Search Legislation

Pension Schemes Act 2021

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 42

 Help about opening options

Version Superseded: 01/08/2022

Alternative versions:

Status:

Point in time view as at 11/02/2021. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Pension Schemes Act 2021, Section 42. Help about Changes to Legislation

42Prohibition on winding up except in accordance with continuity option 1E+W+S

This section has no associated Explanatory Notes

(1)A person may wind up a collective money purchase scheme only in accordance with continuity option 1 (see section 36).

(2)Subsection (1) overrides any provision of a collective money purchase scheme to the extent that there is a conflict.

(3)Section 10 of the Pensions Act 1995 (civil penalties) applies to a person who fails to comply with subsection (1).

Commencement Information

I1S. 42 in force at Royal Assent for specified purposes, see s. 131(3)(a)

Back to top

Options/Help