120Duty to notify insolvency events in respect of employers
This section has no associated Explanatory Notes
(1)This section applies where, in the case of an occupational pension scheme, an insolvency event occurs in relation to the employer.
(2)The insolvency practitioner in relation to the employer must give a notice to that effect within the notification period to—
(a)the Board,
(b)the Regulator, and
(c)the trustees or managers of the scheme.
(3)For the purposes of subsection (2) the “notification period” is the prescribed period beginning with the later of—
(a)the insolvency date, and
(b)the date the insolvency practitioner becomes aware of the existence of the scheme.
(4)A notice under this section must be in such form and contain such information as may be prescribed.