PART IITHE PENSIONS REGULATOR
Powers in relation to winding up of occupational pension schemes
Effect of determination to wind up scheme on freezing order23
1
This Article applies where—
a
the Regulator determines to make an order under Article 11 of the 1995 Order (power to wind up occupational schemes) in relation to a scheme ( “a winding up order”),
b
that determination is made during the period for which a freezing order has effect in relation to the scheme,
c
the case is not one to which the special procedure in Article 93 applies (immediate exercise of powers where immediate risk to assets etc.), and
d
the winding up order accordingly cannot be made until the expiry of the period specified in Article 91(5) (no exercise of powers during period of referral to the Tribunal etc.).
2
In such a case the freezing order is to continue to have effect until—
a
where the winding up order is made, it ceases to have effect under Article 24 from the time when that order is made, or
b
the determination to make the winding up order is revoked.
3
Paragraph (2) is subject to the Regulator's power under Article 96 to revoke the freezing order at any time.