Legislation – Public Service Pensions and Judicial Offices Act 2022
Changes to legislation:
There are currently no known outstanding effects for the Public Service Pensions and Judicial Offices Act 2022, Section 119.
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PART 2Pensions and Banking (Special Provisions) Act 2008 Bodies
Supplementary
119Regulations
(1)
The Treasury must consult the relevant trustees before making—
(a)
regulations under section 111 which establish a new public scheme or transfer qualifying accrued rights to a new public scheme, or
(b)
regulations under section 115 which make provision for the transfer of assets or liabilities.
(2)
In this section, “the relevant trustees” are—
(a)
the trustees of the BBS Pension Scheme, where the regulations affect—
(i)
persons who are members of that scheme, or
(ii)
persons who have survived a member of that scheme and who have an entitlement to benefits, or a right to future benefits, under the scheme in respect of the member;
(b)
the trustees of the NRAM Pension Scheme, where the regulations affect—
(i)
persons who are members of that scheme, or
(ii)
persons who have survived a member of that scheme and who have an entitlement to benefits, or a right to future benefits, under the scheme in respect of the member.
(3)
Regulations under section 111 are subject to the affirmative procedure if—
(a)
(b)
the regulations make provision which has retrospective effect.
(4)
Regulations under section 118(1) are subject to the affirmative procedure if they make provision about the amount of a financial penalty.
(5)
A statutory instrument containing regulations under section 117 is subject to annulment in pursuance of a resolution of the House of Commons.
(6)
Any other regulations under this Part are subject to the negative procedure.