369. Pension credits.

A person subject to liability in respect of a pension credit1 must discharge his liability before the end of the implementation period2 for the credit3. Where the trustees or managers4 of an occupational pension scheme5 have not done what is required to discharge their liability in respect of a pension credit before the end of the implementation period for the credit: (1) they must, except in such cases as the Secretary of State6 may prescribe by regulations, notify the Pensions Regulator7 of that fact within such period as the Secretary of State may so prescribe; and (2) the statutory

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