Regulation 7 Alternative valuation of assets and protected liabilities in specific cases

that the rights have not been transferred; and

that any assets transferred in respect of the transfer of those rights are assets of the scheme making the transfer and not of the receiving scheme.

the value of the liability secured where the contract of insurance falls within the definition of a relevant contract of insurance in section 161(8) of the Act (effect of Board assuming responsibility for a scheme); or where this is not the case either—

the surrender value of the contract of insurance; or

where it appears to the appropriate person that the surrender value of the contract of insurance does not accurately reflect the actual value at the relevant time; then he shall adopt such a value as appears to him to be appropriate.

F3a section 143 determination or a section 143 valuation, where the appropriate person, in accordance with guidance issued by the Board in accordance with F4the statement issued by the Board under section 143(5C) of the Act or section 143(6) of the Act, holds the opinion that any section 75 debt falling due to the eligible scheme will be recouped in the future then he shall treat the proportion of the section 75 debt that he believes will be recovered as an asset of the scheme;

a section 143 determination or a section 143 valuation, where any section 75 debt is recouped between the relevant time and the date F5the determination is made under section 143(2)(a) of the Act or the date the valuation is approved under section 144(2) of the Act (approval of valuation), then the amount so recouped—

a section 143 determination or a section 143 valuation, where an amount is due under a contribution notice, a financial support direction or a restoration order, and

the appropriate person shall adjust the value of the asset contained in the notice or direction to the value recouped by the trustees or managers of the eligible scheme during the pre-approval period.

F11a section 143 valuation, if the appropriate person—

that the value of any asset set out in the relevant accounts, that is not excluded from the actuarial valuation, is substantially different at the relevant time from that set out in the relevant accounts, then he shall adjust the value of the asset to the market value of the asset at the relevant time; or

a section 143 valuation, where the appropriate person—

in accordance with any Board guidance issued in accordance with section 143(6) of the Act , that there exists an asset of the scheme which is not listed in the relevant accounts, and which is not excluded from the actuarial valuation, then he shall adopt such a value for the asset as he considers is appropriate.