508. Powers in relation to winding up of occupational pension schemes: freezing orders.

The following provisions1 apply to an occupational pension scheme2 which is not a money purchase scheme3. The Pensions Regulator4 may make a freezing order in relation to such a scheme if and only if:

  1.  

    (1)     the order is made pending consideration being given to the making of an order in relation to the scheme to wind it up to protect the interests of the generality of the members of the scheme5; and

  2.  

    (2)     the Regulator is satisfied that: (a) there is, or is likely to be if the order is not made, an immediate risk to the interests of