127 Duty to assume responsibility for schemes following insolvency event
Pensions Act 2004 (2004 c 35) | Legislation

Circumstances in which Board assumes responsibility for eligible schemes

127  Duty to assume responsibility for schemes following insolvency event

(1)     This section applies where a qualifying insolvency event has occurred in relation to the employer in relation to an eligible scheme.

(2)     The Board must assume responsibility for the scheme in accordance with this Chapter if—

(a)     the value of the assets of the scheme at the relevant time was less than the amount of the protected liabilities at that time (see

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