The following provisions1 apply where: (1) the Pensions Regulator2 revokes a freezing order3 in relation to a scheme4 or it otherwise ceases to have effect; and (2) at the time when the freezing order ceases to have effect, the Regulator has not made a winding up order5 in relation to the scheme6.
In such a case the Regulator may make an order in relation to the scheme containing a direction that, if specified7 conditions are met, specified benefits are to accrue under the scheme rules to, or in respect of, specified members8 of the scheme in respect of specified periods
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