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Changes over time for: Cross Heading: Employer’s charges and other rights of recovery


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 06/04/1997
Status:
Point in time view as at 19/06/1996.
Changes to legislation:
There are currently no known outstanding effects for the Companies Act 1985, Cross Heading: Employer’s charges and other rights of recovery.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
[ Employer’s charges and other rights of recovery]E+W+S
7(1)Where shares in an undertaking are held on trust, there shall be disregarded—
(a)if the trust is for the purposes of a pension scheme, any such rights as are mentioned in sub-paragraph (2) below;
(b)if the trust is for the purposes of an employee’s share scheme, any such rights as are mentioned in paragraph (a) of that sub-paragraph,
being rights of the undertaking or any of its subsidiary undertakings.
(2)The rights referred to are—
(a)any charge or lien on, or set-off against, any benefit or other right or interest under the scheme for the purpose of enabling the employer or former employer of a member of the scheme to obtain the discharge of a monetary obligation due to him from the member, and
(b)any right to receive from the trustee of the scheme, or as trustee of the scheme to retain, an amount that can be recovered or retained under [section 61 of the Pension Schemes Act 1993 (deduction of contributions equivalent premium from refund of scheme contributions)] or otherwise as reimbursement or partial reimbursement for any state scheme premium paid in connection with the scheme under [Chapter III of Part III] of that Act.
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