Valid from 06/04/2005
27Effect of determination to wind up scheme on freezing orderE+W+S
(1)This section applies where—
(a)the Regulator determines to make an order under section 11 of the Pensions Act 1995 (c. 26) (power to wind up occupational pension schemes) in relation to a scheme (“a winding up order”),
(b)that determination is made during the period for which a freezing order has effect in relation to the scheme,
(c)the case is not one to which the special procedure in section 98 applies (immediate exercise of powers where immediate risk to assets etc), and
(d)the winding up order accordingly cannot be made until the expiry of the period specified in section 96(5) (no exercise during period of referral to the Tribunal etc).
(2)In such a case the freezing order is to continue to have effect until—
(a)where the winding up order is made, it ceases to have effect under section 28 from the time when that order is made, or
(b)the determination to make the winding up order is revoked.
(3)Subsection (2) is subject to the Regulator’s power under section 101 to revoke the freezing order at any time.