272 Debt due from the employer in the case of multi-employer schemes
Pensions Act 2004 (2004 c 35) | Legislation

272  Debt due from the employer in the case of multi-employer schemes

After section 75 of the Pensions Act 1995 (c 26) (deficiencies in the assets) insert—

“75A Deficiencies in the assets: multi-employer schemes

(1)     Regulations may modify section 75 (deficiencies in the assets) as it applies in relation to multi-employer schemes.

(2)     The regulations may in particular provide for the circumstances in which a debt is to be treated as due under section 75 from an employer in relation to a multi-employer scheme (a “multi-employer debt”).

(3)     Those circumstances may include circumstances other than those in which the scheme is being wound up or a relevant event occurs (within the meaning of section 75).

(4)     For the purposes of regulations under this section, regulations under section 75(5) may prescribe alternative manners for determining, calculating and verifying—

(a)     the liabilities and assets of the scheme to be taken into account, and

(b)     their amount or value.

(5)     The regulations under this section may in particular—

(a)     provide for the application of each of the prescribed alternative manners under section 75(5) to depend

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