The following provisions1 apply where: (1) a restraining order2 has effect; and (2) the Pensions Regulator3 is satisfied that the restrained account4 contains an amount of money liberated from a pension scheme5. The Regulator may by order:
(a) direct the deposit-taker concerned to pay from the account a sum not exceeding that amount: (i) towards a pension scheme; (ii) towards an annuity or insurance policy; or (iii) to the liberated member; and
(b) where it makes an order under head (a)(i), direct the trustees or managers of the scheme to apply the sum, in such manner as the Regulator
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