Article 169 Interim payments
The Board may, on an application under Article 165, make a payment or payments to the trustees or managers of an occupational pension scheme if—
it is of the opinion that—
the case is one to which paragraph (1) of that Article applies or may apply, and
the trustees or managers would not otherwise be able to meet liabilities of a prescribed description, but
it has not determined the settlement date under Article 167.
Amounts payable under this Article must not exceed the amounts determined in accordance with regulations.
The Board may, except in prescribed circumstances, recover so much of any payment made under paragraph (1) as it considers appropriate if, after the payment is made, it determines—
that the case is not one to which Article 165(1) applies, or
that the amount of the payment was excessive.
Subject to that, a payment under paragraph (1) may be made on such terms (including terms requiring repayment in whole or in part) and on such conditions as the Board considers appropriate.
Annotations
Textual amendments
- F1
mod. by SR 2005/381
Notes on Part III
Modifications
- 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