The other measures contained in Chapter 2 of Part 4 make consequential amendments to the provisions contained in the Pensions Act relating to regulatory own funds schemes and regulatory own funds trust retirement annuity contracts. These include, for example, the exemption of regulatory own funds schemes from the requirement to submit funding proposals or to restructure scheme benefits where a scheme fails to satisfy the funding standard under Part IV of the Pensions Act. The requirement to submit funding proposals and to restructure scheme benefits is set out in a new Part of the Pensions Act, which is being introduced by section 35.

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