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(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Perpetuities and Contracting-out) (Amendment) Regulations (Northern Ireland) 2001 and shall come into operation on 6th April 2001.
(2) The Interpretation Act (Northern Ireland) 1954 shall apply to these Regulations as it applies to an Act of the Assembly.
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In regulation 2 of the Personal and Occupational Pension Schemes (Perpetuities) Regulations (Northern Ireland) 1990 (occupational pension schemes to which section 159 of the Act applies)—
(a) in paragraph (3) after “fund” there shall be inserted “to which section 615(3) of the Taxes Act (fund established in connection with foreign trade or undertaking) applies, or”;
(b) in paragraph (5) for the words from “Taxes Act” to “section 604” there shall be substituted “Taxes Act or a personal pension scheme (within the meaning of that Part) so approved for the purposes of Chapter IV of that Part; and where an application has been made for approval (in either such case)”, and
(c) in paragraph (6)—
(i) after “under” there shall be inserted “section 192(3) or”, and
(ii) after “Chapter I” there shall be inserted “or, as the case may be, Chapter IV”.
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In regulation 40 of the Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996 (schemes which may not be contracted-out under section 5(3) of the Act) for the words from “a scheme” to “Taxes Act” there shall be substituted “an occupational pension scheme which is not an exempt approved scheme within the meaning of section 592(1) of the Taxes Act or which is not an approved personal pension scheme under Chapter IV of Part XIV of that Act”.
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Sealed with the Official Seal of the Department for Social Development on 15th March 2001.
John O'Neill
Senior Officer of the
Department for Social Development
