# The Financial Assistance Scheme Regulations 2005, Regulation 26: Binding valuation


(1) A valuation obtained under regulation 22 is not binding until—
(a) it is approved under regulation 25;
(b) 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
(c) where an application referred to in sub-paragraph (b) is made—
(i) the internal review;
(ii) any appeal to the Ombudsman in respect of the approval; and
(iii) any appeal against any determinations or directions given or made by the Ombudsman in respect of such an appeal,
has been finally disposed of.
(2) 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—
(a) the trustees or managers of the qualifying pension scheme; and
(b) the Regulator.
(3) The notice given by the scheme manager under paragraph (2) shall contain—
(a) a statement that it is a notice under regulation 26 of the Financial Assistance Scheme Regulations 2005;
(b) the date on which the notice is given;
(c) the name, address and pension scheme registration number of the qualifying pension scheme in respect of which the notice is given;
(d) a statement that the valuation under Part 7 has become binding;
(e) the date on which the notice was given;
(f) the name of the employer in relation to the qualifying pension scheme in respect of which the notice is given; and
(g) whether the notice given by the scheme manager contains any restricted information and, if so, the nature of the restriction.

---
Source: https://www.legislation.gov.uk/uksi/2005/1986/regulation/26 (the official version)
Page: https://openlegislation.uk/financial-assistance-scheme-regulations-2005/regulation-26
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.