Part 3Personal Accounts Delivery Authority

23Winding up of the Authority

F11

The Secretary of State may by order provide for the winding up and dissolution of the Authority.

2

F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5

An order under this section may, in particular—

a

provide for the transfer of property, rights or liabilities of the Authority to the Secretary of State F3or any other person;

b

provide, in connection with provision made under paragraph (a)—

i

for the creation of interests in property transferred;

ii

for the creation of rights and liabilities in relation to such property;

iii

for interests, rights and liabilities to be extinguished;

c

provide for the payment by the Secretary of State or the Authority of compensation to any person who suffers loss or damage as a result of the provision made for the winding up of the Authority.

6

An order under this section may make—

a

such consequential, incidental or supplemental provision, and

b

such transitional, transitory or saving provision,

as the Secretary of State thinks necessary or expedient in connection with, or in consequence of, the winding up and dissolution of the Authority.

7

An order under this section may also contain provision repealing any provision of

F4a

sections 20 to 22 or Schedule 6F5;

b

sections 79 to 85 of the Pensions Act 2008.

8

No order may be made under this section unless a draft of the order has been laid before and approved by a resolution of each House of Parliament.