Part 2The Board of the Pension Protection Fund
Chapter 3Pension protection
Discharge of Board’s liabilities
169Discharge of liabilities in respect of compensation
(1)
This section applies where the Board assumes responsibility for an eligible scheme in accordance with this Chapter.
(2)
The Board may provide for the discharge of any liability imposed by this Chapter to provide compensation—
(a)
by the taking out of a policy of insurance or a number of such policies;
(b)
by the entry into an annuity contract or a number of such contracts;
(c)
by the transfer of the benefit of such a policy or policies or such a contract or contracts;
(d)
in prescribed circumstances, by the payment of a cash sum calculated in the prescribed manner.