Schedule 1: The trustee corporation Chapter 6: Personal Accounts Delivery Authority Section 86: Winding up of the Authority
221.This section amends section 23 of the PA 2007 which allows the Secretary of State to wind up and dissolve the Authority by order. It removes the conditions set out in subsections (2) to (4) of section 23 of the 2007 Act which only allow the Secretary of State to dissolve the Authority on abandonment or modification of proposals relating to the scheme that may be established under section 67.
222.This section also extends the provision for transfer of the Authority’s property, rights and liabilities. The extension allows such a transfer to be made to any person designated by the Secretary of State.
223.This section also amends subsection (7) of section 23 of the PA 2007 to provide that in the event of the dissolution of the Authority, an order under section 23 can remove what will be redundant provisions from the Act.