151 Application for reconsideration
Pensions Act 2004 (2004 c 35) | Legislation

Reconsideration

151  Application for reconsideration

(1)     Where subsection (2) or (3) applies in relation to an eligible scheme, the trustees or managers of the scheme may make an application to the Board under this section for it to assume responsibility for the scheme in accordance with this Chapter.

(2)     This subsection applies where—

(a)     a scheme failure notice has been issued under section 122(2)(a) in relation to the scheme, that notice has become binding and the trustees or managers have received a copy of the binding notice under section 125(3),

(b)     [the determination made by the Board or valuation obtained by the Board in respect of the scheme under section 143(2)] has become binding, and

(c)     the Board would have been required to assume responsibility for the scheme under section 127 but for the fact that the condition in subsection (2)(a) of that section was not satisfied.

(3)     This subsection applies where—

(a)     the Board has issued a scheme failure notice under subsection (2) of section 130 in relation to the scheme, that notice has become binding and the trustees or managers have received a copy of the binding notice under subsection (7) of that section,

(b)     [the determination

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