93Prohibition on winding up except in accordance with continuity option 1N.I.
This section has no associated Explanatory Notes
(1)A person may wind up a collective money purchase scheme only in accordance with continuity option 1 (see section 87).
(2)Subsection (1) overrides any provision of a collective money purchase scheme to the extent that there is a conflict.
(3)Article 10 of the Pensions (Northern Ireland) Order 1995 (civil penalties) applies to a person who fails to comply with subsection (1).
Commencement Information
I1S. 93 in force at Royal Assent for specified purposes, see s. 131(3)(a)
I2S. 93 in force at 1.8.2022 in so far as not already in force by S.R. 2022/197, art. 3(a)