15 Excessive pension contributions made by persons who have become bankrupt
Welfare Reform and Pensions Act 1999 (1999 c 30) | Legislation

15  Excessive pension contributions made by persons who have become bankrupt

For sections 342A to 342C of the Insolvency Act 1986 there shall be substituted—

“342A Recovery of excessive pension contributions

(1)     Where an individual who is adjudged bankrupt—

(a)     has rights under an approved pension arrangement, or

(b)     has excluded rights under an unapproved pension arrangement,

the trustee of the bankrupt's estate may apply to the court for an order under this section.

(2)     If the court is satisfied—

(a)     that the rights under the arrangement are to any extent, and whether directly or indirectly, the fruits of relevant contributions, and

(b)     that the making of any of the relevant contributions (“the excessive contributions”) has unfairly prejudiced the individual's creditors,

the court may make such order as it thinks fit for restoring the position to what it would have been had the excessive contributions not been made.

(3)     Subsection (4) applies where the court is satisfied that the value of the rights under the arrangement is, as a result of rights of the individual under the arrangement or any other pension arrangement having at any time become subject to a debit under section 29(1)(a) of the Welfare Reform

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