Social Welfare and Pensions Act 2011

Amendment of section 55 of Principal Act.

37.— Section 55 of the Principal Act is amended—

(a) in subsection (1A) by inserting “which is not a regulatory own funds trust RAC” after “a small trust RAC”,

(b) in subsection (2)(b) by inserting “other than a small scheme which is a regulatory own funds scheme” after “a small scheme” where it first occurs,

(c) in subsection 2(d) by inserting “other than a small trust RAC which is a regulatory own funds trust RAC” after “a small trust RAC”, and

(d) by inserting the following subsection after subsection (6):

“(7) Subsections (3), (4), (5) and (6) shall not apply to a regulatory own funds scheme.”.