497. Restitution under the Pensions Act 1995.

If, on the application of the Pensions Regulator1, the court is satisfied:

  1.  

    (1)     that a power to make a payment, or distribute any assets, to the employer2, has been exercised in contravention of the relevant statutory provisions3; or

  2.  

    (2)     that any act or omission of the trustees or managers4 of an occupational pension scheme5 was in contravention of the statutory restriction on employer-related investments