617. Recovery of value.

Where an application for a fraud compensation payment is made1, the trustees or managers2 must obtain any recoveries of value3, to the extent that they may do so without disproportionate cost and within a reasonable time4. No fraud compensation payment may be made until the date ('the settlement date') determined by the Board of the Pension Protection Fund5, after consulting the trustees or managers of the scheme in question, as the date after which further recoveries of value are unlikely to be obtained without disproportionate cost or within a reasonable time