PART 3QUALIFYING PENSION SCHEMES
F1Employer-related condition12A
1
The condition to be satisfied for the purposes of regulation 9(1)(c)(iii) is that the employer discharged the debt due under section 144 of the 1993 Act or that no debt was due under that section when the scheme began to wind up.
2
The condition to be satisfied for the purposes of regulation 9(1)(c)(v) is that the employer discharged the debt due under section 75 of the 1995 Act or that no debt was due under that section when the scheme began to wind up.
3
The scheme manager may treat the condition in paragraph (1) or (2) as being satisfied where—
a
F2it is satisfied that an appropriate proportion of the debt was discharged or is likely to be discharged; and
b
in F3its opinion, it was reasonable that the debt due under section 144 of the 1993 Act, or section 75 of the 1995 Act as appropriate, has not been discharged.
4
In this regulation the reference to the employer shall be interpreted in accordance with regulation 11(2).