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- Original (As enacted)
This is the original version (as it was originally enacted).
(1)Section 38 of the Pensions Act 2004 (contribution notices where avoidance of employer debt) is amended as follows.
(2)In subsections (5)(c)(i) and (6)(b)(ii) for “determination by the Regulator to exercise the power to issue” substitute “giving of a warning notice in respect of”.
(3)After subsection (13) insert—
“(14)In this section “a warning notice” means a notice given as mentioned in section 96(2)(a).”
(4)Section 43 of the Pensions Act 2004 (financial support directions) is amended as follows.
(5)In subsection (9) for “determination by the Regulator to exercise the power to issue” substitute “giving of a warning notice in respect of”.
(6)After subsection (11) insert—
“(12)In this section “a warning notice” means a notice given as mentioned in section 96(2)(a).”
(7)In section 96 of the Pensions Act 2004 (exercise of regulatory functions: standard procedure) after subsection (6) insert—
“(6A)Subsection (6B) applies in relation to a warning notice given to a person—
(a)in respect of a contribution notice under section 38, or
(b)in respect of a financial support direction under section 43.
(6B)Regulations may provide that no determination notice in respect of the contribution notice or the financial support direction may be given after the end of the prescribed period beginning with the day on which the warning notice is given.”
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