Part 3: The Pensions Regulator Contribution notices where avoidance of employer debt etc Section 106: Sanctions for failure to comply with a contribution notice
This section amends the Pensions Act 2004. Subsection (2) amends section 40 (content and effect of a section 38 contribution notice). Subsection (3) amends section 41 of the Pensions Act 2004 (section 38 contribution notice: relationship with employer debt). Subsection (4) of this section inserts new section 42A (Offence for failing to comply with section 38 contribution notice). Subsection (5) of this section inserts new section 42B (Financial penalty for failure to comply with a section 38 contribution notice).