590. Circumstances in which Board ceases to be involved with an eligible scheme.

Where an assessment period1 begins in relation to an eligible scheme2, the Board of the Pension Protection Fund3 ceases to be involved with the scheme, for the purposes of Part 2 of the Pensions Act 2004, on the occurrence of the first withdrawal event4 after the beginning of that period5. For the purposes of the pension protection provisions of the Pensions Act 20046:

  1.  

    (1)     the occurrence of a withdrawal event in relation to a scheme in respect of a withdrawal notice issued during a particular period ('the specified period') is a possibility until each of the following are no