11 Powers to wind up schemes
Pensions Act 1995 (1995 c 26) | Legislation

11  Powers to wind up schemes

(1)     Subject to the following provisions of this section, the Authority may by order direct or authorise an occupational pension scheme to be wound up if they are satisfied that—

(a)     the scheme, or any part of it, ought to be replaced by a different scheme,

(b)     the scheme is no longer required, or

(c)     it is necessary in order to protect the interests of the generality of the members of the scheme that it be wound up.

(2)     The Authority may not make an order under this section on either of the grounds referred to in subsection (1)(a) or (b) unless they are satisfied that the winding up of the scheme—

(a)     cannot be achieved otherwise than by means of such an order, or

(b)     can only be achieved in accordance with a procedure which—

(i)     is liable to be unduly complex or protracted, or

(ii)     involves the obtaining of consents which

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