C1C2Part 2The Board of the Pension Protection Fund
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
Chapter 4Fraud compensation
Entitlement to fraud compensation
186Interim payments
1
The Board may, on an application under section 182, make a payment or payments to the trustees or managers of an occupational pension scheme if—
a
it is of the opinion that—
i
the case is one to which subsection (1) of that section applies or may apply, and
ii
the trustees or managers would not otherwise be able to meet liabilities of a prescribed description, but
b
it has not determined the settlement date under section 184.
2
Amounts payable under this section must not exceed the amounts determined in accordance with regulations.
3
The Board may, except in prescribed circumstances, recover so much of any payment made under subsection (1) as it considers appropriate if, after the payment is made, it determines—
a
that the case is not one to which section 182(1) applies, or
b
that the amount of the payment was excessive.
4
Subject to that, a payment under subsection (1) may be made on such terms (including terms requiring repayment in whole or in part) and on such conditions as the Board considers appropriate.
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