[38C Section 38 contribution notice: meaning of “employer insolvency test”]
Pensions Act 2004 (2004 c 35) | Legislation

[38C  Section 38 contribution notice: meaning of “employer insolvency test”]

[(1)     For the purposes of section 38 the employer insolvency test is met in relation to an act or failure to act if the Regulator is of the opinion that—

(a)     immediately after the relevant time, the value of the assets of the scheme was less than the amount of the liabilities of the scheme, and

(b)     if a debt under section 75(4) of the Pensions Act 1995 (deficiencies in scheme assets: employer insolvency etc) had fallen due from the employer to the scheme immediately after the relevant time, the act or

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