Commentary on Sections Summary
1144.This Part requires the Secretary of State to establish a financial assistance scheme to help those who are or were members of a defined benefit occupational pension scheme that is winding-up and is underfunded to such an extent that the members will not have their accrued benefits secured. The detail, such as the level of the assistance and the administrative arrangements, will be prescribed in regulations. By the virtue of section 316 (parliamentary control of subordinate legislation) these regulations are subject to affirmation resolution procedure.