Retirement Benefits Schemes (Miscellaneous Amendments) RETIREMENT BENEFITS SCHEMES (MISCELLANEOUS AMENDMENTS) REGULATIONS 2014

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1 Retirement Benefits Shemes (Misellaneous Amendments) Index RETIREMENT BENEFITS SCHEMES (MISCELLANEOUS AMENDMENTS) REGULATIONS 2014 Index Regulation Page 1 Title Commenement Amendment of the Retirement Benefits Shemes (Management and Misellaneous Provisions) Regulations Amendment of the Retirement Benefits Shemes (Exepted Shemes) Regulations Amendment of the Retirement Benefits Shemes (International Shemes) Regulations Amendment of the Retirement Benefits Shemes (Domesti Shemes) (General Administration) Regulations Amendment of the Retirement Benefits Shemes (Reognised Shemes) (United Kingdom) Order Amendment of the Retirement Benefits Shemes (Permitted Shemes) Regulations Amendment to the Retirement Benefits Shemes (General Register) Regulations EXPLANATORY NOTE 17 SD 2014/0049 Page 1

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3 Retirement Benefits Shemes (Misellaneous Amendments) Regulation 1 Statutory Doument No. 2014/0049 Retirement Benefits Shemes At 2000 RETIREMENT BENEFITS SCHEMES (MISCELLANEOUS AMENDMENTS) REGULATIONS 2014 Approved by Tynwald: Coming into Operation: 1 August 2014 The Treasury, after onsulting with the Insurane and Pensions Authority and suh other organisations and persons as appear to it to be likely to be affeted by the making of these Regulations, makes the following Regulations under setions 1, 6, 18, 21, 24, 36, 51 and 53 of the Retirement Benefits Shemes At Title These Regulations are the Retirement Benefits Shemes (Misellaneous Amendments). 2 Commenement If approved by Tynwald 1 these Regulations ome into operation on 1 August Amendment of the Retirement Benefits Shemes (Management and Misellaneous Provisions) Regulations 2001 (1) The Retirement Benefits Shemes (Management and Misellaneous Provisions) Regulations are amended as follows. (2) In regulation 2 for setion 34 of the Insurane At 1986; substitute «setion 54 of the Insurane At 2008;». (3) In regulation 7(2) for War Pensions Committees Regulations 1990 as applied to the Isle of Man by the Soial Seurity Legislation (Appliation) (No.5) Order 1992 substitute «Isle of Man War Pensions Committee Regulations ». 1 As required by setion 51(5) of the Retirement Benefits Shemes At SD 647/01 (as amended by SD 596/04 and SD 63/06) 3 SD 378/02 (as amended by SD 885/04, SD 728/06 and SD 137/07) SD 2014/0049 Page 3

4 Regulation 4 Retirement Benefits Shemes (Misellaneous Amendments) (4) After regulation 8 add «9 Changes of trustee or administrator For the purpose of setion 18(A1) of the At (requirement for the submission of presribed partiulars on the appointment of a diretor, hief exeutive, manager or ontroller of a trustee or administrator) the presribed partiulars are () the full name of the person to be appointed; the full postal address of the person to be appointed; and the position to be oupied by the person to be appointed (diretor, hief exeutive, manager or ontroller).». 4 Amendment of the Retirement Benefits Shemes (Exepted Shemes) Regulations 2001 (1) The Retirement Benefits Shemes (Exepted Shemes) Regulations are amended as follows. (2) In regulation 2 for the definition of the 1986 At substitute «the 2008 At means the Insurane At 2008;»; and for the definition of Exempt insurane ompany ontrat substitute «exempted insurane ompany ontrat means any ontrat (within the meaning of the 2008 At) whih is provided by a ompany authorised under setion 8 of the 2008 At; and is not a ontrat whih is, or forms part of, an arrangement whih is or was formerly registered as an authorised sheme under setion 3 of the At; international retirement benefits sheme has the same meaning as in regulation 2 of the Retirement Benefits Shemes (International Shemes) Regulations 2001;». (3) For regulation 3(1) substitute «(1) For the purpose of setion 53 of the At, in the definition of retirement benefits shemes, the presribed lasses of shemes (shemes or arrangements whih are not retirement benefits shemes for the purpose of the At) inlude 4 SD 646/01 (as amended by SD 597/04 and SD 63/06) Page 4 SD 2014/0049

5 Retirement Benefits Shemes (Misellaneous Amendments) Regulation 4 exempted insurane ompany ontrats whih, exept for this sub-paragraph, would qualify as an international retirement benefits sheme; a trust whose property onsists wholly of exempted insurane ompany ontrats whih, exept for this subparagraph, would qualify as an international retirement benefits sheme; () any annuity ontrat effeted with a person (d) (e) (f) (g) (ii) authorised under setion 8 of the 2008 At; or in reeipt of a Part 4A permission to effet or arry out ontrats of insurane under the Finanial Servies and Markets At 2000 (of Parliament): provided that, the annuity ontrat is used solely for the purpose of seuring relevant benefits; any arrangement established by an individual on that individual s own life in whih the only benefits provided are death benefits under a poliy of insurane; any ontrat that is approved under setion 49 or 49A of the Inome Tax At 1970; any arrangement whose sole purpose is to failitate the immediate seuring of relevant benefits, provided that (ii) it is effeted with a person speified in subparagraph () or ()(ii); and the only benefits provided are annuity benefits or lump sum benefits or both; and with effet from 1 April 2015, any deed, agreement or arrangement made solely for the purpose of establishing an employer-finaned retirement benefits sheme (as defined in setion 393A of the Inome Tax (Earnings and Pensions) At 2003 (of Parliament)) by an employer resident in the United Kingdom, whih (ii) (iii) has in aordane with the requirements of setion 251 of the Finane At 2004 (of Parliament) and the Employer-Finaned Retirement Benefits Shemes (Provision of Information) Regulations been reported to Her Majesty s Revenue and Customs; is not registered under Chapter 2 of Part 4 of the Finane At 2004 (of Parliament) as a registered pension sheme; is not a sheme whih is bona fide established for the sole or in the ase of an international retirement 5 SI 2005 No SD 2014/0049 Page 5

6 Regulation 5 Retirement Benefits Shemes (Misellaneous Amendments) (iv) benefits sheme, prinipal purpose of providing relevant benefits in respet of servie as an employee, being benefits payable to, or to the widow, hildren or dependants or personal representatives of, the employee; and is not approved by the Assessor of Inome Tax for the purpose of (A) setion 50B or 50C of the Inome Tax At 1970; (B) setion 1 or 2 of the Inome Tax (Retirement Benefit Shemes) At 1978; or (C) Part 1 of the Inome Tax At 1989.». (4) In regulation 3(2) for War Pensions Committees Regulations 1990 as applied to the Isle of Man by The Soial Seurity Legislation (Appliation) (No. 5) Order 1992, and any regulations replaing or amending them. substitute «Isle of Man War Pensions Committee Regulations ». 5 Amendment of the Retirement Benefits Shemes (International Shemes) Regulations 2001 (1) The Retirement Benefits Shemes (International Shemes) Regulations are amended as follows. (2) In regulation 2 for the definition of the 1986 At substitute «the 2008 At means the Insurane At 2008;»; and in the definition of investment business, for Investment Business At 1991 substitute «Finanial Servies At 2008». (3) In regulation 7(2) for sub-paragraph () substitute «() is not a Fellow of the Institute and Faulty of Atuaries or a person who has otherwise satisfied the Supervisor that the person holds qualifiations equivalent to those required for membership of that body;». (4) In regulation 13(1)() for the 1986 At, substitute «the 2008 At,». (5) In regulation 13(14) in the definition of aepted insurane ompany for paragraphs and substitute «authorised under setion 8 of the 2008 At; holds a permit issued under setion 22 of the 2008 At; or». 6 SD 378/02 (as amended by SD 885/04, SD 728/06 and SD 137/07) 7 SD 645/01 (as amended by SD 664/02, 589/04 and 63/06) Page 6 SD 2014/0049

7 Retirement Benefits Shemes (Misellaneous Amendments) Regulation 5 (6) In regulation 13(14) in the definition of aepted investment sheme for paragraphs and substitute «a olletive investment sheme authorised under paragraph 2 of Shedule 1 to the Colletive Investment Shemes At 2008 or a olletive investment sheme authorised (or having effet as if authorised) under setion 243 of the Finanial Servies and Markets At 2000 (of Parliament) or under regulation 14 of the Open-Ended Investment Companies Regulations (made under that At) or reognised under setion 264, 270 or 272 of that At, or». (7) In regulation 13(14) in the definition of employer-related investments, from Building Soiety to or the Banking At 1998 inlusive, substitute «deposit-taking institution whih is liensed under setion 7 of the Finanial Servies At 2008 or an organisation whih has satisfied the Supervisor that it is authorised to aept deposits under legislation equivalent to the Finanial Servies At 2008». (8) For regulation 15 substitute «15 Transfer payments and early leaver rights (1) Subjet to paragraph (2), sheme rules must provide that if a member has vested arued rights under any arrangement under a sheme whih have not ome into payment, the member is entitled to transfer those rights in aordane with the provisions of this regulation. (2) Paragraph (1) applies only in respet of an oupational sheme if the member has eased to be an ative member. (3) The value of a member s transfer must in respet of money purhase benefits whih do not fall to be valued in a manner whih involves making estimates of the value of those benefits, be alulated and verified by the trustee as the realisable value of the investments onstituting the member s arued rights; and in respet of any other benefits, be alulated and verified in suh manner as may be approved by a relevant atuary. (4) Subjet to paragraph (12), any member who is entitled to transfer that member s arued rights may transfer those rights only by making an appliation in writing to the sheme trustee direting the trustee to use the transfer to 8 SI 2001/1228 (as amended by SI 2011/1613) SD 2014/0049 Page 7

8 Regulation 5 Retirement Benefits Shemes (Misellaneous Amendments) () purhase a ontrat or ontrats from one or more insurane ompanies, whih satisfy the onditions speified in paragraph (5); aquire rights in another retirement benefits sheme whih is authorised under setion 3 of the At, provided that in relation to any retirement benefits sheme approved under setion 1 or 2 of the Inome Tax (Retirement Benefit Shemes) At 1978 or approved under setion 2 of the Inome Tax At 1989, approval to the transfer has been obtained from the Assessor of Inome Tax; or aquire rights in a retirement benefits sheme, not authorised under setion 3 of the At, provided that (ii) (iii) the trustees of the transferring sheme have taken reasonable steps to satisfy themselves that, where the reeiving sheme is an oupational pension sheme, the member is in employment to whih the reeiving sheme applies; the member has aknowledged in writing that the member aepts that the sheme to whih the transfer is to be made is not subjet to the supervision of the Authority and may not be regulated in any way by the law of the Island and that as a onsequene there may be no obligation under that law on the reeiving sheme or its trustees to provide any partiular value or benefit in return for the payment; and the trustee has reeived onfirmation from the member that the member has reeived a statement from the reeiving sheme showing the benefits to be awarded in respet of the transfer payment to be made and the onditions (if any) on whih these ould be forfeited or withheld. (5) The onditions referred to in paragraph (4) are that the insurane ompany is (ii) authorised under setion 8 of the 2008 At to arry on long-term business as defined in that At, or arrying on insurane business in a ountry other than the Island in aordane with the Page 8 SD 2014/0049

9 Retirement Benefits Shemes (Misellaneous Amendments) Regulation 5 the ontrat (ii) laws of that ountry and in respet of whih the member has aknowledged in writing that the member aepts that the insurane ompany is not subjet to the supervision of the Authority and may not be regulated in any way by the law of the Island and that as a onsequene there may be no obligation under that law on the insurane ompany to provide any partiular value or benefit in return for any transfer payment reeived; and has been hosen by the member; and assumes an obligation to the member, and where appropriate any dependants of the member, to pay the benefits seured under the ontrat by the reeipt of the transfer payment to the member or, as the ase may be, to the member s dependants. (6) On reeipt of an appliation made in aordane with paragraph (4), the trustee must do what is neessary to arry out the member s written transfer request within 6 months of the date of reeipt of that appliation. (7) Subjet to paragraph (8), sheme rules must, in respet of any member who has the right to transfer that member s arued rights but has not exerised that right, provide that any investment yield or bonuses arising from ontributions made by or on behalf of the member toward the provision of money purhase benefits from the sheme must ontinue to be applied until suh time as the member s arued rights are extinguished by the payment of benefits or transfers. (8) Before applying any investment yield or bonuses in aordane with paragraph (7), the trustee may dedut an amount in respet of any appropriate administrative expenses inurred by the trustee in the administration of the member s arued rights. (9) The trustee must not arrange for the transfer of any member s vested arued rights without the onsent of the member, exept where the trustee has obtained the onsent of the High Court or, in the ase of an oupational sheme where either the onditions set out in paragraph (10) or paragraph (11) are satisfied. (10) The onditions are that SD 2014/0049 Page 9

10 Regulation 5 Retirement Benefits Shemes (Misellaneous Amendments) the sheme is not in the proess of being wound up; the transfer is to a relevant ontrat; () the relevant ontrat is taken out not earlier than 15 months after the member beomes a deferred member; (d) (e) (f) (g) the trustee has furnished in writing to the member at least 3 months notie of the intention to take out the relevant ontrat, together with the main details of the ontrat and information as to the member s alternative entitlement to transfer that member s arued rights under this regulation; the value of the member s transfer is alulated in aordane with paragraph (3); the relevant ontrat provides the member with entitlement to transfer that member s rights under that ontrat in aordane with sub-paragraphs (4) to (); and the trustee does not hold an outstanding appliation under paragraph (4) for the transfer of the same rights or any part of them. (11) The onditions are that () (d) the member s arued rights are to be transferred from the transferring sheme to a reeiving sheme whih is registered as an authorised sheme under setion 3 of the At; the trustee of the transferring sheme has obtained a ertifiate from a relevant atuary, ertifying that the transfer redit to be aquired for the member under the reeiving sheme is, broadly, no less favourable than the rights to be transferred; information about the proposed transfer and details of the value of the rights to be transferred (inluding rights in respet of death in servie benefits and survivors' benefits) has been furnished to the member not less than one month before the proposed transfer is due to take plae; and the transferring sheme and the reeiving sheme apply to employment with the same employer; or (ii) different employers, if the member onerned is one of a group in respet of whom transfers are being made from the Page 10 SD 2014/0049

11 Retirement Benefits Shemes (Misellaneous Amendments) Regulation 5 transferring sheme to the reeiving sheme, and either (A) (B) the transfer is a onsequene of a finanial transation between the employers; or the employers are ompanies or partnerships bearing a relationship to eah other suh as is desribed in regulation 64(2) of the Oupational Pension Shemes (Contrating-out) Regulations , as they have effet in the Island. (12) If the sheme from whih a transfer payment is to be made is one whih is or was formerly approved by the Assessor of Inome Tax, the sheme to whih the transfer payment is to be made must satisfy requirements of the Assessor of Inome Tax. (13) For the purpose of setion 3(8)(d) of the At (restritions on the repayment of employee ontributions), the onstitutional douments of a sheme may provide for the repayment of any ontributions made to the sheme by a member in respet of any arued rights whih are not vested arued rights. (14) In this regulation relevant atuary means an atuary appointed by the trustee who satisfies the onditions of regulation 7(2). relevant ontrat means a ontrat of insurane, within the meaning of the 2008 At, whih is taken out with an insurane ompany whih is authorised under setion 8 of the 2008 At to arry on long-term business as defined in that At; assumes an obligation to the member, and where appropriate any of the member s dependants, to pay the benefits seured under the ontrat by the reeipt of the transfer payment to the member or, as the ase may be, to the member s dependants.». 9 SD 651/97 SD 2014/0049 Page 11

12 Regulation 6 Retirement Benefits Shemes (Misellaneous Amendments) 6 Amendment of the Retirement Benefits Shemes (Domesti Shemes) (General Administration) Regulations 2004 (1) The Retirement Benefits Shemes (Domesti Shemes) (General Administration) Regulations are amended as follows. (2) In regulation 2 for the definition of the Insurane At substitute «the 2008 At means the Insurane At 2008;»; () (d) in the definition of aepted insurer, for paragraphs and substitute «authorised under setion 8 of the 2008 At; holds a permit issued under setion 22 of the 2008 At; or»; in the definition of aepted investment sheme, for paragraph substitute «authorised under paragraph 2 of Shedule 1 to the Colletive Investment Shemes At 2008;»; in the definition of aepted investment sheme, for paragraph (d) substitute «(d) in reeipt of a permit under artile 7 of the Colletive Investment Funds (Jersey) Law 1988; or»; (e) after the definition of employer payment arrangement insert (f) (g) (h) (3) In regulation 5 «Finanial Servies Rule Book means the rules, or any part of the rules, made by the Finanial Supervision Commission under setion 18 of the Finanial Servies At 2008 ;» ; in the definition of insurer, for setion 34 of the Insurane At substitute «setion 54 of the 2008 At»; and in the definition of investment business, for Investment Business At 1991 substitute «Finanial Servies At 2008»; and in the definition of poliy of insurane, for the Insurane At substitute «the 2008 At». in paragraph (2) delete (3) and ; and paragraph (3) is revoked. (4) In regulation 7(2) for sub-paragraph () substitute 10 SD 589/04 (as amended by SD 63/06) Page 12 SD 2014/0049

13 Retirement Benefits Shemes (Misellaneous Amendments) Regulation 6 «() not a Fellow of the Institute and Faulty of Atuaries or a person who has otherwise satisfied the Supervisor that the person holds qualifiations equivalent to those required for membership of that body.» (5) In regulation 7(5)(d) (appointment of advisers) for Finanial Supervision Commission (Condut of Business) Regulatory Code substitute «Finanial Servies Rule Book». (6) In regulation 9 for the heading substitute «Duty to dislose and obtain information»; and after paragraph (2) insert «(3) Where it is proposed that a member transfers his or her arued rights to a retirement benefits sheme that is not () (d) registered as an authorised sheme under setion 3 of the At; registered as a reognised sheme under setion 21 of the At; a statutory sheme within the meaning of setion 14 of the Inome Tax (Retirement Benefit Shemes) At 1978; or a registered pension sheme within the meaning of the Retirement Benefits Shemes (Reognised Shemes) (United Kingdom) Order , then prior to the transfer being made the sheme trustee must obtain from the member the onfirmations set out in paragraph (4). (4) The onfirmations set out in this paragraph are that the member has reeived a statement from the reeiving sheme showing the benefits to be awarded in respet of the transfer payment to be made and the onditions (if any) on whih these ould be forfeited or withheld; and that the member aepts that the sheme to whih the transfer payment is to be made is not subjet to the supervision of the Insurane and Pensions Authority and may not be regulated in any way by the law of the Island and that as a onsequene there may be no obligation under that law on the reeiving sheme or its trustees to provide any 11 SD 591/04 SD 2014/0049 Page 13

14 Regulation 6 Retirement Benefits Shemes (Misellaneous Amendments) (7) In regulation 10(1) partiular value or benefit in return for the transfer payment.». immediately after sub-paragraph (viii) insert the word «and»; and sub-paragraph (ix) is revoked. (8) In regulation 14(2) for any of the institutions exempted from liensing by regulation 2 or 3 of the Banking At (Exemptions) Regulations 1999 substitute «National Savings and Investments (an exeutive ageny of the Chanellor of the Exhequer of the United Kingdom)». (9) In regulation 14(5) () (10) In regulation 16 in sub-paragraph for Banking At 1998 substitute «Finanial Servies At 2008»; sub-paragraph is revoked; and in sub-paragraph () for Part IV permission substitute «Part 4A permission». in paragraph (2) for paragraphs (3), (5), (7) and (9) substitute «paragraphs (5), (7) and (9)»; paragraph (3) is revoked; and () for paragraph (8) substitute (11) In regulation 16(10) «(8) Paragraph (7) does not apply to permit the retention of employer-related investments whih were, prior to the ommenement of the winding-up, held in ontravention of these Regulations.». in the definition of olletive investment sheme for setion 30 of the Finanial Supervision At 1988 but shall inlude arrangements of the types desribed in setion 30(6) and () of that At substitute «setion 1 of the Colletive Investment Shemes At 2008»; in the proviso in the definition of employer-related investments in sub-paragraph (iv) for Building Soiety whih is authorised under setion 2 of the Building Soieties At 1986 or an institution whih is liensed under the Banking At 1998 substitute «deposit-taking institution whih is liensed under setion 7 of the Finanial Servies At 2008»; Page 14 SD 2014/0049

15 Retirement Benefits Shemes (Misellaneous Amendments) Regulation 7 (ii) (iii) in sub-paragraph (iv)(ii) for setion 6 of the Insurane At; substitute «setion 8 of the 2008 At;»; and in sub-paragraph (iv)()(iv) for setion 144 of the Pension Shemes At 1993 substitute «setion 75 of the Pensions At »; () in the proviso in the definition of employer-related loan (ii) renumber paragraph (ii) in the seond plae it appears as paragraph «(iii)»; and in renumbered paragraph (iii)(iii) and (iii) for setion 6 of the Insurane At substitute «setion 8 of the 2008 At». (12) For paragraph 6 of Shedule 2 substitute «6. In respet of every amount shown in the aounts (other than the amounts referred to in paragraph 7), a statement of the orresponding amount for the preeding sheme year, exept where regulation 12 is omplied with by the trustee for the first time.» 7 Amendment of the Retirement Benefits Shemes (Reognised Shemes) (United Kingdom) Order 2004 (1) The Retirement Benefits Shemes (Reognised Shemes) (United Kingdom) Order is amended as follows. (2) In artile 1, for paragraph (2) substitute «(2) In this Order the At means the Retirement Benefits Shemes At 2000; and registered pension sheme means an oupational pension sheme that is registered under Chapter 2 of Part 4 of the Finane At 2004 (of Parliament) as a registered pension sheme.». (3) For artile 2(2) substitute «a registered pension sheme;». 8 Amendment of the Retirement Benefits Shemes (Permitted Shemes) Regulations 2004 (1) The Retirement Benefits Shemes (Permitted Shemes) Regulations are amended as follows. 12 SD 501/97 (setion 75 was inserted by SD 17/06) 13 SD 591/04 14 SD 593/04 SD 2014/0049 Page 15

16 Regulation 9 Retirement Benefits Shemes (Misellaneous Amendments) (2) In regulation 8(1) for onhim substitute «on the trustee» (3) In regulation 10(1) () in sub-paragraph (ii) for the Insurane At 1986 substitute «the Insurane At 2008»; in sub-paragraph (iii) for Banking At 1998 substitute «Finanial Servies At 2008»; sub-paragraph (iv) is revoked; and (d) in sub-paragraph (v) for Investment Business At 1991 substitute «Colletive Investment Shemes At 2008». 9 Amendment to the Retirement Benefits Shemes (General Register) Regulations 2004 (1) The Retirement Benefits Shemes (General Register) Regulations are amended as follows. (2) In regulation 5 in sub-paragraph (1)(e) for setion 21B of the Finanial Supervision At 1988 substitute «setion 24 of the Finanial Servies At 2008; and in sub-paragraph (2) for setion 21A of the Finanial Supervision At 1988 substitute «setion 25 of the Finanial Servies At 2008». MADE 11 JUNE 2014 W E TEARE Minister for the Treasury 15 SD 595/04 Page 16 SD 2014/0049

17 Retirement Benefits Shemes (Misellaneous Amendments) EXPLANATORY NOTE EXPLANATORY NOTE (This note is not part of the Regulations) These Regulations make various misellaneous amendments to a number of Regulations that are made under the Retirement Benefits Shemes At 2000 as follows () (d) (e) (f) (g) the Retirement Benefits Shemes (Management and Misellaneous Provisions) Regulations 2001, by updating referenes to legislation that has been superseded by other provisions, and by setting out the presribed partiulars that must be served on the Supervisor where it is proposed that a new diretor, hief exeutive, manager or ontroller of a sheme trustee or administrator be appointed; the Retirement Benefits Shemes (Exepted Shemes) Regulations 2001, by introduing provisions for the exlusion of ertain Employer-Finaned Retirement Benefits Shemes (non-registered UK benefit trusts) whih are not Tax Approved as retirement benefits shemes in the Island, from the requirements for registration under the provisions of the Retirement Benefits Shemes At 2000; by updating the definition and appliation of the exempted insurane ompany ontrats; by introduing provisions for the exlusion of ertain annuity ontrats and arrangements, whose sole purpose is to failitate the immediate seuring of relevant benefits, from the requirements for registration under the Retirement Benefits Shemes At 2000; and by updating referenes to legislation that has been superseded by other provisions; the Retirement Benefits Shemes (International Shemes) Regulations 2001, by introduing provisions to enable, under ertain onditions, the trustees to transfer arued benefits from International Shemes, without the need to obtain a ourt order in the absene of onsent of the members and by updating referenes to legislation that has been superseded by other provisions; the Retirement Benefits Shemes (Domesti Shemes) (General Administration) Regulations 2004, by updating referenes to legislation that has been superseded by other provisions and by introduing dislosure of information provisions relating to ertain proposed overseas transfers of sheme members rights; the Retirement Benefits Shemes (Reognised Shemes) (United Kingdom) Order 2004, by updating the provisions of this Order to reflet hanges of definitions that have ourred in United Kingdom legislation; the Retirement Benefits Shemes (Permitted Shemes) Regulations 2001, by updating referenes to legislation that has been superseded by other provisions; the Retirement Benefits Shemes (General Register) Regulations 2004, by updating referenes to legislation that has been superseded by other provisions. SD 2014/0049 Page 17