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Pensions Act 2004
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Changes over time for: Section 185
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Changes to legislation:
Pensions Act 2004, Section 185 is up to date with all changes known to be in force on or before 24 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Section 185:
- s. 182-186 modified by S.I. 2005/2184 reg. 10
- s. 182-186 modified by S.I. 2005/2184 reg. 13
- s. 182-186 modified by S.I. 2005/2184 reg. 14
- s. 182-186 modified by S.I. 2005/2184 reg. 15
- s. 182-186 modified by S.I. 2005/2184 reg. 16
- s. 182-186 modified by S.I. 2005/2184 reg. 17
- s. 182-186 modified by S.I. 2005/2184 reg. 18
- s. 182-186 modified by S.I. 2005/2184 reg. 19
- s. 182-186 modified by S.I. 2005/2184 reg. 20
- s. 184-186 modified by S.I. 2005/2184 reg. 11
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 18(5A) inserted by 2014 c. 19 s. 52(2)
- s. 18(6) words inserted by 2014 c. 19 s. 52(3)
- s. 18(8) words inserted by 2014 c. 19 s. 52(3)
- s. 23(1A) inserted by 2015 c. 8 Sch. 2 para. 26(3)
- s. 23(10A) inserted by 2015 c. 8 Sch. 2 para. 26(5)
- s. 38(1)-(1B) substituted for s. 38(1) by 2015 c. 8 Sch. 2 para. 27
- s. 38(7)(da) inserted by 2021 c. 1 s. 104(2)
- s. 43(1)-(1B) substituted for s. 43(1) by 2015 c. 8 Sch. 2 para. 28(2)
- s. 52(1)-(1B) substituted for s. 52(1) by 2015 c. 8 Sch. 2 para. 29
- s. 80(1)(a)(iib) inserted by 2021 c. 1 s. 109(3)
- s. 102(2)(a) words in s. 102(2) renumbered as s. 102(2)(a) by 2008 c. 30 s. 44(5)(a)
- s. 102(2)(b) inserted by 2008 c. 30 s. 44(5)(b)
- s. 103(1A) inserted by 2008 c. 30 s. 44(6)
- s. 117A inserted by 2008 c. 30 Sch. 10 para. 3
- s. 126(1)-(1B) substituted for s. 126(1) by 2015 c. 8 Sch. 2 para. 31
- s. 188(1)(ba) inserted by 2008 c. 30 Sch. 10 para. 6
- s. 189A inserted by 2008 c. 30 Sch. 10 para. 7
- s. 209(9) added by 2008 c. 30 Sch. 10 para. 8
- s. 291(4)(f) and word inserted by 2021 c. 1 Sch. 3 para. 19(b)
- s. 318(3)(a)(viii)-(x) inserted by 2015 c. 8 Sch. 2 para. 38(3)(a)
- s. 318(3)(b)(vi)-(viii) inserted by 2015 c. 8 Sch. 2 para. 38(3)(b)
- Sch. 4 para. 7(5)(b) inserted by 2008 c. 30 s. 44(8)(b)
- Sch. 4 para. 13(3) inserted by 2008 c. 30 s. 44(9)(b)
- Sch. 4 para. 7(5)(a) words in Sch. 4 para. 7(5) renumbered as Sch. 4 para. 7(5)(a) by 2008 c. 30 s. 44(8)(a)
- Sch. 7 para. 21(2)(c)-(cc) substituted for Sch. 7 para. 21(2)(b)(c) by 2008 c. 30 Sch. 8 para. 11 (This amendment not applied to legislation.gov.uk. Sch. 8 para. 10 (3.1.2012) omitted without ever being in force by virtue of 2011 c. 19, Sch. 4 para. 20; S.I. 2011/3034 art. 3(i)(iv))
185Fraud compensation paymentsE+W+S
This section has no associated Explanatory Notes
(1)Where the Board determines to make one or more fraud compensation payments, it must make the payment or payments to the trustees or managers of the scheme in accordance with this section.
(2)A fraud compensation payment may be made on such terms (including terms requiring repayment in whole or in part) and on such conditions as the Board considers appropriate.
(3)The amount of the payment (or, if there is more than one, the aggregate) must not exceed the difference between—
(a)the amount of the reduction (or, if more than one, the aggregate amount of the reductions) within section 182(1)(b), and
(b)the amount of any recoveries of value obtained before the settlement date (within the meaning of section 184(2)).
(4)Subject to subsection (3), the Board—
(a)must determine the amount of any fraud compensation payment in accordance with regulations made for the purposes of this subsection, and
(b)must take account of any interim payment already made under section 186.
(5)The Board must give written notice of its determination under subsection (4) to—
(a)the Regulator,
(b)the trustees or managers of the scheme,
(c)if the trustees or managers did not make the application under section 182 (fraud compensation payments), the person who made that application, and
(d)any insolvency practitioner in relation to the employer or, if there is no such insolvency practitioner, the employer.
Modifications etc. (not altering text)
C1Pt. 2 applied in part (with modifications) (20.7.2005 for specified purposes, 1.9.2005 for specified purposes, 5.12.2005 for specified purposes) by The Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986), regs. 1(1), 4, Sch. 1
C2Ss. 182-187: power to modify conferred (5.9.2018 for specified purposes, 1.10.2018 so far as not already in force) by Pension Schemes Act 2017 (c. 17), ss. 36(1), 44(2); S.I. 2018/965, reg. 2
C3S. 185 modified (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 23(1)(2)(a)(v)
Commencement Information
I1S. 185 in force at 12.7.2005 for specified purposes by S.I. 2005/1720, art. 2(3)(a)
I2S. 185 in force at 1.9.2005 in so far as not already in force by S.I. 2005/1720, art. 2(3)(a)
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