Arc Pensions Law’s webinar on the Pension Schemes Act’s impact on commercial activity, corporate rescue and restructurings
On Thursday 29 April, Arc Pensions Law hosted a webinar on the impact of the Pension Schemes Act 2021 on commercial activity, corporate rescue and restructurings.
An attendee provided feedback, commenting: “Great seminar too; perhaps the best during lockdown!”
The webinar examined what now needs to go on the commercial radar, including:
- Criminal offences for ‘wrongdoing’ relating to a defined benefits scheme (applying to any person – so buyers, sellers, professional advisers, lenders, investors etc are all caught and risk up to seven years in prison).
- Wider circumstances in which the Regulator can issue Contribution Notices (piercing the corporate veil).
- New reporting obligations (not just catching share sales, but also business transfers and granting security in priority to the scheme, requiring earlier involvement of both trustees and Regulator).
- Increased powers of investigation by the Regulator.
- Potential £1 million fines.
To watch the recording of this webinar, please click here and below:
The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. Arc Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.