C1C3C2 PART IIITHE BOARD OF THE PENSION PROTECTION FUND

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C3CHAPTER 3PENSION PROTECTION

Discharge of Board's liabilities

Discharge of liabilities in respect of compensationI1153

1 F1

This Article applies where the Board assumes responsibility for an eligible scheme in accordance with this Chapter.

2

The Board may provide for the discharge of any liability imposed by this Chapter to provide compensation—

a

by the taking out of a policy of insurance or a number of such policies;

b

by the entry into an annuity contract or a number of such contracts;

c

by the transfer of the benefit of such a policy or policies or such a contract or contracts;

d

in prescribed circumstances, by the payment of a cash sum calculated in the prescribed manner.