Point in time view as at 04/01/2024.
Pensions Act 2004, Section 120 is up to date with all changes known to be in force on or before 06 March 2025. 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.
(1)This section applies where, in the case of an occupational pension scheme, an insolvency event occurs in relation to the employer.
(2)The insolvency practitioner in relation to the employer must give a notice to that effect within the notification period to—
(a)the Board,
(b)the Regulator, and
(c)the trustees or managers of the scheme.
(3)For the purposes of subsection (2) the “notification period” is the prescribed period beginning with the later of—
(a)the insolvency date, and
(b)the date the insolvency practitioner becomes aware of the existence of the scheme.
(4)A notice under this section must be in such form and contain such information as may be prescribed.
Modifications etc. (not altering text)
C1S. 120 modified (6.4.2005) by The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441), regs. 1(1)(d), 61, 62(1) and amendment to earlier affecting provision (1.8.2005) by The Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2005 (S.I. 2005/2113), regs. 1(2), 10(4)
C2Pt. 2 modified in part (9.3.2005 for specified purposes, 1.4.2005 for specified purposes, 6.4.2005 in so far as not already in force (except ch. 4)) by The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441), regs. 1, 2-60, 71, 72
C3Pt. 2 modified (8.3.2005 for specified purposes, 6.4.2005 in so far as not already in force) by The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005 (S.I. 2005/277), regs. 1(1), 2-11
Commencement Information
I1S. 120(1)(2) in force at 6.4.2005 by S.I. 2005/275, art. 2(7), Sch. Pt. 7
I2S. 120(3)(4) in force for the purpose only of conferring power to make regulations, orders or rules, as the case may be, 10.2.2005; and for all other purposes at 6.4.2005 in so far as not already in force by S.I. 2005/275, art. 2(3), Sch. Pt. 3
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