- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
13. The Regulatory Authority may grant an extension of the period mentioned in section 99(2)(a) or, as the case may be, (b) of the 1993 Act (trustees’ duties after exercise of option) if the trustees have within that period applied to the Regulatory Authority for an extension and—
(a)the Regulatory Authority is satisfied that—
(i)the scheme is being wound up or is about to be wound up,
(ii)the scheme is ceasing to be a contracted-out scheme,
(iii)the interests of the members of the scheme generally will be prejudiced if the trustees do what is needed to carry out what is required within that period,
(iv)the member has not taken all such steps as the trustees can reasonably expect in order to satisfy them of any matter which falls to be established before they can properly carry out what the member requires,
(v)the trustees have not been provided with such information as they reasonably require properly to carry out what the member requires, or
(vi)the member’s guaranteed cash equivalent has been reduced or increased under regulation 9 or the member has disputed the amount of the cash equivalent;
(b)the provisions of section 53 of the 1993 Act(1) (supervision of formerly certified schemes) apply; or
(c)an application has been made for an extension on a ground specified in paragraph (a) or (b) and the Regulatory Authority’s consideration of the request cannot be completed before the end of that period.
Section 53 was amended by paragraph 48 of Schedule 5 to the Pensions Act 1995.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: