614. Calculation, collection and recovery of pension protection levies.

The following provisions1 apply in relation to the initial levy imposed2 in respect of a scheme and in relation to any pension protection levy imposed3 in respect of a scheme4. The levy is payable to the Board of the Pension Protection Fund5 by or on behalf of: (1) the trustees or managers6 of the scheme; or (2) any other prescribed7 person8. The Board must in respect of the levy: (a) determine the schemes in respect of which it is imposed; (b) calculate the amount of the levy in respect of each of those schemes; and (c) notify any person