# The Pension Protection Fund (Partially Guaranteed Schemes) (Modification) Regulations 2005, Regulation 4: Circumstances in which Board assumes responsibility for eligible schemes


(1) Sections 127 (duty to assume responsibility for schemes following insolvency event) and 128 (duty to assume responsibility for schemes following application or notification) of the Act apply as if, in subsection (2) of each section—
(a) for the words “responsibility for the scheme” there were substituted the words “ responsibility for the unsecured part ”; and
(b) in paragraph (a), after the words “protected liabilities” there were inserted the words “ of that part ”.
(2) Section 129 of the Act (applications and notifications for the purposes of section 128) applies as if, in subsection (1), for the words “responsibility for the scheme” there were substituted the words “ responsibility for the unsecured part ”.

---
Source: https://www.legislation.gov.uk/uksi/2005/277/regulation/4 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-partially-guaranteed-schemes-modification-regulations-2005/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.