Legislation – The Police Pensions (Remediable Service) Regulations 2023
Changes to legislation:
There are currently no known outstanding effects for The Police Pensions (Remediable Service) Regulations 2023, Section 61.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Part 9Liabilities and payment
Chapter 2Interest, compensation and netting off
Netting off61.
(1)
This regulation applies where—
(a)
relevant amounts owed by and to a person (“P”) fall to be paid at the same time or similar times, and
(b)
the scheme manager has—
(i)
determined the interest (if any) that is to be paid in the relevant amounts in accordance with regulation 58, and
(ii)
reduced the relevant amounts by tax relief amounts in accordance with regulation 62.
(2)
The scheme manager may determine, in accordance with direction 19(2) to (5) of the PSP Directions 2022, that the relevant amounts (and any interest on them) must be aggregated and that the difference must be paid by P to the scheme or (as the case may be) by the scheme to P.
(3)
The following provisions of the PSP Directions 2022 apply to a determination under paragraph (2) as if it were a determination under direction 19(1) of those Directions—
(a)
direction 19(6) F1(provision of explanation);
(b)
direction 19(7) and (8) (appeals).