C7C6C5Part 2The Board of the Pension Protection Fund

Annotations:
Modifications etc. (not altering text)
C7

Pt. 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 (as amended (23.7.2012) by The Pension Protection Fund (Miscellaneous Amendments) Regulations 2012 (S.I. 2012/1688), regs. 1(2), 2(1)-(19))

C2C1C4Chapter 3Pension protection

Annotations:
Modifications etc. (not altering text)
C2

Pt. 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

C1

Pt. 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

C4

Pt. 2 applied in part (with modifications) (20.7.2005 for specified purposes, 1.9.2005 for specified purposes, 5.12.2005 for specified purposes) by The Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986), regs. 1(1), 4, Sch. 1

Valuation of assets and liabilities

I1C1C2C3144C1C2Approval of valuation

1

This section applies where the Board obtains a valuation in respect of a scheme under section F1143(2)(b).

2

Where the Board is satisfied that the valuation has been prepared in accordance with F2section 143, it must—

a

approve the valuation, and

b

give a copy of the valuation to—

i

the Regulator,

ii

the trustees or managers of the scheme, and

iii

any insolvency practitioner in relation to the employer or, if there is no such insolvency practitioner, the employer.

3

Where the Board is not so satisfied, it must obtain another valuation under that section.