C5C4C6C7Part 2The Board of the Pension Protection Fund

Annotations:
Modifications etc. (not altering text)
C7

Pt. 2 applied in part (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 42(1), 53, 57 (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c. 19 - see S.I. 2014/1683, art. 2

C2C1Chapter 2Information relating to employer’s insolvency etc

Annotations:
Modifications etc. (not altering text)
C2

Pt. 2 modified in part (9.3.2005 for specified purposes, 1.4.2005 for specified purposes, 6.4.2005 in so far as not already in force (except ch. 4)) by The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441), regs. 1, 2-60, 71, 72

C1

Pt. 2 modified (8.3.2005 for specified purposes, 6.4.2005 in so far as not already in force) by The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (S.I. 2005/277), regs. 1(1), 2-11

Status of scheme

C1C2C3123C1C2Approval of notices issued under section 122

I21

This section applies where the Board receives a notice under section 122(6) (“the section 122 notice”).

I22

The Board must determine whether to approve the section 122 notice.

I23

The Board must approve the section 122 notice if, and only if, it is satisfied—

a

that the insolvency practitioner or former insolvency practitioner who issued the notice was required to issue it under that section, and

b

that the notice complies with any requirements imposed by virtue of subsection (8) of that section.

I24

Where the Board makes a determination for the purposes of subsection (2), it must issue a determination notice and give a copy of that notice to—

a

the Regulator,

b

the trustees or managers of the scheme,

c

the insolvency practitioner or the former insolvency practitioner who issued the section 122 notice,

d

any insolvency practitioner in relation to the employer (who does not fall within paragraph (c)), and

e

if there is no insolvency practitioner in relation to the employer, the employer.

I15

In subsection (4) “determination notice” means a notice which is in the prescribed form and contains such information about the determination as may be prescribed.