Section 307 — Pensions Act 2004: Modification of this Act in relation to certain categories of schemes

Modification of this Act in relation to certain categories of schemes 307 1 Regulations may modify any of the provisions mentioned in subsection (2) as it applies in relation to—

a hybrid schemes;

b multi-employer schemes;

c any case where a partnership is the employer, or one of the employers, in relation to an occupational pension scheme.

2 The provisions referred to in subsection (1) are those of—

a Part 1 (the Pensions Regulator),

b Part 2 (the Board of the Pension Protection Fund), other than Chapter 1, ba Part 3 (scheme funding),

c sections 257 and 258 (pension protection),

d sections 259 and 261 (consultation by employers),

e section 286 (financial assistance scheme for members of certain pension schemes), ... f . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Regulations may also modify any of the provisions of Part 2 as it applies in relation to an eligible scheme in respect of which a relevant public authority has—

a given a guarantee in relation to any part of the scheme, any benefits payable under the scheme rules or any member of the scheme, or b made any other arrangements for the purposes of securing that the assets of the scheme are sufficient to meet any part of its liabilities.

4 In this section— “ eligible scheme ” has the meaning given by section 126; “ hybrid scheme ” means an occupational pension scheme— which is not a money purchase scheme, but where some of the benefits that may be provided are— money purchase benefits attributable to voluntary contributions of the members, or other money purchase benefits; “ multi-employer scheme ” means an occupational pension scheme in relation to which there is more than one employer; “ relevant public authority ” means—

a Minister of the Crown (within the meaning of the Ministers of the Crown Act 1975 (c. 26)), a government department (including any body or authority exercising statutory functions on behalf of the Crown), or the Scottish Ministers.