Section 114: Time for discharge of liabilitySection 115: “Implementation period”
293.Section 114 provides that the Board must implement the order conferring rights to compensation on the beneficiary of a pension compensation sharing order (or qualifying agreement) during the implementation period – defined in section 115 as 4 months beginning on the date on which the sharing order (or qualifying agreement) takes effect or, if later, the date on which the Board of the Pension Protection Fund receives the relevant documents.
294.Regulation-making powers are provided to allow the Secretary of State to define the parameters of this requirement. Regulations may provide for:-
the circumstances where the implementation period can be extended;
the information required (for example addresses, ages, National Insurances numbers)
the procedure for notifying the transferor and transferee of the day on which the implementation period begins; and
the effect on the implementation period where the pension compensation sharing order (or qualifying agreement) is the subject of an application for leave to appeal out of time.