PART IITHE PENSIONS REGULATOR

Financial support directions

Articles 39 to 46: interpretation47

1

In Articles 39 to 46—

  • “group of companies” means a holding company and its subsidiaries within the meaning given by Article 4(1) of the Companies Order, and “member” in relation to such a group is to be construed accordingly;

  • “holding company” has the meaning given by Article 4(1) of that Order.

2

For the purposes of Articles 39 to 46—

a

references to a debt due under Article 75 of the 1995 Order include a contingent debt under that Article, and

b

references to the amount of such a debt include the amount of such a contingent debt.

3

For the purposes of Articles 39 to 46—

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.