C1C3C2 PART IIITHE BOARD OF THE PENSION PROTECTION FUND

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C3CHAPTER 3PENSION PROTECTION

Valuation of assets and liabilities

Approval of valuation128

1 F1

F2This Article applies where the Board obtains a valuation in respect of a scheme under Article F4127(2)(b).

2

Where the Board is satisfied that the valuation has been prepared in accordance with F3Article 127, it must—

a

approve the valuation, and

b

give a copy of the valuation to—

i

the Regulator,

ii

the trustees or managers of the scheme, and

iii F2

any insolvency practitioner in relation to the employer or, if there is no such insolvency practitioner, the employer.

F23

Where the Board is not so satisfied, it must obtain another valuation under that Article.