Finance Act 2014

Orders for money etc to be restored to pension schemes

15 (1) Section 266B (scheme’s liability) is amended as follows.

(2) In subsection (1)(b) for the words from “an order” to “Regulator)” substitute “a relevant order”.

(3) In subsection (3), in the definition of “ASO”—

(a) before the first “order” insert “relevant”, and

(b) for the words from the second “order” to “2005” substitute “relevant order”.

(4) After subsection (4) insert—

“(5) In this section “relevant order” means an order under any of the following—

(a) section 16(1), 19(4) or 21(2)(a) of the Pensions Act 2004 (orders for money etc to be restored to pension schemes), or

(b) Article 12(1), 15(4) or 17(2)(a) of the Pensions (Northern Ireland) Order 2005 (corresponding provision for Northern Ireland).”