Social Welfare and Pensions Act 2011

Amendment of section 41 of Principal Act.

28.— Section 41 of the Principal Act is amended by substituting the following paragraph for paragraph (a) of subsection (2):

“(a) this Part shall apply to—

(i) a defined contribution scheme which is a regulatory own funds scheme,

(ii) a defined contribution scheme which is paying benefits to or in respect of members where those benefits are not secured under a policy or policies of assurance with one or more undertakings, and

(iii) a small scheme of the type referred to in paragraph (b) of subsection (1) which is a regulatory own funds scheme,”.