Section 120 — Pensions Act 2004: Duty to notify insolvency events in respect of employers

Duty to notify insolvency events in respect of employers 120 1 This section applies where, in the case of an occupational pension scheme, an insolvency event occurs in relation to the employer.

2 The insolvency practitioner in relation to the employer must give a notice to that effect within the notification period to—

a the Board, b the Regulator, and c the trustees or managers of the scheme.

3 For the purposes of subsection (2) the “notification period” is the prescribed period beginning with the later of—

a the insolvency date, and b the date the insolvency practitioner becomes aware of the existence of the scheme.

4 A notice under this section must be in such form and contain such information as may be prescribed.