[38A Section 38 contribution notice: meaning of “material detriment test”]
Pensions Act 2004 (2004 c 35) | Legislation

[38A  Section 38 contribution notice: meaning of “material detriment test”]

[(1)     For the purposes of section 38 the material detriment test is met in relation to an act or failure if the Regulator is of the opinion that the act or failure has detrimentally affected in a material way the likelihood of accrued scheme benefits being received (whether the benefits are to be received as benefits under the scheme or otherwise).

(2)     In this section any reference to accrued scheme benefits being received is a reference to benefits the rights to which have accrued by the relevant time being received by, or in respect of, the persons who were members of the scheme before that time.

(3)     In this section “the relevant time” means—

(a)     in the case of an act, the time of the act, or

(b)     in the case of a failure—

(i)     the time when the failure occurred, or

(ii)     where the failure continued for a period of time, the

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