Search Legislation

Pensions Act 2004

Section 56: Content and effect of a section 55 contribution notice

210.Subsection (2) sets out that a contribution notice must contain a statement of the matters which constitute the failure to comply with the restoration order and specify the sum which the person is under a liability to pay. Subsection (3) provides that where the liability set out in a contribution notice is a liability to pay the trustees or managers of the scheme, the sum is a debt due from the person specified in the notice to the trustees or managers. Subsection (4) provides that the Regulator can enforce the debt on behalf of the trustees or managers of the scheme. Subsection (5) deals with the situation where the Board of the Pension Protection Fund has become involved with the scheme during an assessment period, in which case it will take over enforcement of the debt. Subsection (6) provides that, where any amount is paid to the Board in respect of a debt due under a contribution notice during an assessment period, the Board must pay that amount to the trustees or managers of the scheme. Subsection (7) provides that, where the contribution notice states that the liability is to pay the Board, the sum is treated as a debt due to the Board.

Back to top

Options/Help

Print Options

Close

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources