Part 2The Board of the Pension Protection Fund
Chapter 3Pension protection
Assumption of responsibility for a scheme
167Modification of Chapter where liabilities discharged during assessment period
(1)
Regulations may modify any of the provisions of this Chapter as it applies to cases—
(a)
where any liability to provide pensions or other benefits to or in respect of any member or members under a scheme is discharged during an assessment period in relation to the scheme by virtue of—
(i)
regulations under section 135(4), or
(ii)
the Board validating any action mentioned in section 135(9), or
(b)
where, in prescribed circumstances, any such liability of a prescribed description is discharged on the assessment date but before the commencement of the assessment period.
(2)
In this section “assessment date” is to be construed in accordance with Schedule 7.