Pensions Citation and commencement 1 These Regulations may be cited as the Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) (Amendment No. 2) Regulations (Northern Ireland) 2019 and shall come into operation on 30th September 2019. Amendment of the Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations 2 The Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations (Northern Ireland) 2015 are amended in accordance with regulations 3 to 5. Amendment of regulation 1 3 In regulation 1(2) (interpretation) after the definition of “member” insert— “pension credit rights” has the meaning given in section 97B of the 1993 Act; . Substitution of regulation 5 4 For regulation 5 (exception to section 51(1) of the Act) substitute— Exception to section 51(1) of the Act 5 1 The trustees or managers are not required to carry out the check in section 51(1) of the Act (independent advice in respect of conversions and transfers) if the transfer value of the member’s or survivor’s subsisting rights in respect of safeguarded benefits under the pension scheme is £30,000 or less on the valuation date . 2 In this regulation “transfer value” means— a where the rights referred to in paragraph (1) are transferrable rights as defined in section 89(11) of the 1993 Act (scope of Chapter 1), the amount of the cash equivalent of those rights calculated in accordance with section 93 of that Act (calculation of cash equivalents) and regulations made under it; b where the rights referred to in paragraph (1) are pension credit rights, the amount of the cash equivalent of those rights calculated in accordance with regulations made under section 97I of the 1993 Act (calculation of cash equivalents); c in any other case, the amount which would be the cash equivalent of the rights referred to in paragraph (1), calculated in accordance with section 93 of the 1993 Act and regulations made under it, as if— i Chapter 1 of Part 4ZA of the 1993 Act (transfer rights: general) applied to the member or survivor by virtue of those rights; ii references to a member in that Chapter and regulations made under it included a survivor of a member, and iii in the case of an active member, the member had ceased to accrue rights to benefits on the valuation date, but, in each case, disregarding regulations 7D and 7E of the Transfer Values Regulations (reductions to initial cash equivalents and alternative manner of calculating and verifying cash equivalents). . Amendment of regulation 8 5 In regulation 8(6) (information to be provided on initial enquiry) for the words from “if the” to “within” substitute “if the transfer value (as defined in regulation 5(2)) of the member’s or survivor’s subsisting rights to safeguarded benefits under the scheme were to be calculated within”. Revocation 6 The Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) (Amendment) Regulations (Northern Ireland) 2019 are revoked. Sealed with the Official Seal of the Department for Communities on 26th September 2019 (L.S.) Anne McCleary A senior officer of the Department for Communities