This section has no associated Explanatory Memorandum
15. In this Schedule “indemnity or bond in an approved form” means an indemnity or bond, payable to the pension fund, to meet a level of risk exposure arising on insolvency, winding up or liquidation of the admission body, actuarially assessed to the satisfaction of the Committee and employing authority in the case of an admission body under paragraph 2(1)(h) of Part 1 of this Schedule.