130 Board's duty where application or notification received under section 129
Pensions Act 2004 (2004 c 35) | Legislation

130  Board's duty where application or notification received under section 129

(1)     This section applies where the Board—

(a)     receives an application under subsection (1) of section 129 and is satisfied that paragraphs (a) and (b) of that subsection are satisfied in relation to the application, or

(b)     is notified by the Regulator under section 129(4).

(2)     If the Board is able to confirm that a scheme rescue is not possible, it must as soon as reasonably practicable issue a notice to that effect (a “scheme failure notice”).

(3)     If the Board is able to confirm that a scheme rescue has occurred,

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