C1C2 PART IIITHE BOARD OF THE PENSION PROTECTION FUND

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Modifications etc. (not altering text)

C2CHAPTER 3PENSION PROTECTION

The levies

Supplementary provisions about pension protection levies159

1

The Board must consult such persons as it considers appropriate in the prescribed manner before making a determination under Article 158(5) in respect of a financial year if—

a

that year is the first financial year for which the Board is required to impose levies under Article 158,

b

any of the proposed levy factors or levy rates is different, or applies to a different description of scheme, from the levy factors and levy rates in respect of the pension protection levies imposed in the previous financial year, or

c

no consultation has been required under this paragraph in relation to the pension protection levies imposed for either of the previous two financial years.

2

The Board must publish details of any determination under Article 158(5) in the prescribed manner.