Regulation 26 Binding valuationF1
A valuation obtained under regulation 22 is not binding until—
it is approved under regulation 25;
the period within which an application for a review of the approval of the valuation may be made under regulation 5 of the Financial Assistance Scheme (Internal Review) Regulations 2005 (time for making an application for a review of a reviewable determination) has expired; and
where an application referred to in sub-paragraph (b) is made—
the internal review;
any appeal to the Ombudsman in respect of the approval; and
any appeal against any determinations or directions given or made by the Ombudsman in respect of such an appeal,
has been finally disposed of.
Where a valuation becomes binding under this regulation the scheme manager must as soon as reasonably practicable give a notice to that effect together with a copy of the binding valuation to—
the trustees or managers of the qualifying pension scheme; and
the Regulator.
The notice given by the scheme manager under paragraph (2) shall contain—
a statement that it is a notice under regulation 26 of the Financial Assistance Scheme Regulations 2005;
the date on which the notice is given;
the name, address and pension scheme registration number of the qualifying pension scheme in respect of which the notice is given;
a statement that the valuation under Part 7 has become binding;
the date on which the notice was given;
the name of the employer in relation to the qualifying pension scheme in respect of which the notice is given; and
whether the notice given by the scheme manager contains any restricted information and, if so, the nature of the restriction.