23Winding up of the AuthorityU.K.
[F1(1)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
[F4(a)]sections 20 to 22 or Schedule 6[F5;
(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.
Textual Amendments
F1S. 23(1) substituted (26.11.2008) by Pensions Act 2008 (c. 30), {ss, 86(2)}, 149(2)(b)
F2S. 23(2)-(4) repealed (26.11.2008) by Pensions Act 2008 (c. 30), ss. 86(3), 149(1)(2)(b)(i), Sch. 11 Pt. 1
F3Words in s. 23(5)(a) inserted (26.11.2008) by Pensions Act 2008 (c. 30), {ss, 86(4)}, 149(2)(b)
F4Words in s. 23(7) renumbered (26.11.2008) as s. 23(7)(a) by Pensions Act 2008 (c. 30), ss. 86(5)(a), 149(2)(b)
F5S. 23(7)(b) and semi-colon inserted (26.11.2008) by Pensions Act 2008 (c. 30), ss. 86(5)(b), 149(2)(b)