# The Proceeds of Crime Act 2002 (External Requests and Orders) Order 2005, Paragraph 4: Approval of manner of calculation and verification of the value of rights

Extent: E+W+S+N.I.

(1) This paragraph applies where the relevant person is also a trustee or manager of the pension scheme in respect of which the pension recovery order has been made.
(2) When the trustees or managers of the pension scheme have, under paragraph 2 or 3, calculated and verified the value of the rights which are the subject of a pension recovery order, the manner in which the trustees or managers have calculated and verified the value of the rights must be approved by—
(a) a Fellow of the Institute of Actuaries; or
(b) a Fellow of the Faculty of Actuaries.
(3) Where the person referred to in sub-paragraph (2) is not able to approve the manner in which the trustees or managers have calculated and verified the value of the rights which are the subject of a pension recovery order, he must give notice in writing of that fact to the trustee for civil recovery and the trustees or managers of the scheme.
(4) Where the trustees or managers of the scheme have been given notice under sub-paragraph (3), they must re-calculate and re-verify the value of the rights which are the subject of a pension recovery order for the purposes of paragraph 2 or 3.

---
Source: https://www.legislation.gov.uk/uksi/2005/3181/schedule/4/paragraph/4 (the official version)
Page: https://openlegislation.uk/proceeds-of-crime-act-2002-external-requests-and-orders-order-2005/schedule-4/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.