596. Requirement to wind up schemes with sufficient assets to meet protected liabilities.

Where, in relation to an eligible scheme1, an assessment period2 comes to an end because specified conditions3 are satisfied, the trustees or managers4 of the scheme must: (1) wind up the scheme; or (2) where the winding up of the scheme began before the assessment period5, continue the winding up of the scheme6. Where, in relation to an eligible scheme, an assessment period7 comes to an end because specified conditions8 are satisfied, the trustees or managers of the scheme must continue the winding up of the scheme begun (whether in accordance with these provisions or otherwise) before that assessment

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