Safeguarding of interests of creditors of insolvent persons S

Valid from 06/04/1996

[F1 36C Orders under section 36A: supplementary. S

(1) Nothing in—

(a) any provision of section 159 of the Pension Schemes Act 1993 or 91 of the Pensions Act 1995 (which prevent assignation, or orders being made restraining a person from receiving anything which he is prevented from assigning, and make provision in relation to a person’s pension on sequestration);

(b) any provision of any enactment (whether passed or made before or after the passing of the Pensions Act 1995) corresponding to any of the provisions mentioned in paragraph (a) above; or

(c) any provision of the scheme in question corresponding to any of those provisions,

applies to a court exercising its powers under section 36A of this Act.

(2) Where any sum is required by an order under section 36A of this Act to be paid to the permanent trustee, that sum shall be comprised in the debtor’s estate.

(3) Where contributions have been made during the relevant period to any occupational pension scheme and the entitlement or accrued right to benefits acquired thereby has been transferred to a second or subsequent occupational pension scheme (“the transferee scheme”), sections 36A and 36B of this Act and this section shall apply as though the contributions had been made to the transferee scheme.

(4) For the purposes of this section and sections 36A and 36B of this Act—

(a) contributions are made during the relevant period if they are made at any time during the period of 5 years ending with the date of sequestration; and

(b) the accrued rights of a debtor under an occupational pension scheme at any time are the rights which have accrued to or in respect of him at that time to future benefits under the scheme.

(5) In this section and sections 36A and 36B of this Act—

• “occupational pension scheme” has the meaning given by section 1 of the Pension Schemes Act 1993; and

• “trustees or managers”, in relation to an occupational pension scheme, means—

  (a)

  in the case of a scheme established under a trust, the trustees of the scheme; and

  (b)

  in any other case, the managers of the scheme.]

Textual Amendments

F1 S. 36C inserted (6.4.1996 for specified purposes and otherwiseprosp.) by 1995 c. 26, s. 95(2); S.I. 1996/778, art. 2(5)(a), Sch. Pt. V