Commentary on Sections Summary Backdating the winding up of eligible schemes Section 219: Backdating the winding up of schemes
787.This section enables the winding up of a scheme to be backdated to before the date of the qualifying insolvency event (see section 127 (duty to assume responsibility for schemes following an insolvency event)) or the date of a notification or application under section 129 (applications and notifications for the purposes of section 128).
788.This may be done provided that the winding up begins before the following:
	when a scheme failure notice or a withdrawal notice under section 122(2) becomes binding; or
	when a notice from an insolvency practitioner that he cannot confirm whether a scheme rescue is not possible or has occurred, has become binding in a case where section 148 does not apply (e.g. because the Board has previously withdrawn under section 147); or
	when a withdrawal notice under section 148 becomes binding.
789.Subsection (4) provides that the Regulator may direct persons to take steps necessary as a result of the backdating of the winding up and any failure to comply with a direction will render that person subject to a civil penalty (section 10 of the Pensions Act 1995 (civil penalties).