# The Pensions (Northern Ireland) Order 2005, Article 268: Power of Regulator to require ring-fencing of assets


(1) Where the trustees or managers of an occupational pension scheme receive contributions to the scheme from a European employer, the Regulator may in prescribed circumstances issue a notice (“a ring-fencing notice”) to the trustees or managers of the scheme directing them to take, or refrain from taking, such steps of a prescribed description as are specified in the notice for the purpose of ring-fencing some or all of the assets or liabilities (or both) of the scheme.
(2) In paragraph (1), “ring-fencing” has the same meaning as in the Directive.
(3) If the trustees or managers of an occupational pension scheme fail to comply with a ring-fencing notice given to them, Article 10 of the 1995 Order (civil penalties) applies to any trustee or manager who has failed to take all reasonable steps to secure compliance.

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Source: https://www.legislation.gov.uk/ukdsi/2005/0110490924/article/268 (the official version)
Page: https://openlegislation.uk/draft-pensions-northern-ireland-order-2005/article-268
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.