Section 144 Approval of valuationC1 C2 I1 C3

England, Wales and Scotland

(1)

This section applies where the Board obtains a valuation in respect of a scheme under section F1143(2)(b).

(2)

Where the Board is satisfied that the valuation has been prepared in accordance with F2section 143, it must—

(a)

approve the valuation, and

(b)

give a copy of the valuation to—

(i)

the Regulator,

(ii)

the trustees or managers of the scheme, and

(iii)

any insolvency practitioner in relation to the employer or, if there is no such insolvency practitioner, the employer.

(3)

Where the Board is not so satisfied, it must obtain another valuation under that section.

Annotations

F1: Word in s. 144(1) substituted (23.7.2012) by Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 7(2); S.I. 2012/1681, art. 3(b)(ii)
F2: Words in s. 144(2) substituted (23.7.2012) by Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 7(3); S.I. 2012/1681, art. 3(b)(ii)

C1

C2

Pt. 2 modified in part (9.3.2005 for specified purposes, 1.4.2005 for specified purposes, 6.4.2005 in so far as not already in force (except ch. 4)) by The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005 (S.I. 2005/441), regs. 1, 2-60, 71, 72

C3