F1Arts. 54A, 54B and cross-heading inserted (1.10.2021) by Pension Schemes Act 2021 (c. 1), s. 131(2)(b), Sch. 8 para. 6(1); S.R. 2021/271, art. 2(3)(d) (with art. 3(1)(4))
54A—(1) This Article applies in relation to an occupational pension scheme other than—N.I.
(a)a money purchase scheme, or
(b)a prescribed scheme or a scheme of a prescribed description.
(2) A person commits an offence only if—
(a)the person does an act or engages in a course of conduct that—
(i)prevents the recovery of the whole or any part of a debt which is due from the employer in relation to the scheme under Article 75 of the 1995 Order (deficiencies in the scheme assets),
(ii)prevents such a debt becoming due,
(iii)compromises or otherwise settles such a debt, or
(iv)reduces the amount of such a debt which would otherwise become due,
(b)the person intended the act or course of conduct to have such an effect, and
(c)the person did not have a reasonable excuse for doing the act or engaging in the course of conduct.
(3) A reference in this Article to an act or course of conduct includes a failure to act.
(4) This Article does not apply to a person if the act done, or course of conduct engaged in, by the person is in accordance with the person's functions as an insolvency practitioner in relation to another person.
(5) For the purposes of this Article a reference to a debt due under Article 75 of the 1995 Order includes a contingent debt under that Article.
(6) Accordingly, in the case of such a contingent debt, the reference in paragraph (2)(a) to preventing a debt becoming due is to be read as including a reference to preventing the occurrence of any of the events specified in Article 75(4C)(a) or (b) of the 1995 Order upon which the debt is contingent.
(7) A person guilty of an offence under paragraph (2) is liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum;
(b)on conviction on indictment, to imprisonment for a term not exceeding seven years or a fine, or both.
(8) Proceedings for an offence under paragraph (2) may be instituted only—
(a)by the Regulator or the Department, or
(b)by or with the consent of the Director of Public Prosecutions for Northern Ireland.
(9) For the purposes of this Article and Articles 54B to 54D “insolvency practitioner”, in relation to a person, means—
(a)a person acting as an insolvency practitioner, in relation to that person, in accordance with Article 3 of the Insolvency Order, or
(b)an insolvency practitioner within the meaning of Article 105(9)(b) (persons of a prescribed description).]