586. Valuation of assets and liabilities.

The following provisions1 apply where: (1) a qualifying insolvency event2 has occurred in relation to the employer3 in relation to an eligible scheme4; or (2) an application or notification5 in relation to an eligible scheme has been made or given6. The Board of the Pension Protection Fund7 must, as soon as reasonably practicable: (a) determine whether the relevant condition8 is satisfied9; or (b) for the purposes of determining whether that condition is satisfied, obtain an actuarial valuation10 of the scheme as at the relevant time11.

For the purposes of such a determination or actuarial valuation, regulations may prescribe how: (i)