C1Part 1The Pensions Regulator
Powers in relation to winding up of occupational pension schemes
I127Effect of determination to wind up scheme on freezing order
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.
Pt. 1 applied in part (with modifications) (20.7.2005 for specified purposes, 1.9.2005 for specified purposes, 5.12.2005 for specified purposes) by The Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986), regs. 1(1), 4, Sch. 1