Part 3: The Pensions Regulator Contribution notices where avoidance of employer debt etc Section 104: Reasonableness of issuing a contribution notice
This section amends section 38 of the Pensions Act 2004 by inserting two new factors for the Regulator to consider when ascertaining if it is reasonable to issue a contribution notice.
	Subsection (2) amends section 38(7) of the Pensions Act 2004 to add the failure of a person to comply in respect of notices and accompanying statements under section 69A of the Pension Act 2004 as one of the matters the Regulator can take into account when considering if it is reasonable to impose liability on someone to pay a contribution notice sum.
	Subsection (3) of the section introduces a new factor which provides that the Regulator may consider the effect of the act or failure to act on the value of the assets or liabilities of the scheme.
	Subsection 4 of section 104 provides the meaning of "relevant transferee scheme".