# The Pension Protection Fund (Contributions Equivalent Premium) Regulations 2007, Regulation 2: Liability to pay a CEP incurred before an assessment period begins


(1) For the purposes of section 135(4)(b)(ii) of the 2004 Act (restrictions on winding up, discharge of liabilities etc), a prescribed liability is a liability of the trustees or managers of the scheme to pay a CEP which—
(a) is incurred before the assessment date; and
(b) has not been discharged before that date.
(2) A scheme incurs a liability to pay a CEP before the assessment date if, before that date, the trustees or managers of the scheme were required, or elected, to pay a CEP and had not discharged that liability before the assessment date.
(3) Where paragraph (1) applies, the trustees or managers of the scheme may discharge the prescribed liability to pay a CEP during the scheme’s assessment period.

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Source: https://www.legislation.gov.uk/uksi/2007/834/regulation/2 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-contributions-equivalent-premium-regulations-2007/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.