128 Duty to assume responsibility for schemes following application or notification
Pensions Act 2004 (2004 c 35) | Legislation

128  Duty to assume responsibility for schemes following application or notification

(1)     This section applies where, in relation to an eligible scheme, the trustees or managers of the scheme—

(a)     make an application under subsection (1) of section 129 (a “section 129 application”), or

(b)     receive a notice from the Board under subsection (5)(a) of that section (a “section 129 notification”).

(2)     The Board must assume responsibility for the scheme in accordance with this Chapter if—

(a)     the value of the assets of the

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Sentencing fraud offences committed by individuals

Sentencing fraud offences committed by individualsThe Sentencing Council (SC) has produced sentencing guidelines for fraud offences under the Fraud Act 2006 (fraud by false representation, fraud by failing to disclose information and fraud by abuse of position), false accounting under section 17 of

LEXISNEXIS

Fiduciary Duties

Fiduciary DutiesWho is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business

LEXISNEXIS

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or cancelling their debt claims against the company (and the rest of the group).Many highly levered deals have thin equity cushions and

LEXISNEXIS

Negligence—when is the duty of care breached?

Negligence—when is the duty of care breached?Having established that a duty of care exists (see Practice Note: Negligence—when does a duty of care arise?), it is then necessary to consider whether or not there has been a breach of that duty. This will depend on a number of factors outlined below and