Circumstances in which Board assumes responsibility for eligible schemes N.I.

4.—(1) Articles 111 (duty to assume responsibility for schemes following insolvency event) and 112 (duty to assume responsibility for schemes following application or notification) apply as if, in paragraph (2) of each Article –

(a) for “responsibility for the scheme” there were substituted “responsibility for the unsecured part”, and

(b) in sub-paragraph (a), after “protected liabilities” there were inserted “of that part”.

(2) Article 113 (applications and notifications for the purposes of Article 112) applies as if, in paragraph (1), for “responsibility for the scheme” there were substituted “responsibility for the unsecured part”.

Commencement Information

I1 Reg. 4(1) in operation at 6.4.2005, see reg. 1(1)(b)

I2 Reg. 4(2) in operation at 8.3.2005 for specified purposes, see reg. 1(1)(a)