Share purchase agreement—short form pensions warranties (where target company has a Group Personal Pension (GPP) arrangement or stakeholder scheme)
Share purchase agreement—short form pensions warranties (where target company has a Group Personal Pension (GPP) arrangement or stakeholder scheme)

The following Pensions precedent provides comprehensive and up to date legal information covering:

  • Share purchase agreement—short form pensions warranties (where target company has a Group Personal Pension (GPP) arrangement or stakeholder scheme)

Share purchase agreement—short form pensions warranties (where target company has a Group Personal Pension (GPP) arrangement or stakeholder scheme)

This precedent has been prepared on the basis that the drafter is acting for the seller

Drafted on the basis that the target company (the Company) is a subsidiary of the Seller.

You are strongly advised to involve a pensions specialist at the earliest opportunity.

    1. 1

      Definitions

      For the purposes of paragraphs 2 to 12 inclusive:

      Employee means a present or former employee, officer or director of the Company [or of any Group Company] [and any other person taking part in the management of the affairs of the Company];

      Pension Scheme means an arrangement or practice for the payment of, or contribution towards, an annuity, pension, lump sum, gratuity or similar benefit to be given on retirement, long-term ill-health or death, or pursuant to a pension sharing order, in relation to the service or historic service of an Employee or any other person, or for the benefit of that individual’s dependants and Pension Schemes shall be interpreted accordingly.

    1. 2

      [As far as the Seller is aware,] [e OR E]xcept as provided for by the Pension Scheme[s], [the Company is not OR no Group Company is] participating and never has participated in an arrangement or agreement to provide or contribute towards any pensions, annuities, lump sums, gratuities or similar benefits on retirement, ill-health,

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