PART 9Interest and the payment, reduction or waiver of liabilities
Payment of amounts owed to a person 67
1
This regulation applies where the scheme owes a net liability to a person (“P”) after taking into account regulation 65
2
The scheme manager must pay the amount of the net liability to P as soon as reasonably practicable—
a
after the scheme manager determines the amount of the net liability, or
b
where the scheme manager requires P to make an application in accordance with paragraph (3), after receipt of that application.
3
Before paying the amount of a net liability owed to P, the scheme manager may by notice in writing require P to make an application which is—
a
in a form and manner determined by the scheme manager;
b
accompanied by such information as the scheme manager may require—
i
which is within P’s possession, or
ii
which P may reasonably be expected to obtain; and
c
received by the scheme manager before the end of the period of six months beginning with the day after the day on which P receives notice that the application is required.