SCHEDULE 4 Pension Protection Fund
Pensions Act 2011 (2011 c 19) | Legislation

SCHEDULE 4 Pension Protection Fund

Section 22

Requirements to obtain actuarial valuations

1

The Pensions Act 2004 is amended as follows.

2

In section 58(3) (right to apply under section 423 of the Insolvency Act 1986)—

(a)     for the words from “an actuarial†to the first “scheme†substitute “a determination made, or actuarial valuation obtained, in respect of the scheme by the Board of the Pension Protection Fund under section 143(2)â€, and

(b)     for “that section†substitute “section 143â€.

3

(1)     Section 141 (effect of review of ill-health pension) is amended as follows.

(2)     In subsection (4) after “which†insert “a determination under section 143(2)(a) orâ€.

(3)     In subsection (5)(a) after “first†insert “makes a determination under section 143(2)(a) orâ€.

4

In section 142(1) (interpretation) in the definition of “scheme valuation†for “143†substitute “143(2)(b)â€.

5

(1)     Section 143 (Board's obligation to obtain valuation of assets and protected liabilities) is amended as follows.

(2)     For subsection (2) substitute—

“(2)     The Board must, as soon as reasonably practicable—

(a)     determine whether the condition in subsection (2)(a) of the section in question is satisfied, or

(b)     for the purposes of determining whether that condition

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