http://www.legislation.gov.uk/ukpga/2004/35/section/21/2012-01-01Pensions Act 2004An Act to make provision relating to pensions and financial planning for retirement and provision relating to entitlement to bereavement payments, and for connected purposes.texttext/xmlenStatute Law Database2026-04-17Expert Participation2012-01-01 Pensions Act 2004s. 102(2)(a)Pensions Act 2008s. 44(5)(a)s. 149(1)art. 2Sch. 2Pensions Act 2004s. 102(2)(b)Pensions Act 2008s. 44(5)(b)s. 149(1)art. 2Sch. 2Pensions Act 2004s. 103(1A)Pensions Act 2008s. 44(6)s. 149(1)art. 2Sch. 2Pensions Act 2004s. 117APensions Act 2008Sch. 10 para. 3s. 149(1)Pensions Act 2004s. 188(1)(ba)Pensions Act 2008Sch. 10 para. 6s. 149(1)Pensions Act 2004s. 189APensions Act 2008Sch. 10 para. 7s. 149(1)Pensions Act 2004s. 209(9)Pensions Act 2008Sch. 10 para. 8s. 149(1)Pensions Act 2004Sch. 4 para. 7(5)(a)Pensions Act 2008s. 44(8)(a)s. 149(1)art. 2Sch. 2Pensions Act 2004Sch. 4 para. 7(5)(b)Pensions Act 2008s. 44(8)(b)s. 149(1)art. 2Sch. 2Pensions Act 2004Sch. 4 para. 13(3)Pensions Act 2008s. 44(9)(b)s. 149(1)art. 2Sch. 2Pensions Act 2004Sch. 7 para. 21(2)(c)-(cc)Pensions Act 2008Sch. 8 para. 11s. 149(1)Pensions Act 2004s. 38(7)(da)Pension Schemes Act 2021s. 104(2)s. 131(1)Pensions Act 2004s. 80(1)(a)(iib)Pension Schemes Act 2021s. 109(3)s. 131(1)Pensions Act 2004s. 291(4)(f) and wordPension Schemes Act 2021Sch. 3 para. 19(b)s. 131(1)s. 131(3)(a)Pensions Act 2004s. 23(1A)Pension Schemes Act 2015Sch. 2 para. 26(3)s. 87s. 89(4)(a)Pensions Act 2004s. 23(10A)Pension Schemes Act 2015Sch. 2 para. 26(5)s. 87s. 89(4)(a)Pensions Act 2004s. 38(1)-(1B)Pension Schemes Act 2015Sch. 2 para. 27s. 87s. 89(4)(a)Pensions Act 2004s. 43(1)-(1B)Pension Schemes Act 2015Sch. 2 para. 28(2)s. 87s. 89(4)(a)Pensions Act 2004s. 52(1)-(1B)Pension Schemes Act 2015Sch. 2 para. 29s. 87s. 89(4)(a)Pensions Act 2004s. 126(1)-(1B)Pension Schemes Act 2015Sch. 2 para. 31s. 87s. 89(4)(a)Pensions Act 2004s. 318(3)(a)(viii)-(x)Pension Schemes Act 2015Sch. 2 para. 38(3)(a)s. 87s. 89(4)(a)Pensions Act 2004s. 318(3)(b)(vi)-(viii)Pension Schemes Act 2015Sch. 2 para. 38(3)(b)s. 87s. 89(4)(a)Pensions Act 2004s. 18(5A)Pensions Act 2014s. 52(2)s. 56(1)art. 2Pensions Act 2004s. 18(6)Pensions Act 2014s. 52(3)s. 56(1)art. 2Pensions Act 2004s. 18(8)Pensions Act 2014s. 52(3)s. 56(1)art. 2Pensions Act 2004s. 318(3)(a)(xvi)The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025reg. 80(3)(a)(ii)reg. 1(3)Pensions Act 2004s. 318(3)(b)(xiii)The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025reg. 80(3)(b)(ii)reg. 1(3) Part 1211Subsections (2) and (3) apply where—aa restraining order has effect, andbthe Regulator is satisfied that the restrained account contains an amount of money liberated from a pension scheme.2The Regulator may by order—adirect the deposit-taker concerned to pay from the account a sum not exceeding that amount—itowards a pension scheme,iitowards an annuity or insurance policy, oriiito the liberated member, andbwhere it makes an order under paragraph (a)(i), direct the trustees or managers of the scheme to apply the sum, in such manner as the Regulator may direct, for the purpose of providing benefits under the scheme to or in respect of the liberated member.3If it appears to the Regulator, on taking an overall view of transactions taking place before the restraining order was made, that there are two or more individuals each of whom is a person who is or may be the liberated member in relation to some of the money, the Regulator may determine the sums to be paid from the restrained account under subsection (2) on any basis that appears to the Regulator to be just and reasonable.4Regulations may modify any of the provisions of the Pension Schemes Act 1993 (c. 48) as it applies in relation to cases where an order is made under subsection (2)(b).5Section 10 of the Pensions Act 1995 (c. 26) (civil penalties) applies to a deposit-taker who, without reasonable excuse, fails to comply with a direction given to him under subsection (2)(a).6If the trustees or managers of a pension scheme fail to comply with a direction given to them under subsection (2)(b), that section applies to any trustee or manager who has failed to take all reasonable steps to secure compliance.7In this section “restrained account” has the meaning given by section 20.S. 21(4) for the purpose only of conferring power to make regulations, orders or rules, as the case may be, 10.2.2005; and for all other purposes, 6.4.2005 by S.I. 2005/275, art. 2(3), Sch. Pt. 3S. 21(1)-(3)(5)-(7) in force at 6.4.2005 by S.I. 2005/275, art. 2(7), Sch. Pt. 7Pt. 1 applied in part (with modifications) (20.7.2005 for specified purposes, 1.9.2005 for specified purposes, 5.12.2005 for specified purposes) by The Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986), regs. 1(1), 4, Sch. 1 Pt. 1 (as amended (17.7.2008) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2008 (S.I. 2008/1903), regs. 1, 5(2), 13; (10.7.2009) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009 (S.I. 2009/1851), regs. 1, 5, 18; (2.4.2010) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/1149), regs. 1, 5, 15)