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Changes over time for: Section 22


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/10/2006.
Changes to legislation:
Pensions Act 2004, Section 22 is up to date with all changes known to be in force on or before 04 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.

Changes to Legislation
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22Powers to wind up occupational pension schemesE+W+S
This section has no associated Explanatory Notes
In section 11 of the Pensions Act 1995 (powers to wind up occupational pension schemes)—
(a)omit subsection (3),
(b)before subsection (4) insert—
“(3A)The Authority may, during an assessment period (within the meaning of section 132 of the Pensions Act 2004 (meaning of “assessment period” for the purposes of Part 2 of that Act)) in relation to an occupational pension scheme, by order direct the scheme to be wound up if they are satisfied that it is necessary to do so in order—
(a)to ensure that the scheme’s protected liabilities do not exceed its assets, or
(b)if those liabilities do exceed its assets, to keep the excess to a minimum.
(3B)In subsection (3A)—
(a)“protected liabilities” has the meaning given by section 131 of the Pensions Act 2004, and
(b)references to the assets of the scheme are references to those assets excluding any assets representing the value of any rights in respect of money purchase benefits (within the meaning of that Act) under the scheme.”,
(c)at the end of subsection (4) insert— “ This subsection is subject to sections 28, 135 and 219 of the Pensions Act 2004 (winding up order made when freezing order has effect in relation to scheme, during assessment period under Part 2 of that Act etc). ”, and
(d)after subsection (6) insert—
“(6A)Subsection (6) does not have effect to authorise the Authority to make an order as mentioned in paragraph (a) or (b) of that subsection, if their doing so would be unlawful as a result of section 6(1) of the Human Rights Act 1998 (unlawful for public authority to act in contravention of a Convention right).”
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