# The Pension Protection Fund (Contributions Equivalent Premium) Regulations 2007, Regulation 3: Liability to pay a CEP incurred during an assessment period


(1) For the purposes of section 135(4)(b)(ii) of the 2004 Act, a prescribed liability is a liability of the trustees or managers of the scheme to pay a CEP which is incurred during the assessment period.
(2) A scheme incurs a liability to pay a CEP on, or after, the assessment date if, on that date or during the assessment period, the trustees or managers of the scheme elect to pay a CEP.

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Source: https://www.legislation.gov.uk/uksi/2007/834/regulation/3 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-contributions-equivalent-premium-regulations-2007/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.