The rights which are exercisable by the trustees or managers of an eligible scheme1 as a creditor of a company, LLP2, CIO3 or relevant CCBS4 under specified provisions relating to moratoria5 are instead to be exercised by the Board of the Pension Protection Fund to the exclusion of the trustees or managers of that scheme6 where the following conditions are met7. The conditions are where: (1) a moratorium8 which on or after the relevant time (a) is in force in relation to a company, LLP, CIO or relevant CCBS that is an employer in
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