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Pension Schemes Act 1993

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Changes over time for: Section 25

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Version Superseded: 06/04/1996

Status:

Point in time view as at 01/01/1996. This version of this provision has been superseded. Help about Status

Changes to legislation:

Pension Schemes Act 1993, Section 25 is up to date with all changes known to be in force on or before 15 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

25 Power for Board to impose conditions as to investments and resources.E+W+S

(1)The Board may by reference to the considerations of section 24(1) make it a condition of the contracting-out or continued contracting-out of a scheme to which that section applies that—

(a)no part, or no more than a specified proportion, of the scheme’s resources shall be invested in investments of a specified class or description; or

(b)the whole or a specified proportion of investments of a specified class or description forming part of the scheme’s resources when the condition is imposed shall be realised before the end of a specified period.

(2)Where contracting-out or continued contracting-out depends on the Board’s being satisfied as mentioned in section 24(1), the scheme may be contracted-out or continue to be contracted-out, as the case may be, in relation to any employment subject to such conditions as the Board think fit to impose for securing—

(a)that they are kept informed about any matters affecting the security of the minimum pensions guaranteed under the scheme;

(b)that the resources of the scheme are brought to and maintained at a level satisfactory to the Board.

(3)Conditions imposed by the Board for the purpose mentioned in subsection (2)(b) may require steps to be taken, at the instance of the Board, to increase the scheme’s resources at any time after contracting-out, including a time when the scheme has ceased to be contracted-out.

Commencement Information

I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2

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