a qualifying member to whom regulation 17H applied whose payment under Schedule 7 had been reduced under paragraph 1(2) or (5) of that Schedule; or

(b) a beneficiary who was entitled to an annual payment determined in accordance with Schedule 4 whose payment under that Schedule has been reduced under paragraph 1(2) or (5),

the scheme manager shall include the amount by which the payment has been reduced when determining the actual pension.

(3I) Sub-paragraph (3J) applies where—

(a) a qualifying member to whom Part 7 applies has received a payment from the scheme before becoming entitled to an annual payment;

(b) a transfer notice has been given in respect of the qualifying pension scheme; and

(3J) Where this sub-paragraph applies, the scheme manager may determine how the actual pension is to be calculated, having regard to—

(a) any interim pension paid by the scheme from the day on which the scheme began to be wound up until the day on which the transfer notice was given; and

(b) such other matters as the scheme manager considers relevant.

(3K) Where—

(a) the beneficiary is a qualifying member or the survivor or surviving dependant of a qualifying member to whom part 7 applies;

(b) the qualifying member has commuted for a lump sum a portion of the benefits deriving from the scheme after the day on which the scheme began to be wound up; and

the scheme manager may determine how the actual pension is to be calculated having regard to any lump sum paid as a result of the commutation.

(4) Where the scheme manager is satisfied that it is not possible for him to determine the annual rate of annuity for the purposes of sub-paragraph (1) having regard to the information available to it and to such other matters as the scheme manager considers appropriate, it shall determine the annual rate of annuity on the basis of the sum which would discharge the liability of the scheme to the beneficiary and of such other matters as it considers relevant.

(5) Where the scheme manager is satisfied that increases have been, are being, or will be made to the annual rate of annuity, and it considers that those increases are not reasonable, it may determine the annual rate of annuity on the basis of the sum which would discharge the liability of the scheme to the beneficiary and of such other matters as it considers relevant.

Qualifying members receiving pensions from the qualifying pension scheme

3

(1) This paragraph applies to—

(a) a member or former member of a qualifying scheme who—

(i) is a qualifying member under regulation 15(1), and

(ii) was entitled to present payment of a pension under the scheme rules on the day before the day on which the qualifying pension scheme began to be wound up; and

(b) a person who is regarded as a qualifying member under regulation 15(5).

(2) The annual payment payable to a qualifying member to whom this paragraph applies shall be—

$(expected pension x 0.9 ) - actual pension$.

(3) Subject to sub-paragraphs (4) and (5) and paragraphs 4A and 4B, in this paragraph “expected pension” means—

(a) the annual rate of the pension which was or should have been in payment to the qualifying member in accordance with the scheme rules in respect of rights accrued in a qualifying pension scheme as at the day before the day on which the qualifying pension scheme began to be wound up; or

(b) except where paragraph (c) applies, where the day on which the qualifying pension scheme began to be wound up is earlier than 14 May 2004, the aggregate of—

(i) the annual rate of the pension which was or should have been in payment to the qualifying member in accordance with the scheme rules in respect of rights accrued in a qualifying pension scheme as at the day on which the qualifying pension scheme began to be wound up; and

(ii) the revaluation amount for the period beginning on the day on which the qualifying pension scheme began to be wound up and ending on 14 May 2004; or

(i) the annual rate of pension which was or should have been in payment to the qualifying member in accordance with scheme rules in respect of rights accrued in a qualifying pension scheme as at the day on which the qualifying pension scheme began to be wound up; and

(ii) where the qualifying member attains normal retirement age before 31st March 2011, the revaluation amount for the period beginning on the day on which the qualifying pension scheme began to be wound up and ending on the day on which the qualifying member attains normal retirement age; and

(iii) where the qualifying member attains normal retirement age on or after 31st March 2011, the sum of—

(aa) the revaluation amount for the period beginning on the day on which the qualifying pension scheme began to be wound up and ending on 30th March 2011; and

(bb) the revaluation amount for the period beginning on 31st March 2011 and ending on the day on which the qualifying member attains normal retirement age.

(3A) In sub-paragraph (3)(b)(ii) ..., the revaluation amount is—

(a) where that period is less than one month, nil; or

(b) in any other case, the revaluation percentage of the amount of the annual rate of pension under sub-paragraph (3)(b)(i) ....

(3AA) In sub-paragraph (3)(c)(ii) and (iii), the revaluation amount is—

(a) where the period—

(i) determined in accordance with sub-paragraph (3)(c)(ii), where it applies; or

(ii) covered by the periods determined in accordance with paragraphs (aa) and (bb) of sub-paragraph (3)(c)(iii), where that sub-paragraph applies,

is less than one month, nil; or

(b) in any other case, the revaluation percentage of the amount of the annual rate of pension under sub-paragraph (3)(c)(i).

(3B) In sub-paragraphs (3A) and (3AA), “the revaluation percentage” means the lesser of—

(a) the percentage increase in the general level of prices ... during the revaluation period determined in accordance with sub-paragraph (3)(b)(ii) or (c)(ii) or (iii); and

(b) the maximum revaluation rate.

(3C) The method for determining the percentage increase in the general level of prices ... during the revaluation period determined in accordance with sub-paragraph (3)(b)(ii) is—

$$(100×(A÷B))−100$where—A is the level of the retail prices index for March 2004; andB is the level of the retail prices index for the month two months before the month during which the relevant qualifying pension scheme began to be wound up.$

(3ZD) The method for determining the percentage increase in the general level of prices ... during the revaluation periods determined in accordance with sub-paragraph (3)(c)(ii) and (iii)(aa) is—

$$(100×(A÷B))−100$where—A is the level of the retail prices index for the month which falls two months before the month in which the last day of that revaluation period falls; andB is the level of the retail prices index for the month which falls two months before the month during which the relevant qualifying pension scheme began to be wound up.$

(3ZDA) The method for determining the percentage increase in the general level of prices during the revaluation period determined in accordance with sub-paragraph (3)(c)(iii)(bb) is—

$$(100×(A÷B))−100$where—A is the general level of prices for the month which falls two months before the month during which the qualifying member attains normal retirement age; andB is the general level of prices for January 2011.$

(3D) In sub-paragraph (3B)(b), “the maximum revaluation rate” in relation to the revaluation period or periods is—

(a) if the period or periods mentioned in sub-paragraph (3)(c) together form a period of 12 months, 5%; or

(b) in any other case, the percentage that would be the percentage mentioned in sub-paragraph (3B)(a) had the general level of prices ... increased at the rate of 5% compound per annum during those periods.

(4) Where the scheme manager is satisfied that it is not possible for it to determine the annual rate of the pension for the purposes of sub-paragraph (3) having regard to all the information available to it, it shall determine that annual rate, having regard to such matters as it considers relevant.

(5) Where—

(a) the annual rate of the pension determined for the purposes of calculating the expected pension under sub-paragraph (2) includes an amount which, under the rules of the qualifying pension scheme, was payable for a period which is shorter than the period in respect of which the remainder of the pension was payable; and

(b) the liabilities of the scheme in respect of the beneficiary have been discharged (whether by the purchase of an annuity or by other means) in a manner which does not provide for a reduction in the annual rate of an annuity from the date on which the amount referred to in paragraph (a) would have ceased to be payable under the rules of the pension scheme,

the scheme manager shall determine the expected pension having regard to the expected pension which would have been determined in accordance with paragraph 4A if that paragraph had applied and to such other matters as it considers relevant.

Active and deferred members

4

(1) This paragraph applies in respect of a qualifying member of a qualifying pension scheme who ... was an active member or a deferred member of that scheme on the day before the day on which the qualifying pension scheme began to be wound up.

(2) The annual payment payable to a qualifying member to whom this paragraph applies shall be—

$(expected pension x 0.9 ) - actual pension$.

(3) In sub-paragraph (2), “expected pension” means, subject to sub-paragraphs (3A)... and (4) and paragraphs 4A and 4B, the aggregate of—

(a) the annual rate of the pension to which the qualifying member would have been entitled in accordance with the scheme rules had he attained his normal retirement age when the pensionable service relating to the pension ended;

(b) the revaluation amount for the first revaluation period (see sub-paragraphs (5) and (6)); ...

(ca) in any case where the day—

(i) on which the qualifying member attains normal retirement age; or

(ii) from which the qualifying member becomes entitled to an annual payment in accordance with regulation 17(2), (3) or (3C) or 17C,

is on or after 31st March 2011, the revaluation amount for the third revaluation period (see sub-paragraphs (10A) and (11)); and

(d) in any case where 14 May 2004 is later than—

(i) the day on which the qualifying pension scheme began to be wound up; and

(ii) the day on which the qualifying member attained normal retirement age,

the revaluation amount for the fourth revaluation period (see sub-paragraphs (13) to (13D)).

(3A) Where—

(a) the annual rate of the pension determined for the purposes of sub-paragraph (3)(a) includes an amount which, under the rules of the qualifying pension scheme, was payable for a period which is shorter than the period in respect of which the remainder of the pension was payable; and

(b) the liabilities of the scheme in respect of the beneficiary have been discharged (whether by the purchase of an annuity or by other means) in a manner which does not provide for a reduction in the annual rate of an annuity from the date on which the amount referred to in paragraph (a) would have ceased to be payable under the rules of the pension scheme,

the scheme manager shall determine the annual rate for the purposes of sub-paragraph (3)(a) having regard to the expected pension which would have been determined in accordance with paragraph 4A if that paragraph had applied and to such other matters as it considers relevant.

(3B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) In any case where the scheme manager is satisfied, having regard to the information available to it, that it is not possible for it to identify any one of the elements in sub-paragraph (3) or (3A) or paragraph 4B it may determine how the annual payment is to be calculated having regard to such matters as it considers relevant.

(5) The first revaluation period is the period—

(a) beginning on the day on which the qualifying member’s pensionable service ended; and

(b) ending on the day before the day on which the qualifying pension scheme began to be wound up.

(6) The revaluation amount for the first revaluation period is the amount by which the annual rate of the pension under sub-paragraph (3)(a) would fall to be revalued—

(a) in relation to any guaranteed minimum pension, in accordance with section 16 of the 1993 Act, having regard to the relevant scheme rules; and

(b) in relation to the remainder of the pension, in accordance with Chapter 2 of Part 4 of the 1993 Act or, where scheme rules are more favourable, in accordance with scheme rules.

(7) The second revaluation period is the period—

(a) beginning on the day after the date determined in accordance with sub-paragraph (5)(b); and

(b) ending on—

(i) the day on which the qualifying member attains normal retirement age;

(ii) the day from which the qualifying member is entitled to an annual payment in accordance with regulation 17(2), (3) or (3C) or 17C; or

(iii) 30th March 2011,

whichever is the earliest.

(7A) The third revaluation period is the period beginning on 31st March 2011 and ending on—

(a) the day on which the qualifying member attains normal retirement age; or

(b) the day from which the qualifying member is entitled to an annual payment in accordance with regulation 17(2), (3) or (3C) or 17C,

whichever is the earlier.

(8) The revaluation amount for the second and third revaluation periods is, subject to sub-paragraph (12)—

(a) where the period—

(i) determined in accordance with sub-paragraph (7) where sub-paragraph (3)(ca) does not apply; or

(ii) covered by the second and third revaluation periods where sub-paragraph (3)(ca) applies,

is a period of less than one month, nil; or

(b) in any other case, the revaluation percentage of the aggregate of the annual rate of the pension under sub-paragraph (3)(a) and the revaluation amount for the first revaluation period under sub-paragraph (6).

(9) In sub-paragraph (8), “the revaluation percentage” means the lesser of—

(a) the percentage increase in the general level of prices during the second revaluation period or, where sub-paragraph (3)(ca) applies, the second and third revaluation periods determined in accordance with sub-paragraphs (7) and (7A) respectively; and

(b) the maximum revaluation rate.

(10) The method for determining the percentage increase in the general level of prices ... during the second revaluation period is—

$$100×AB-100$where—A is the level of the retail prices index for the month which falls two months before the month in which the last day of the revaluation period falls;B is the level of the retail prices index for the month two months before the month during which the relevant qualifying pension scheme began to wind up.$

(10A) The method for determining the percentage increase in the general level of prices during the third revaluation period is—

$$(100×(A÷B))−100$where—A is the general level of prices for the month which falls two months before the month in which the day on which the qualifying member is entitled to an annual payment falls; andB is the general level of prices for January 2011.$

(11) In sub-paragraph (9)(b), “the maximum revaluation rate” in relation to the second and third revaluation periods is—

(a) 5% if either—

(i) sub-paragraph (3)(ca) does not apply and the period referred to in sub-paragraph (c) is a period of 12 months; or

(ii) sub-paragraph (3)(ca) applies and the periods referred to in sub-paragraph (3)(c) and (ca) together form a period of 12 months; or

(b) in any other case, the percentage that would be the percentage mentioned in sub-paragraph (9)(a) had the general level of prices, whether determined in accordance with sub-paragraph (10) or (10A), increased at the rate of 5% compound per annum during those periods.

(12) In determining the revaluation amount for the second or third revaluation period in accordance with sub-paragraphs (8) to (11), no revaluation shall be made in respect of any benefits which are not subject to revaluation under the scheme rules.

(13) The fourth revaluation period is the period—

(a) beginning on the day after the day on which the member attained normal retirement age; and

(b) ending on 14 May 2004.

(13A) The revaluation amount for the fourth revaluation period is—

(a) where that period is less than one month, nil; or

(b) in any other case, the revaluation percentage of the aggregate of—

(i) the annual rate of the pension under sub-paragraph (3)(a);

(ii) the revaluation amount for the first revaluation period under sub-paragraph (6); and

(iii) the revaluation amount for the second revaluation period under sub-paragraph (8).

(13B) In sub-paragraph (13A), “the revaluation percentage” means the lesser of—

(a) the percentage increase in the general level of prices ... during the revaluation period determined in accordance with sub-paragraph (13); and

(b) the maximum revaluation rate.

(13C) The method for determining the percentage increase in the general level of prices ... during the revaluation period determined in accordance with sub-paragraph (13) is—

$$(100×(A÷B))−100$where—A is the level of the retail prices index for March 2004; andB is the level of the retail prices index for the month two months before the month in which the qualifying member attained normal retirement age.$

(13D) In sub-paragraph (13B)(b), “the maximum revaluation rate” in relation to the revaluation period is—

(a) if that period is a period of 12 months, 5%; or

(b) in any other case, the percentage that would be the percentage mentioned in sub-paragraph (13B)(a) had the general level of prices ... increased at the rate of 5% compound per annum during that period.

Survivors of qualifying members

5

(1) This paragraph applies where—

(a) immediately before a qualifying pension scheme began to wind up, a qualifying member—

(i) was entitled to present payment of a pension under the scheme rules and that pension was attributable—

(aa) to the member’s pensionable service; or

(bb) (directly or indirectly) to a pension credit to which the member became entitled under section 29(1)(b) of the Welfare Reform and Pensions Act 1999 (creation of pension debits and credits); or

(ii) was an active member or a deferred member of that scheme;

(b) that member dies on or after the day on which the scheme began to wind up; and

(i) was entitled to an annual payment ..., or

(ii) would have been entitled to such an annual payment had he not died before he became so entitled.

(2) The annual payment payable to the survivor of a qualifying member to whom this paragraph applies shall be determined in accordance with sub-paragraph (3) or (6A).

(3) Except where sub-paragraph (6A) applies, the annual payment payable to a survivor shall be—

$expected pension×0.92+H−A;$

Exclusion of certain benefits

6

(1) No account shall be taken of the benefits specified in sub-paragraph (2) when determining, for the purposes of this Schedule—

(a) the assets available to be used to discharge a liability of a qualifying pension scheme;

(b) the liabilities of such a scheme; and

(2) The specified benefits are—

(a) money purchase benefit; and

(b) benefits derived from the payment of voluntary contributions where, on the winding up of the scheme, the assets of the scheme have first been applied to satisfy liabilities in respect of those benefits; ...

(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Cap on expected pension and actual pension

7

(1) Where the amount of a qualifying member’s expected pension determined in accordance with the previous provisions of this Schedule multiplied by 0.9 exceeds the FAS cap—

(a) the amount of the annual payment payable to, or in respect of, that member under paragraphs 3 to 5B shall be determined on the basis that the product of that calculation was the amount of the FAS cap; and

(b) the expected pension for the purposes of paragraph (b)(i) in the definition of “underlying rate” in paragraph 9 shall be the amount of the FAS cap;

(2) Where the amount of a qualifying member's actual pension determined in accordance with paragraph 2 exceeds—

(a) the amount of a qualifying member's expected pension determined in accordance with the previous provisions of this Schedule multiplied by 0.9 ...; or

(b) the FAS cap,

no annual payment shall be payable to, or in respect of, that member.

(3) Except where sub-paragraph (5) applies, in this paragraph the standard amount is—

(a) where the beneficiary became entitled to an annual payment before 1st April 2007, £26,000;

(b) where the beneficiary became entitled to an annual payment in the period beginning on 1st April 2007 and ending on 31st March 2008, £26,936;

(c) where the beneficiary became entitled to an annual payment in the period beginning on 1st April 2008 and ending on 31st March 2009, £27,987;

(d) where the beneficiary became entitled, or becomes entitled, to an annual payment in the period beginning on 1st April 2009 and ending on 31st March 2010, £29,386; ...

(e) where the beneficiary becomes entitled to an annual payment in the period beginning on 1st April 2010 and ending on 31st March 2011, £29,386; and

(f) where the beneficiary becomes entitled to an annual payment after 31st March 2011, the amount determined in accordance with sub-paragraph (4).

(4) For each successive period of 12 months from 1st April 2011, the standard amount shall be—

(a) where paragraph (b) does not apply, the amount of the standard amount for the previous period of 12 months increased by the percentage increase in the general level of prices for the period of 12 months ending on the 30th September falling within that previous period of 12 months; or

(b) where there is no such percentage increase, the amount of the standard amount for the previous period of 12 months.

(5) Where a qualifying member dies on or after the day on which that qualifying member became entitled to an annual payment, “the FAS cap” for the purposes of determining the amount of the annual payment payable to a survivor or a surviving dependant of that qualifying member under paragraph 5 or 5B is the amount which was determined in accordance with regulation 17AA (meaning of “the FAS cap”) for the purposes of determining the amount of the annual payment payable to that qualifying member.

(6) Where the amount of the standard amount determined in accordance with sub-paragraph (3)(f) results in a fraction of a pound, that fraction shall be treated as a pound.

De minimis rule

8

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

Revaluation

9

(1) Except where there is no percentage increase in the general level of prices for the period of 12 months ending with 31st May last falling before the indexation date, a beneficiary entitled to an annual amount determined in accordance with paragraphs 2A to 5B shall be entitled, on the indexation date, to an increase of—

(a) the appropriate percentage of the amount of the underlying rate immediately before that date, or

(b) where the beneficiary first became entitled to an annual payment during the period of 12 months ending immediately before that date, one twelfth of that amount for each full month since the date on which the annual payment was first payable.

(2) In this paragraph—

“appropriate percentage” means the lesser of—the percentage increase in the general level of prices for the period of 12 months ending with the 31st May last falling before the indexation date; and2.5%;

“underlying rate” means—the aggregate of—the product of X multiplied by so much of the expected pension as is attributable to post-1997 service;where—the beneficiary is a survivor or a surviving dependant of a qualifying member; andthat qualifying member dies on or after the day on which that qualifying member became entitled to an annual payment,the product of X multiplied by W; andany annual increases to which the beneficiary is entitled in accordance with sub-paragraph (1) immediately before the indexation date; orwhere paragraph 7(1) applies, the aggregate of—so much of the expected pension as is, proportionately, attributable to post-1997 service; andany annual increases to which the beneficiary is entitled in accordance with sub-paragraph (1) immediately before the indexation date;

“post-1997 service” means—pensionable service (whether actual or notional) which occurs on or after 6th April 1997; orwhere the annual payment is payable to, or in respect of, a qualifying member who is, or was, a pension credit member of the scheme, pension credit rights deriving from rights attributable to service (whether actual or notional) which occurred on or after 6th April 1997;

“W” means the amount of any annual increases to which the qualifying member was entitled in accordance with sub-paragraph (1) on ... the day on which the qualifying member died;

“X” means—0.9, where the beneficiary is the qualifying member;0.45, where the beneficiary is a survivor who is not a survivor to whom paragraph 5(6A) applies;the product of 0.45 divided by Y, where the beneficiary is a survivor to whom paragraph 5(6A) applies;the product of 0.9 divided by Z, where the beneficiary is a surviving dependant and the qualifying member does not have a survivor; orthe product of 0.45 divided by Z, where the beneficiary is a surviving dependant and an annual payment is also payable to a survivor of the qualifying member;

“Y” means the number of survivors of the qualifying member; and

“Z” means—where there is only one surviving dependant, 2; orwhere there is more than one surviving dependant, the number of surviving dependants of the qualifying member.

(3) In any case where the scheme manager is satisfied, having regard to the information available, that it is not possible for the scheme manager to determine the amount of expected pension which is attributable to post-1997 service for the purposes of this paragraph, the scheme manager shall determine that amount, having regard to such matters as the scheme manager considers relevant.

Initial payments

10

The preceding provisions of this Schedule shall apply for the purposes of determining the amount of an initial payment with the following modifications—

(a) for paragraph 2, substitute—

(2) (1) In this Schedule, “interim pension” means, subject to sub-paragraphs (2) and (3), the annual rate of pension that was in payment, is in payment, or is proposed to be paid, to a qualifying member, or to a survivor or surviving dependant of that qualifying member, from the assets of the qualifying pension scheme of which that qualifying member is, or was, a member— (a) on or after the time when the scheme began to wind up; but (b) before the day on which the scheme’s liabilities to or in respect of the qualifying member are, or were, discharged. (2) Where— (a) the annual rate of pension referred to in sub-paragraph (1)— (i) was or is in payment, and (ii) was determined following commutation, after the day on which the qualifying pension scheme began to be wound up, of some of the benefits deriving from the scheme to which that qualifying member is entitled, that annual rate shall be redetermined on the basis that there was no such commutation; and (b) the annual rate of pension referred to in sub-paragraph (1) is proposed to be paid, that annual rate shall be determined on the basis that there has been no commutation of benefits after the day on which the scheme began to be wound up. (3) Where the scheme manager is satisfied that it is not possible for it to determine the annual rate of pension for the purposes of sub-paragraph (1) having regard to the information available to it, it shall determine the annual rate of pension on the basis of that portion of the assets of the qualifying pension scheme (of which the qualifying member is, or was, a member) provisionally allocated to the member by the trustees or managers, or survivor or surviving dependant of that member— (a) on or after the time when the scheme began to wind up; but (b) before the day on which the scheme’s liabilities in respect of the qualifying member are, or were, discharged, and such other matters as the scheme manager considers relevant.

(b) for “actual pension”, in each place, substitute “interim pension”;

(ba) for “regulation 17(2), (3) or (3C) or 17C” in each place, substitute “regulation 18(4)”;

(ca) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d) for “annual payment”, in each place that it occurs (except in paragraph 1(1)), substitute “initial payment”; and

(e) in paragraph 5—

(i) for sub-paragraph (3) substitute—

(3) The initial payment payable to a survivor of a qualifying member shall be— $(expected pension x 0.9)2 - interim pension payable to that survivor.$

; and

(ii) for sub-paragraph (4) substitute—

(4) In sub-paragraph (3), “expected pension” shall, subject to sub-paragraph (5), be the sum of— (a) the amount determined— (i) where the qualifying member was entitled to a present payment of a pension under the scheme rules on the day before the day on which the qualifying pension scheme began to be wound up, in accordance with paragraph 3(3); or (ii) where the qualifying member was an active member or a deferred member of a qualifying pension scheme on the day before the day on which the qualifying pension scheme began to be wound up, in accordance with sub-paragraph (7); and (b) the product of the aggregate of any annual increases determined in accordance with paragraph 9 to which the qualifying member was entitled on ... the day on which the qualifying member died divided by 0.9.

Rounding

11

Where the amount of an annual payment or an initial payment determined in accordance with this Schedule results in a fraction of a penny, that fraction shall be treated as a penny.

Signed

Signed by authority of the Secretary of State for Work and Pensions.

Philip A. Hunt — Parliamentary Under-Secretary of State, — Department for Work and Pensions — 2005-07-19

Explanatory note

(This note is not part of the Regulations)

Footnotes

[^f00001]: 2004 c. 35.

[^f00002]: Section 286 is modified in relation to multi-employer schemes by S.I.2005/441. Section 318(1) is cited because of the meaning ascribed to the words “modifications”, “prescribed” and “regulations”.

[^f00003]: The Act is modified in its application to partially guaranteed pension schemes by S.I.2005/277, in its application to multi-employer schemes by S.I. 2005/441 and in its application to hybrid schemes by S.I.2005/449.

[^f00004]: S.I.2005/255 (N.I.1). The Northern Ireland Order is modified in its application to partially guaranteed pension schemes by S.R.2005/55, in its application to hybrid schemes by S.R.2005/84 and in its application to multi-employer schemes by S.R.2005/91.

[^f00005]: 1993 c. 48.

[^f00006]: 1995 c. 26.

[^f00007]: 2000 c. 8.

[^f00008]: 1988 c. 1.

[^f00009]: Sections 590 and 591 are amended by the Finance Act 1988 (c. 39), section 35 and Schedule 3, the Finance Act 1989 (c. 26), sections 75 and 187 and Schedules 6 and 17, the Finance Act 1991 (c. 31), sections 34, 36 and 123 and Schedule 19, the Finance Act 1994 (c. 9), section 107, the Finance Act 1995 (c. 4), section 59 and the Finance Act 1999 (c. 16), section 79 and Schedule 10.

[^f00010]: 1999 c. 30.

[^f00011]: 1992 c. 4.

[^f00013]: Section 38 is amended by the Welfare Reform and Pensions Act 1999, Schedule 12, paragraph 50.

[^f00014]: Section 11 is amended by section 22 of the Act.

[^f00015]: Section 611(3) is amended by the Finance Act 1999, section 79 and Schedule 10 and by the Finance Act 2000 (c. 17), section 61 and Schedule 13.

[^f00016]: 1972 c. 11.

[^f00017]: S.I.1972/1073 (N.I.10).

[^f00018]: 1987 c. 45.

[^f00019]: 1998 c. 47.

[^f00020]: 1965 c. 18 (N.I.).

[^f00022]: Section 611A is inserted by the Finance Act 1989 (c. 26), section 75 and Schedule 6, paragraph 15 and amended by the Finance Act 1999, section 52(1) and Schedule 5, paragraph 5.

[^f00023]: Section 9 is amended by the 1995 Act, section 136(3) and (4), Schedule 5, paragraphs 21 and 24 and by the Social Security Contributions (Transfer of Functions) Act 1999 (c. 2), Schedule 1, paragraph 35.

[^f00024]: Section 615(6) has effect in relation to trust based occupational pension schemes established in respect of persons wholly employed in a trade or undertaking outside of the United Kingdom. It was amended by the Finance Act 1999, section 79 and Schedule 10.

[^f00026]: 1993 c. 10.

[^f00027]: 1964 c. 33 (N.I.).

[^f00028]: 1992 c. 52.

[^f00029]: S.I.1992/807 (N.I.5).

[^f00030]: 1985 c. 6. Section 652A is inserted by the Deregulation and Contracting Out Act 1994 (c. 40), section 13(1) and Schedule 5, paragraph 2.

[^f00031]: S.I.1986/1032 (N.I.6). Article 603A is inserted by the Deregulation and Contracting Out Act 1994, section 13(2) and Schedule 6, paragraph 2.

[^f00032]: Seealso Article 105(12).

[^f00033]: Sections 652 and 652A are applied to limited liability partnerships by the Limited Liability Partnerships Regulations 2001 (S.I.2001/1090).

[^f00034]: Articles 603 and 603A are applied to limited liability partnerships by the Limited Liability Partnerships Regulations (Northern Ireland) 2004 (S.R.2004/307).

[^f00035]: 1986 c. 53.

[^f00036]: 1992 c. 40.

[^f00037]: 1965 c. 12.

[^f00038]: 1969 c. 24 (N.I.).

[^f00039]: 2002 c. 40.

[^f00040]: 1986 c. 45.

[^f00041]: S.I.1989/2405 (N.I.19).

[^f00042]: 1979 c. 34.

[^f00043]: S.I.1985/1205 (N.I.12).

[^f00044]: 1954 c. 33 (N.I.). Section 1(f) is amended by the Northern Ireland (Modification of Enactments No.1) Order 1999 (S.I.1999/663), Article 2(1) and Schedule 1, paragraph 9(1).

[^f00045]: Section 7 is amended by the Act, Schedule 12, paragraph 36. Section 23 is substituted by section 36(3) of the Act.

[^f00046]: 1992 c. 4.

[^f00047]: Paragraph 2 is modified by paragraph 10(a) of Schedule 2.

[^f00048]: 1999 c. 30.

[^f00049]: Section 55 is repealed in part and amended by the 1995 Act, sections 141 and 151 and Schedule 5, paragraph 50.

Editorial notes

[^c1313028]: 2004 c. 35.

[^c1313029]: Section 286 is modified in relation to multi-employer schemes by S.I.2005/441. Section 318(1) is cited because of the meaning ascribed to the words “modifications”, “prescribed” and “regulations”.

[^c1313030]: The Act is modified in its application to partially guaranteed pension schemes by S.I.2005/277, in its application to multi-employer schemes by S.I. 2005/441 and in its application to hybrid schemes by S.I.2005/449.

[^c1313031]: S.I.2005/255 (N.I.1). The Northern Ireland Order is modified in its application to partially guaranteed pension schemes by S.R.2005/55, in its application to hybrid schemes by S.R.2005/84 and in its application to multi-employer schemes by S.R.2005/91.

[^c1313032]: 1993 c. 48.

[^c1313033]: 1995 c. 26.

[^c1313034]: 2000 c. 8.

[^c1313035]: 1988 c. 1.

[^c1313036]: Sections 590 and 591 are amended by the Finance Act 1988 (c. 39), section 35 and Schedule 3, the Finance Act 1989 (c. 26), sections 75 and 187 and Schedules 6 and 17, the Finance Act 1991 (c. 31), sections 34, 36 and 123 and Schedule 19, the Finance Act 1994 (c. 9), section 107, the Finance Act 1995 (c. 4), section 59 and the Finance Act 1999 (c. 16), section 79 and Schedule 10.

[^c1313037]: 1999 c. 30.

[^c1313038]: 1992 c. 4.

[^c1313040]: Section 38 is amended by the Welfare Reform and Pensions Act 1999, Schedule 12, paragraph 50.

[^c1313041]: Section 11 is amended by section 22 of the Act.

[^c1313042]: Section 611(3) is amended by the Finance Act 1999, section 79 and Schedule 10 and by the Finance Act 2000 (c. 17), section 61 and Schedule 13.

[^c1313043]: 1972 c. 11.

[^c1313044]: S.I.1972/1073 (N.I.10).

[^c1313045]: 1987 c. 45.

[^c1313046]: 1998 c. 47.

[^c1313047]: 1965 c. 18 (N.I.).

[^c1313049]: Section 611A is inserted by the Finance Act 1989 (c. 26), section 75 and Schedule 6, paragraph 15 and amended by the Finance Act 1999, section 52(1) and Schedule 5, paragraph 5.

[^c1313051]: Section 615(6) has effect in relation to trust based occupational pension schemes established in respect of persons wholly employed in a trade or undertaking outside of the United Kingdom. It was amended by the Finance Act 1999, section 79 and Schedule 10.

[^c1313053]: 1993 c. 10.

[^c1313054]: 1964 c. 33 (N.I.).

[^c1313055]: 1992 c. 52.

[^c1313056]: S.I.1992/807 (N.I.5).

[^c1313057]: 1985 c. 6. Section 652A is inserted by the Deregulation and Contracting Out Act 1994 (c. 40), section 13(1) and Schedule 5, paragraph 2.

[^c1313058]: S.I.1986/1032 (N.I.6). Article 603A is inserted by the Deregulation and Contracting Out Act 1994, section 13(2) and Schedule 6, paragraph 2.

[^c1313059]: Seealso Article 105(12).

[^c1313060]: Sections 652 and 652A are applied to limited liability partnerships by the Limited Liability Partnerships Regulations 2001 (S.I.2001/1090).

[^c1313061]: Articles 603 and 603A are applied to limited liability partnerships by the Limited Liability Partnerships Regulations (Northern Ireland) 2004 (S.R.2004/307).

[^c1313062]: 1986 c. 53.

[^c1313063]: 1992 c. 40.

[^c1313066]: 2002 c. 40.

[^c1313067]: 1986 c. 45.

[^c1313068]: S.I.1989/2405 (N.I.19).

[^c1313069]: 1979 c. 34.

[^c1313070]: S.I.1985/1205 (N.I.12).

[^c1313071]: 1954 c. 33 (N.I.). Section 1(f) is amended by the Northern Ireland (Modification of Enactments No.1) Order 1999 (S.I.1999/663), Article 2(1) and Schedule 1, paragraph 9(1).

[^c1313072]: Section 7 is amended by the Act, Schedule 12, paragraph 36. Section 23 is substituted by section 36(3) of the Act.

[^key-e929bd4bb6e92568ffbd2853eb9c12f6]: Words in reg. 2(7) substituted (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(2)(b)(i)

[^key-ec9c43cbd5413c19b2f20e3dc214018c]: Reg. 2(8)(9) added (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(2)(c)

[^key-7ba19c463dff7e36fa90a735f00ddd18]: Word in reg. 2(7) substituted (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(2)(b)(ii)

[^key-d52bdd1a71cbe7d6b1f3577cbbf20467]: Words in reg. 17(3) omitted (24.11.2005) by virtue of The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(3)(a)

[^key-7dcc7c5fa24f2d5ac32a388a0e824a6a]: Words in reg. 17(6) substituted (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(3)(c)

[^key-09d5c39a522e291d960e8071e490ed62]: Reg. 17(7) added (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(3)(d)

[^key-5d545eabd31a66e819a269fe50ac6259]: Reg. 18 substituted (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(4)

[^key-f000193d2a89787f38fe15219aced0ea]: Word in reg. 19(3)(b) substituted (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(5)

[^key-1f8fc6e887fb99d202c98d8f1c5b391f]: Words in Sch. 2 para. 1(2) inserted (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(6)(a)(ii)

[^key-78a214112e951fc0d76682dca65765c9]: Sch. 2 para. 2(3)(a) substituted (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(6)(b)(ii)

[^key-b0b48fdab165304328c2e33c5478d4fd]: Sch. 2 para. 10(d)(e) added (24.11.2005) by The Financial Assistance Scheme (Modifications and Miscellaneous Amendments) Regulations 2005 (S.I. 2005/3256), regs. 1(1), 4(6)(e)(ii)

[^key-e2d9eb63705ade6773e7b5216444d9cc]: Reg. 2(7)(a) applied (29.11.2005) by The Financial Assistance Scheme (Appeals) Regulations 2005 (S.I. 2005/3273), regs. 1(1), 27(3)

[^key-4aed9f7337c6e6057eaa5909a962dfbd]: Words in reg. 2(1) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 3(a)

[^key-c8070136f0beb8ec19600b6e8aafc4d8]: Words in reg. 2(1) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 3(b)

[^key-df37e5a1ad59e1badd0f89f212f048ab]: Words in reg. 2(1) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 3(c)

[^key-9cd9938fd5c6804674c10786fa54470b]: Words in reg. 2(1) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 3(d)

[^key-e6b47222477e77a24eb5badfa18c8679]: Words in reg. 2(1) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 3(e)

[^key-beb67383948da0bafcbd3b9a1e6c4ee5]: Words in reg. 11(2) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(2)

[^key-243c35a933f53d237a2fbe548d677f86]: Reg. 12(1)(a)(b) substituted for reg. 12(1)(a)-(c) (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(3)(a)

[^key-e502f911b57f60c69ae1076df62f8bb5]: Reg. 12(2)(b) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(3)(b)

[^key-96206955def63013925ce0475247eabe]: Words in reg. 12(3)(4) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(3)(c)(i)

[^key-86c807cbe65aa4c23973963b1173cca0]: Word in reg. 12(3)(4) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(3)(c)(ii)

[^key-9ca3003885d7508988c58d9837772bd8]: Words in reg. 12(3)(a)(4)(a) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(3)(c)(iii)

[^key-6e5e465c3ec099852d7f5db9428fdcc0]: Words in reg. 12(5) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(3)(d)(i)

[^key-4ce6d4e380212545782f6a00c0ef2ffe]: Words in reg. 12(5)-(6) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(3)(d)(ii)

[^key-a69b780d6a89356b10190ff78b44d4f7]: Reg. 13(3A) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(4)

[^key-aa55b306bf6445f52eedf9053811c745]: Reg. 13(4A) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(5)

[^key-c0e0ac31534861e7e4c93f518bfb9e76]: Words in reg. 13(6) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 4(6)

[^key-d199f608805bf94b61945cd4f901aff4]: Reg. 17(5A) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 6(1)

[^key-c3e53c2f48f2efd65bc1e55731a94173]: Reg. 18(5A) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 6(2)(d)

[^key-5f592002a13989189133abeeedb38e17]: Reg. 18(9A) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 6(2)(e)

[^key-09db6f020d30136cf0f059402fcf0dca]: Words in Sch. 2 para. 1(2) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(1)(a)

[^key-b36a8af17d09969b41cfe4298244e0b4]: Words in Sch. 2 para. 2(3) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(2)(b)(i)

[^key-9163c2c32bd6fff6635510fb15000cce]: Words in Sch. 2 para. 2(3) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(2)(b)(ii)

[^key-ea50291b34a86e8e646eed2240444f52]: Sch. 2 para. 3(4) added (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(3)(d)

[^key-af35ca239f33e80faecb3a40ca307a99]: Words in Sch. 2 para. 4(3) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(4)(c)

[^key-0bb56c84fc67a958f06de8197cd407fc]: Words in Sch. 2 para. 4(1) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(4)(a)(i)

[^key-1c4300739a5b7fca0b6ab7e930f5ea61]: Sch. 2 para. 5(1) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(5)(a)

[^key-b4df2888edc36a7a8ffc6175fc106d0b]: Word in Sch. 2 para. 6(2)(a) inserted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(6)(a)

[^key-65814a180c1270bdeea0cfe395727d84]: Word in Sch. 2 para. 6(2)(b) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(6)(b)

[^key-d533633fc644aabba8dfc2ba5b486346]: Sch. 2 para. 6(2)(c) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(6)(c)

[^key-cebb312fccfd35659959f4daf27e5749]: Sch. 2 para. 6(3) omitted (16.12.2006) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(6)(c)

[^key-a0a21917af2c02130e54d43adcf3a898]: Sch. 2 para. 10(a) substituted (16.12.2006) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006 (S.I. 2006/3370), regs. 1(1), 7(9)(a)

[^key-501b8ecf18b12473320d43dcbe83f61c]: Reg. 2(5)(6) omitted (19.12.2007) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 3

[^key-5fa8792fc413e8cbc9549bd4e7b54d98]: Reg. 9(1A) inserted (19.12.2007) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(2)

[^key-7aeb0581b7cb31fb6efc3e7bc01b2111]: Reg. 9(1)(ca) inserted (19.12.2007) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(1)(b)

[^key-a7333c21756de9a15f97be9261457659]: Reg. 10(l)(m) substituted for reg. 10(l) (19.12.2007) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(3)

[^key-c45130631f72b5ddfef70109f346a86a]: Words in reg. 11(1) omitted (19.12.2007) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(4)

[^key-93d34f324ca8f03d7135e66b3b61a95f]: Words in reg. 12(1)(2) omitted (19.12.2007) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(4)

[^key-c4c08ebde01aed3f06b318bb5f959493]: Reg. 13(2)(b) omitted (19.12.2007) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(5)(a)

[^key-66b46b9933e2b688c5c15f401cb67448]: Words in reg. 13(3A) omitted (19.12.2007) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(5)(b)

[^key-3f3c5eeeb93cac7ce531011c73c03f59]: Reg. 13(4B) inserted (19.12.2007) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(5)(c)

[^key-33324692900986839cefe05306b0b54f]: Words in reg. 13(4)(4A) omitted (19.12.2007) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 4(4)

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