258.—(1) The Pension Schemes (Northern Ireland) Act 1993 is amended as follows.
(2) In section 119 (as amended by paragraph 256(2))—
(a)in subsection (1)(d) for “(1A)” substitute “ (1ZA) or (1A) ”;
(b)after subsection (1) insert—
“(1ZA) This subsection is satisfied in the case of an employer if—
(a)the employer is a legal person,
(b)a request has been made for the first opening of collective proceedings—
(i)based on the insolvency of the employer, as provided for under the law of any part of the United Kingdom, and
(ii)involving the partial or total divestment of the employer's assets and the appointment of a liquidator or a person performing a similar task, and
(c)any of the following has decided to open the proceedings—
(i)a court,
(ii)a meeting of creditors, or
(iii)the creditors by a decision procedure.”; and
(c)in subsection (1B) for “subsection (1A)” substitute “ this section ”.
Commencement Information
I1Sch. para. 258 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)