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The Occupational Pension Schemes (Employer Debt) Regulations 2005

Consolidated Text As Enacted Cited authorities 75 Cited in Amendments 19 Related
Vincent
JurisdictionUK Non-devolved
CitationSI 2005/678
Year2005
(1) These Regulations may be cited as the Occupational Pension Schemes (Employer Debt) Regulations 2005.(2) These Regulations come into force on 6th April 2005.any employer in relation to any debt which has arisen under section 75(1) of the 1995 Act to the trustees or managers of the scheme before that date.any scheme which immediately before that date was regarded by virtue of regulation 2 of the Occupational Pension Schemes (Winding Up) Regulations 1996 any scheme which according to the rules in section 124(3A) to (3E) of the 1995 Act (4) These Regulations extend to England and Wales and Scotland.(1) In these Regulations––(2) In these Regulations “scheme” must be read in appropriate cases in accordance with the modifications of section 75 of the 1995 Act made by regulation 8, 14 or 15, as the case may be; and “employer” and “member” must be read accordingly.(3) References in these Regulations to FRC standards are to actuarial standards on winding up and scheme asset deficiency adopted or prepared, and from time to time revised, by the Financial Reporting Council Limited.(3A) For the purposes of a restructuring within regulations 6ZB or 6ZC—
  • “exiting employer” means an employer—
    • (a) in relation to a multi-employer scheme,
    • (b) who employs at least one active member of the scheme in respect of whom defined benefits are accruing, and
    • (c) in respect of whom a relevant event has not occurred; and
  • “receiving employer” means an employer who, on the date on which there is a restructuring within regulation 6ZB or 6ZC, is—
    • (a) an employer in relation to the same multi-employer scheme as the exiting employer,
    • (b) either—
      • (i) associated (within the meaning in section 435 of the Insolvency Act 1986 or section 74 of the Bankruptcy (Scotland) Act 1985) with the exiting employer, or
      • (ii) F136not associated but falls within paragraph (3B) ,
    • (c) employing at least one active member of the scheme in respect of whom defined benefits are accruing, and
    • (d) an employer in respect of whom a relevant event has not occurred.
a limited company, limited partnership or limited liability partnership;a charitable company; ora CIO.in relation to England and Wales, has the meaning given by section 193 of the Charities Act 2011(“the 2011 Act”) ; andin relation to Scotland, has the meaning given by section 112 of the Companies Act 1989;in relation to England and Wales, means a charitable incorporated organisation within the meaning of Part 11 of the 2011 Act; andin relation to Scotland, means a Scottish charitable incorporated organisation within the meaning of section 49 of the Charities and Trustee Investment (Scotland) Act 2005;“limited company” has the meaning given by section 3(1) of the Companies Act 2006Act;“limited liability partnership” has the meaning given by section 1(2) of the Limited Liability Partnerships Act 2000; and“limited partnership” has the meaning given by section 4 of the Limited Partnerships Act 1907.(3D) Where regulation 6F(6) (f) applies, the definitions of “exiting employer” and “receiving employer” in paragraph (3A) shall be deemed to include deferred employers.(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .when the arrangement takes effect, the remaining employers will be reasonably likely to be able to fund the scheme so that after the applicable time F98(or, in the case of a flexible apportionment arrangement, after the time that arrangement takes effect) it will have sufficient and appropriate assets to cover its technical provisions, taking account of any change in those provisions which will in the opinion of the trustees or managers be necessary as a result of the arrangement, and

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