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Pensions Act 2004

Pensions Act 2004

2004 CHAPTER 35

Commentary on Sections

Part 1 – the Pensions Regulator

Financial support directions

Section 51: Sections 43 to 50: interpretation

199.Subsection (1) defines “group of companies” as a holding company and its subsidiaries. “Holding company” and “subsidiaries” have the meaning given by section 736(1) of the Companies Act 1985. Subsection (2) provides that any reference to a debt due under section 75 of the Pensions Act 1995 (deficiencies in assets) includes a contingent debt under that section. Subsection (3) provides that section 249 (connected persons) and section 435 (associated persons) of the Insolvency Act 1986 apply for the purposes of sections 43 to 50 as they do for the purposes of that Act. It also provides that section 74 of the Bankruptcy (Scotland) Act 1985 (associated persons) applies as it applies for the purposes of that Act.

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