456. Supervision of schemes which have ceased to be certified: former contracted-out schemes.

The provisions relating to the supervision of former contracted-out schemes1 apply for the purpose of making provision for securing the continued supervision of any scheme that was a salary related contracted-out scheme2, other than a public service pension scheme3, if any person is entitled to receive, or has accrued rights4 to:


    (1)     a guaranteed minimum pension under the scheme5; or


    (2)     a pension under the scheme attributable to service on or after the principal appointed day6 but before the scheme ceased to be contracted-out7.

The Commissioners for Revenue and Customs may direct the trustees or managers of the scheme, or