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3. In relation to a partially guaranteed scheme, Schedule 8 applies as if –
(a)in paragraph 8 after “valuation” there were inserted “of the unsecured part”;
(b)in paragraph 9 after “respect” there were inserted “of the unsecured part”; and
(c)after paragraph 15 there were inserted the following paragraphs –
“15A. The failure by the Board to obtain an actuarial valuation of the assets and protected liabilities of the unsecured part of an eligible scheme under Article 144(4A)(1).
15B. The approval of, or failure to approve, a valuation of the assets and protected liabilities of the unsecured part of an eligible scheme under Article 128(2) as applied for the purposes of Article 144(4A).”.
Paragraph (4A) was inserted by regulation 10(1)(a) of S.R. 2005 No. 55
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