14B.—(1) Where the scheme manager is satisfied that—
(a)the trustees or managers of a qualifying pension scheme are not able to pay or meet administration or other costs which have been incurred or which are likely to be incurred in relation to that scheme from the assets of the scheme; and
(b)paying or meeting those administration or other costs is necessary in order to—
(i)assist the scheme in winding-up;
(ii)keep any reduction in the scheme’s assets to a minimum; or
(iii)increase the scheme’s assets,
the scheme manager may, on an application by the trustees or managers, pay to them such amounts as it considers appropriate for the purpose of enabling the trustees or managers to pay or meet those costs.
(2) The scheme manager may make a payment under paragraph (1) on such terms as the scheme manager thinks fit.]
Textual Amendments
F1Reg. 14A - Reg. 14B inserted (10.7.2009) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009 (S.I. 2009/1851), regs. 1, 10 (with reg. 37)