Commentary on Sections Introductory Section 221: Pension schemes to which this Part applies
794.This section sets out the scope of the scheme funding provisions. It provides for this Part of the Act to apply to every occupational scheme apart from money purchase schemes. The section also provides a power for regulations to exclude other schemes from all or part of this Part, and the intention is that the scheme funding provisions will broadly apply to those schemes to which the Minimum Funding Requirement currently applies, subject to the scope of the provisions of the requirements of the European Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision (the IORP Directive).