Part 3

Personal Accounts Delivery Authority

Personal Accounts Delivery Authority
20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Initial function of the Authority
21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Management of the Authority
22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Winding up of the Authority
23
1
The Secretary of State may by order provide for the winding up and dissolution of the Authority.
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
An order under this section may, in particular—
a
provide for the transfer of property, rights or liabilities of the Authority to the Secretary of State or any other person;
b
provide, in connection with provision made under paragraph (a)—
i
for the creation of interests in property transferred;
ii
for the creation of rights and liabilities in relation to such property;
iii
for interests, rights and liabilities to be extinguished;
c
provide for the payment by the Secretary of State or the Authority of compensation to any person who suffers loss or damage as a result of the provision made for the winding up of the Authority.
6
An order under this section may make—
a
such consequential, incidental or supplemental provision, and
b
such transitional, transitory or saving provision,
as the Secretary of State thinks necessary or expedient in connection with, or in consequence of, the winding up and dissolution of the Authority.
7
An order under this section may also contain provision repealing any provision of
a
sections 20 to 22 or Schedule 6;
b
sections 79 to 85 of the Pensions Act 2008.
8
No order may be made under this section unless a draft of the order has been laid before and approved by a resolution of each House of Parliament.
S. 20 repealed (5.7.2010) by The Personal Accounts Delivery Authority Winding Up Order 2010 (S.I. 2010/911), art. 8(1)(a)
S. 21 repealed (26.11.2008) by Pensions Act 2008 (c. 30), ss. 79, 148, 149(1)(2)(b)(i), Sch. 11 Pt. 1
S. 22 repealed (5.7.2010) by The Personal Accounts Delivery Authority Winding Up Order 2010 (S.I. 2010/911), art. 8(1)(a)
S. 23(1) substituted (26.11.2008) by Pensions Act 2008 (c. 30), {ss, 86(2)}, 149(2)(b)
S. 23(2)-(4) repealed (26.11.2008) by Pensions Act 2008 (c. 30), ss. 86(3), 149(1)(2)(b)(i), Sch. 11 Pt. 1
Words in s. 23(5)(a) inserted (26.11.2008) by Pensions Act 2008 (c. 30), {ss, 86(4)}, 149(2)(b)
Words in s. 23(7) renumbered (26.11.2008) as s. 23(7)(a) by Pensions Act 2008 (c. 30), ss. 86(5)(a), 149(2)(b)
S. 23(7)(b) and semi-colon inserted (26.11.2008) by Pensions Act 2008 (c. 30), ss. 86(5)(b), 149(2)(b)