Point in time view as at 29/06/2009.
Pensions (No. 2) Act (Northern Ireland) 2008, Paragraph 14 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
14—(1) In Article 40(3) (meaning of “insufficiently resourced”), for sub-paragraph (b) substitute—N.I.
“(b)condition A or B is met.”.
(2) After paragraph (3) insert—
“(3A) Condition A is met if—
(a)there is at that time a person who falls within Article 39(6)(b) or (c), and
(b)the value at that time of that person's resources is not less than the relevant deficit, that is to say the amount which is the difference between—
(i)the value of the resources of the employer, and
(ii)the amount which is the prescribed percentage of the estimated Article 75 debt.
(3B) Condition B is met if—
(a)there are at that time two or more persons who—
(i)fall within Article 39(6)(b) or (c), and
(ii)are connected with, or associates of, each other, and
(b)the aggregate value at that time of the resources of the persons who fall within sub-paragraph (a) (or any of them) is not less than the relevant deficit.”.
(3) In paragraph (4), for “paragraph (3)” substitute “ paragraphs (3) to (3B) ”.
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