European Parliament (Pay and Pensions) Act 1979

6 Provision for payment of block transfer value into another pension scheme. U.K.

(1) F1 . . . The [F2 IPSA may, with the consent of the Treasury and the Minister for the Civil Service] direct that, on a specified date, there shall be paid into or for the purposes of a specified overseas fund or scheme a specified sum representing the aggregate value on that date of the accrued pension rights of all Representatives and other persons under the relevant pension provisions, excluding (if [F3 the direction] so provides) those of persons of any specified class.

(2) Before [F4 giving a direction] under this section the [F5 IPSA] shall consult with—

(a) the managers appointed under the relevant pension provisions; and

(b) such persons representing the interests of Representatives and other persons having pension rights under the relevant pension provisions as [F6 it] considers appropriate,

and shall not [F7 give such a direction] unless [F6 it] has been informed by or on behalf of the persons administering the overseas fund or scheme in question that they are willing to accept the sum proposed to be specified in [F8 the direction].

(3) For the purposes of this section the aggregate value on any date of the accrued pension rights mentioned in subsection (1) shall be taken to be such sum as for those purposes may be certified by the Government Actuary.

(4) In this section—

• “overseas fund or scheme” means a fund or scheme which is established outside the United Kingdom or wholly or primarily administered outside the United Kingdom and which is approved by the Commissioners of Inland Revenue F9 . . . for the purposes of this section;

• “the relevant pension provisions”, in relation to [F10 a direction] under this section, means all such provisions contained in [F11 a scheme] made under section 4 as are in force when the [F12 direction is given].

Textual Amendments

F1 Words in s. 6(1) repealed (27.12.1995) by S.I. 1995/2995, art. 2(3) (with art. 3)

F2 Words in s. 6(1) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(2)(a); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F3 Words in s. 6(1) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(2)(b); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F4 Words in s. 6(2) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(3)(a); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F5 Words in s. 6(2) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(3)(b); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F6 Words in s. 6(2) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(3)(c); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F7 Words in s. 6(2) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(3)(d); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F8 Words in s. 6(2) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(3)(e); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F9 Words in s. 6(4) repealed (6.4.1997) by 1995 c. 26, ss. 151, 177, Sch. 5 para. 7, Sch. 7 Pt. III; S.I. 1997/664, art. 2, Sch. Pt. II

F10 Words in s. 6(4) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(4)(a); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F11 Words in s. 6(4) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(4)(b); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)

F12 Words in s. 6(4) substituted (1.11.2013) by Constitutional Reform and Governance Act 2010 (c. 25), s. 52, Sch. 6 para. 39(4)(c); S.I. 2013/2826, art. 2(b)(ii) (with art. 3)