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Pension Schemes Act (Northern Ireland) 2016

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This is the original version (as it was originally enacted).

Requirement to wind up scheme in specified circumstances

This section has no associated Explanatory Notes

27.—(1) Regulations may require the trustees or managers of a pension scheme under which collective benefits may be provided to wind up the whole or part of the scheme in specified circumstances.

(2) The regulations may, in particular—

(a)provide for the winding up of the scheme or part to be as effective in law as if it had been made under powers conferred by or under the scheme;

(b)require the scheme or part to be wound up in spite of any legislative provision, rule of law or provision of a scheme, which would otherwise operate to prevent the winding up;

(c)require the scheme or part to be wound up without regard to any legislative provision, rule of law or provision of a scheme that would otherwise require, or might otherwise be taken to require, the implementation of any procedure or the obtaining of any consent with a view to the winding up.

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