608. Discharge of liabilities in respect of compensation and money purchase benefits.

Where the Board of the Pension Protection Fund1 assumes responsibility for an eligible scheme2, the Board may provide for the discharge of any liability imposed on it3 to provide compensation: (1) by the taking out of a policy of insurance or a number of such policies; (2) by the entry into an annuity4 contract or a number of such contracts; (3) by the transfer of the benefit of such a policy or policies or such a contract or contracts; (4) in prescribed