Commentary on Sections Summary Restrictions on schemes during the assessment period Section 137: Board to act as creditor of the employer
446.This section provides that during an assessment period the Board is the creditor of any debt owed by the employer to the trustees or managers of a scheme and for the Board to have all the rights and powers of a creditor during this period. So, for example, the Board will represent the scheme at any meeting involving creditors of the employer.
447.Subsection (3) provides that the Board must pay any amounts received in respect of the debt owed by the employer to the trustees or managers of the scheme.