Common use of Change in Law or Circumstances Clause in Contracts

Change in Law or Circumstances. Without prejudice to the generality of Clause 12.2 and without the need to comply with any notice provisions contained in that Clause, MPF may at any time alter, amend or add to the terms and provisions of the Policy and take such other action as MPF may in its discretion think fit (including, without limitation, delaying any payment or suspending any dealings under the Policy or terminating the Policy in accordance with Clause 11.2), if there is any change in law or regulation affecting MPF, its assets, the Policy, the CIF or the Schemes, or there is any change in circumstances which in MPF's opinion and at its discretion, renders necessary or desirable any such alteration, amendment, addition, or other action, including (without limitation): (i) any restriction on the assets in which MPF is able to invest; (ii) any circumstances which make it impossible, impracticable or inequitable to carry out any of the terms or provisions of the Policy; (iii) any change in the basis or nature of taxation applicable to MPF and/or the Policy, or any circumstances whereby MPF may or should become liable to pay any tax or levy (including Value Added Tax or other similar payment) in relation to any benefits, or to pay any other levy or charge (including, without limitation, under FSMA or the Rules); (iv) any change in the law governing contracting-out under the Pension Schemes Act 1993 insofar as that change is relevant to the Schemes; or (v) the Schemes ceasing to be a Registered Scheme.

Change in Law or Circumstances. Without prejudice to the generality of Clause 12.2 and without the need to comply with any notice provisions contained in that Clause, MPF may at any time alter, amend or add to the terms and provisions of the Policy and take such other action as MPF may in its discretion think fit (including, without limitation, delaying any payment or suspending any dealings under the Policy or terminating the Policy in accordance with Clause 11.2), if there is any change in law or regulation affecting MPF, its assets, the Policy, the CIF Policy or the SchemesScheme, or there is any change in circumstances which in MPF's opinion and at its discretion, renders necessary or desirable any such alteration, amendment, addition, or other action, including (without limitation): (i) any restriction on the assets in which MPF is able to invest; (ii) any circumstances which make it impossible, impracticable or inequitable to carry out any of the terms or provisions of the Policy; (iii) any change in the basis or nature of taxation applicable to MPF and/or the Policy, or any circumstances whereby MPF may or should become liable to pay any tax or levy (including Value Added Tax or other similar payment) in relation to any benefits, or to pay any other levy or charge (including, without limitation, under FSMA or the Rules); (iv) any change in the law governing contracting-out under the Pension Schemes Act 1993 insofar as that change is relevant to the SchemesScheme; or (v) the Schemes Scheme's ceasing to be a Registered Scheme.

Change in Law or Circumstances. Without prejudice to the generality of Clause 12.2 11.2 and without the need to comply with any notice provisions contained in that Clauseclause, MPF may at any time alter, amend or add to the terms and provisions of the Policy Reinsurance Agreement and take such other action as MPF may in its discretion think fit (including, without limitation, delaying any payment or suspending any dealings under the Policy Reinsurance Agreement or terminating the Policy Reinsurance Agreement in accordance with Clause 11.210.2), if there is any change in law or regulation affecting MPF, its assets, the Policy, the CIF Reinsurance Agreement or the SchemesInsurer, or there is any change in circumstances which in MPF's opinion and at its discretion, renders necessary or desirable any such alteration, amendment, addition, or other action, including (without limitation): (i) any restriction on the assets in which MPF is able to invest; (ii) any circumstances which make it impossible, impracticable or inequitable to carry out any of the terms or provisions of the PolicyReinsurance Agreement; (iii) any change in the basis or nature of taxation applicable to MPF and/or the PolicyReinsurance Agreement, or any circumstances whereby MPF may or should become liable to pay any tax or levy (including Value Added Tax or other similar payment) in relation to any benefits, or to pay any other levy or charge (including, without limitation, under FSMA or the Rules); (iv) any change in the law governing contracting-out under the Pension Schemes Act 1993 insofar as that change is relevant to the SchemesInsurer Policyholder; or (v) the Schemes Insurer Policyholder ceasing to be a Registered Scheme.

Change in Law or Circumstances. Without prejudice to the generality of Clause 12.2 11.2 and without the need to comply with any notice provisions contained in that Clauseclause, MPF may at any time alter, amend or add to the terms and provisions of the Policy Reinsurance Agreement and take such other action as MPF may in its discretion think fit (including, without limitation, delaying any payment or suspending any dealings under the Policy Reinsurance Agreement or terminating the Policy Reinsurance Agreement in accordance with Clause 11.210.2), if there is any change in law or regulation affecting MPF, its assets, the Policy, the CIF Reinsurance Agreement or the SchemesInsurer, or there is any change in circumstances which in MPF's opinion and at its discretion, renders necessary or desirable any such alteration, amendment, addition, or other action, including (without limitation): (i) any restriction on the assets in which MPF is able to invest; (ii) any circumstances which make it impossible, impracticable or inequitable to carry out any of the terms or provisions of the PolicyReinsurance Agreement; (iii) any change in the basis or nature of taxation applicable to MPF and/or the PolicyReinsurance Agreement, or any circumstances whereby MPF may or should become liable to pay any tax or levy (including Value Added Tax or other similar payment) in relation to any benefits, or to pay any other levy or charge (including, without limitation, under FSMA or the Rules); (iv) any change in the law governing contracting-out contracting -out under the Pension Schemes Act 1993 insofar as that change is relevant to the SchemesInsurer Policyholder; or (v) the Schemes Insurer Policyholder ceasing to be a Registered Scheme.

Change in Law or Circumstances. Without prejudice to the generality of Clause 12.2 and without the need to comply with any notice provisions contained in that Clause, MPF may at any time alter, amend or add to the terms and provisions of the Policy and take such other action as MPF may in its discretion think fit (including, without limitation, delaying any payment or suspending any dealings under the Policy or terminating the Policy in accordance with Clause 11.2), if there is any change in law or regulation affecting MPF, its assets, the Policy, the CIF Policy or the SchemesScheme, or there is any change in circumstances which in MPF's opinion and at its discretion, renders necessary or desirable any such alteration, amendment, addition, or other action, including (without limitation): (i) any restriction on the assets in which MPF is able to invest; (ii) any circumstances which make it impossible, impracticable or inequitable to carry out any of the terms or provisions of the Policy; (iii) any change in the basis or nature of taxation applicable to MPF and/or the Policy, or any circumstances whereby MPF may or should become liable to pay any tax or levy (including Value Added Tax or other similar payment) in relation to any benefits, or to pay any other levy l evy or charge (including, without limitation, under FSMA or the Rules); (iv) any change in the law governing contracting-out contracting -out under the Pension Schemes Act 1993 insofar as that change is relevant to the SchemesScheme; or (v) the Schemes Scheme's ceasing to be a Registered Scheme.