Moved by
Lord Vaux of Harrowden
50: Clause 109, page 95, line 15, at end insert—
“( ) In particular, the declaration of a share buy-back by the employer is a notifiable event for the purposes of subsection (1) if the value of the assets of the scheme is less than the amount of the liabilities of the scheme.”
Member’s explanatory statement
This amendment makes the declaration of a share buy-back by a company notifiable to the Pensions Regulator if the scheme is in deficit.