Article 128 Approval of valuation

Northern Ireland

(1 F1)

F2This Article applies where the Board obtains a valuation in respect of a scheme under Article F3127(2)(b).

(2)

Where the Board is satisfied that the valuation has been prepared in accordance with F4Article 127, 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 Article.

Annotations

F1: mod. by SR 2005/55
F2: mod. by SR 2005/91
F3: Word in art. 128(1) substituted (23.7.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 7(2); S.R. 2012/265, art. 2(4)(a)(ii)
F4: Words in art. 128(2) substituted (23.7.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 7(3); S.R. 2012/265, art. 2(4)(a)(ii)

C1: Pt. III (arts. 101-199) applied by S.R. 2005/55, reg. 2A (as inserted (8.3.2010) by Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/32), reg. 2(4))
C2: Pt. III amendment to earlier affecting provision S.R. 2005/91 (23.7.2012) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2012 (S.R. 2012/270), regs. 1, 2
C3: Pt. III modified by S.R. 2005/55 (as amended) (30.4.2013) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2013 (S.R. 2013/95), regs. 1(2), 3

C1: Pt. III amendment to earlier affecting provision S.R. 2005/91 (23.7.2012) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2012 (S.R. 2012/270), regs. 1, 2