Pensions warranties—group personal pension scheme—share purchase agreement
Pensions warranties—group personal pension scheme—share purchase agreement

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Pensions warranties—group personal pension scheme—share purchase agreement

Replace Schedule 4, paragraph 19 of Precedent: Share purchase agreement—pro-buyer—corporate seller—conditional—long form with the following:

    1. 1

      Pensions

      1. 1.1

        Except as provided for by the Pension Scheme, the Company is not and has never participated in an arrangement or agreement to provide pensions, annuities, lump sums, gratuities or similar benefits on retirement, long-term ill-health or death, or pursuant to a pension sharing order, in relation to the service or historic service of a present or former employee of the Company or any other person, or for the benefit of that individual’s dependents.

      2. 1.2

        The Pension Scheme is a group personal pension scheme arranged by the Company for the benefit of its employees.

      3. 1.3

        All benefits under the Pension Scheme are provided on a money purchase basis. No assurance, guarantee or promise has been made to any current or former employee of the Company or any other person as to the amount of benefits to be provided under the Pension Scheme.

      4. 1.4

        Copies of the following documents have been Fairly Disclosed to the Buyer:

        1. 1.4.1

          the agreement between the Company and the Pension Scheme provider;

        2. 1.4.2