- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
49.—(1) This Article applies in relation to a restoration order under Article 48 in respect of a transaction involving assets of a scheme (“the transaction”).
(2) The restoration order may in particular—
(a)require any assets of the scheme (whether money or other property) which were transferred as part of the transaction to be transferred back—
(i)to the trustees or managers of the scheme, or
(ii)where the Board has assumed responsibility for the scheme, to the Board;
(b)require any property to be transferred to the trustees or managers of the scheme or, where the Board has assumed responsibility for the scheme, to the Board if it represents in any person’s hands—
(i)any of the assets of the scheme which were transferred as part of the transaction, or
(ii)property derived from any such assets so transferred;
(c)require such property as the Regulator may specify in the order, in respect of any consideration for the transaction received by the trustees or managers of the scheme, to be transferred—
(i)by the trustees or managers of the scheme, or
(ii)where the Board has assumed responsibility for the scheme, by the Board,
to such persons as the Regulator may specify in the order;
(d)require any person to pay, in respect of benefits received by him as a result of the transaction, such sums (not exceeding the value of the benefits received by him) as the Regulator may specify in the order—
(i)to the trustees or managers of the scheme, or
(ii)where the Board has assumed responsibility for the scheme, to the Board.
(3) A restoration order is of no effect to the extent that it prejudices any interest in property which was acquired in good faith and for value or any interest deriving from such an interest.
(4) Nothing in paragraph (3) prevents a restoration order requiring a person to pay a sum of money if the person received a benefit as a result of the transaction otherwise than in good faith and for value.
(5) Where a person has acquired an interest in property from a person or has received a benefit as a result of the transaction and—
(a)he is one of the trustees or managers or appropriate persons who entered into the transaction as mentioned in paragraph (6) of Article 48, or
(b)at the time of the acquisition or receipt—
(i)he has notice of the fact that the transaction was a transaction at an undervalue,
(ii)he is a trustee or manager, or the employer, in relation to the scheme, or
(iii)he is connected with, or an associate of, any of the persons mentioned in sub-paragraph (a) or (b)(ii),
then, unless the contrary is shown, it is to be presumed for the purposes of paragraphs (3) and (4) that the interest was acquired or the benefit was received otherwise than in good faith.
(6) For the purposes of this Article—
(a)Article 7 of the Insolvency Order (connected persons) applies as it applies for the purposes of any provision of Parts II to VII of that Order, and
(b)Article 4 of that Order (associated persons) applies as it applies for the purposes of that Order.
(7) For the purposes of this Article “property” includes—
(a)money, goods, things in action, land and every description of property wherever situated, and
(b)obligations and every description of interest, whether present or future or vested or contingent, arising out of, or incidental to, property.
(8) References in this Article to where the Board has assumed responsibility for a scheme are to where the Board has assumed responsibility for the scheme in accordance with Chapter 3 of Part III (pension protection).
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Explanatory Memorandum sets out a brief statement of the purpose of a Northern Ireland Order in Council and provides information about its policy objective and policy implications. They aim to make the Order accessible to readers who are not legally qualified and accompany any Northern Ireland Order in Council made since 2002.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys