The Pensions (Northern Ireland) Order 2005

Approval of valuation N.I.

128.—(1 )F1  F2 This Article applies where the Board obtains a valuation in respect of a scheme under Article [F3 127(2)(b)].

(2) Where the Board is satisfied that the valuation has been prepared in accordance with [F4 Article 127], it must—

(a) approve the valuation, and

(b) give a copy of the valuation to—

(i) the Regulator,

(ii) the trustees or managers of the scheme, and

(iii )F2 any insolvency practitioner in relation to the employer or, if there is no such insolvency practitioner, the employer.

F2 (3) Where the Board is not so satisfied, it must obtain another valuation under that Article.

F1 mod. by SR 2005/55

F2 mod. by SR 2005/91

F3 Word in art. 128(1) substituted (23.7.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 7(2); S.R. 2012/265, art. 2(4)(a)(ii)

F4 Words in art. 128(2) substituted (23.7.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 7(3); S.R. 2012/265, art. 2(4)(a)(ii)