107 Sanctions for avoidance of employer debt etc
Pension Schemes Act 2021 (2021 c 1) | Legislation

Sanctions for avoidance of employer debt etc

107  Sanctions for avoidance of employer debt etc

(1)     The Pensions Act 2004 is amended as follows.

(2)     After section 58 insert—

“Sanctions for avoidance of employer debt etc
58A Offence of avoidance of employer debt

(1)     This section applies in relation to an occupational pension scheme other than—

(a)     a money purchase scheme, or

(b)     a prescribed scheme or a scheme of a prescribed description.

(2)     A person commits an offence only if—

(a)     the person does an act or engages in a course of conduct that—

(i)     prevents the recovery of the whole or any part of a debt which is due from the employer in relation to the scheme under section 75 of the Pensions Act 1995 (deficiencies in the scheme assets),

(ii)     prevents such a debt becoming due,

(iii)     compromises or otherwise settles such a debt, or

(iv)     reduces the amount of such a debt which would otherwise become due,

(b)     the person intended the act or course of conduct to have such an effect, and

(c)     the person did not have a reasonable excuse for doing the act or engaging in the course of conduct.

(3)

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