Part 1The Pensions Regulator

Financial support directions

51Sections 43 to 50: interpretation

F1(1)

In sections 43 to 50—

“group of companies” means a holding company and its subsidiaries (and references to a member of a group of companies are to be read accordingly); and

“holding company” and “subsidiary” have the meaning given by section 1159 of the Companies Act 2006.

(2)

For the purposes of those sections—

(a)

references to a debt due under section 75 of the Pensions Act 1995 (c. 26) include a contingent debt under that section, and

(b)

references to the amount of such a debt include the amount of such a contingent debt.

(3)

For the purposes of those sections—

(a)

section 249 of the Insolvency Act 1986 (c. 45) (connected persons) applies as it applies for the purposes of any provision of the first Group of Parts of that Act,

(b)

section 435 of that Act (associated persons) applies as it applies for the purposes of that Act, and

(c)

section F2229 of the Bankruptcy (Scotland) Act 2016 (associated persons) applies as it applies for the purposes of that Act.