Statutory Instruments
2006 No. 935
PENSIONS
The Occupational Pension Schemes (Levies) (Amendment) Regulations 2006
Made
28th March 2006
Coming into force
1st April 2006
These Regulations are made in exercise of the powers conferred by sections 117(1) and (3), 126(1)(b), 181(8)(a), 209(7) and (8), 315(2) and 318(1) of the Pensions Act 2004( 1 ).
In accordance with section 117(4) of that Act the Secretary of State for Work and Pensions has consulted the Board of the Pension Protection Fund( 2 ).
In accordance with section 317(1) of that Act the Secretary of State for Work and Pensions has consulted such persons as he considers appropriate.
In accordance with section 316(2)(a) and (g) of that Act a draft of this instrument was laid before Parliament and approved by a resolution of each House of Parliament.
Accordingly the Secretary of State for Work and Pensions makes the following Regulations:
Citation, commencement and interpretation
1. —(1) These Regulations may be cited as the Occupational Pension Schemes (Levies) (Amendment) Regulations 2006 and shall come into force on 1st April 2006.
(2) In these Regulations “the Levies Regulations” means the Occupational Pension Schemes (Levies) Regulations 2005( 3 ).
Amendment of the Levies Regulations
2. —(1) The Levies Regulations shall be amended in accordance with this regulation.
(2) In paragraph (4) of regulation 4 (liability for the levies)—
(a) for “year” substitute “years”; and
(b) after “31st March 2006” insert “and 31st March 2007”.
(3) In regulation 5 (the reference day)—
(a) in paragraphs (2) and (3), in both places—
(i) for “years” substitute “year”; and
(ii) omit “and 1st April 2006”; and
(b) in paragraph (4), for “1st April 2007” substitute “1st April 2006”.
(4) In paragraph (2) of regulation 6 (the amount payable)—
(a) for “year” substitute “years”; and
(b) after “31st March 2006” insert “and 31st March 2007”.
(5) In regulation 13 (meaning of “the levies” in Part 4)—
(a) in paragraph (1), after “the administration levy,” insert “the pension protection levy,”; and
(b) in paragraph (2), after “14(3)” add “or, as the case may be, 15(7)”.
(6) In paragraph (3) of regulation 14 (attribution of payments in respect of levies), omit “any pension protection levy and”.
(7) After paragraph (6) of regulation 15 (multi-employer schemes) add—
“ (7) This regulation does not apply to any pension protection levy. ” .
(8) In paragraph (4) of regulation 18 (avoidance of double liability: schemes in Northern Ireland)—
(a) in sub-paragraph (b), for “, and” substitute “;”; and
(b) in sub-paragraph (c), after “regulation 9” insert—
“ ; and
(d) in the case of the pension protection levy, if it is imposed under any equivalent provision to section 175 of the 2004 Act ” .
Signed by authority of the Secretary of State for Work and Pensions.
Stephen C. Timms
Minister of State,
Department for Work and Pensions
28th March 2006
2004 c. 35 . Section 126 is modified in its application to multi-employer schemes by S.I. 2005/441 , amended by S.I. 2005/993 and 2113 . Section 318(1) is cited because of the meaning there given to “prescribed” and “regulations”.
The Board of the Pension Protection Fund is established by section 107 of the Pensions Act 2004.
S.I. 2005/842 .