248. Modification by Pensions Regulator to secure winding up.

The Pensions Regulator1 may at any time while: (1) an occupational pension scheme2 is being wound up3; and (2) the employer4 in relation to the scheme is subject to an insolvency procedure5, make an order modifying that scheme with a view to ensuring that it is properly wound up6. The Regulator must not make such an order except on an application made to it, at a time such as is mentioned above, by the trustees or managers of the scheme7. Except in so far as regulations8 otherwise provide, an application for these purposes must be made in writing9.

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