The Pension Protection Fund (Entry Rules) Regulations 2005

Applications for reconsideration E+W+S

24.—(1) An application for reconsideration under section 151 of the Act (application for reconsideration) shall be made in writing and shall be accompanied by—

[F1 (a) either–

(i) a protected benefits quotation in relation to the scheme, or

(ii) written evidence which shows that the trustees or managers of the scheme have taken all reasonable steps to obtain a protected benefits quotation but were unable to do so, and]

(b) audited scheme accounts in relation to the scheme for the period which—

(i) begins with the date of the last audited scheme accounts in relation to the scheme, and

(ii) ends [F2 with any day] within the period of six months preceding the date on which the application is made.

(2) An application for reconsideration shall contain the following information—

(a) a description of the type or purpose of the application;

(b) the name, address and pension scheme registration number of the scheme in respect of which the application is made;

(c) the name and address of the employer in relation to the scheme;

(d) the name and address of the trustees or managers of the scheme in respect of which the application is made;

(e) the date on which the trustees or managers of the scheme received a binding scheme failure notice issued by the Board in respect of the scheme;

(f) the date on which the trustees or managers of the scheme received a binding valuation notice [F3 under section 145(3) or a binding determination notice under section 143A(4)] issued by the Board in respect of the scheme;

(g) the date on which the application was sent to the Board by the trustees or managers of the scheme;

(h) [F4 where the application is accompanied by a protected benefits quotation,] the cost quoted in the protected benefits quotation which accompanies the application;

(i) [F4 where the application is accompanied by a protected benefits quotation,] the value of the assets of the scheme adjusted to take into account any outstanding liabilities of the scheme which are not covered by the protected benefits quotation which accompanies the application; and

(j) the estimated cost of winding the scheme up.

(3) The prescribed period referred to in section 151(6) of the Act as “the authorised period” for making an application for reconsideration is the period of six months.

Textual Amendments

F1 Reg. 24(1)(a) substituted (24.1.2013) by The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012 (S.I. 2012/3083), regs. 1(2)(b), 3(2), 9(1)(c)(2) (with reg. 10)

F2 Words in reg. 24(1)(b)(ii) substituted (1.4.2005) by The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 (S.I. 2005/993), regs. 1(1), 4(i)

F3 Words in reg. 24(2)(f) inserted (24.1.2013) by The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012 (S.I. 2012/3083), regs. 1(2)(b), 3(3)(a), 9(1)(c)(2) (with reg. 10)

F4 Words in reg. 24(2)(h)(i) inserted (24.1.2013) by The Pension Protection Fund (Miscellaneous Amendments) (No. 2) Regulations 2012 (S.I. 2012/3083), regs. 1(2)(b), 3(3)(b), 9(1)(c)(2) (with reg. 10)