Examples of Financial Support Direction in a sentence
The key remaining issues for the Company are to deal with the Financial Support Direction (“FSD”) claims of the UK Pensions Regulator (“TPR”) asserted against the Company and certain EMEA Companies, the allocation of the sale proceeds within the Group (Purchase Price Allocation, or “PPA”) and, in due course, the development of an appropriate process to agree creditors’ claims and distribute available funds to them.
This structure allows for flexibility in the form of financial support which is potentially acceptable; however the multi-stage approach means that it might be a very long time before support is actually obtained for a scheme.There are various tests which the Regulator must satisfy in order to be able to issue a Financial Support Direction – including that the sponsoring employer is either a service company or is “insufficiently resourced”.
CLINICAL EDUCATION STUDENT EXPECTATIONS(Also available on each clinical education course syllabi) 1.
Financial Support Direction means a direction issued by the Pensions Regulator against or naming an Insured under Section 43 of the Pensions Act 2004.
We propose to strengthen and improve the way Financial Support Directions work by:• Creating a single-stage process, under which the Financial Support Direction would create a specific and enforceable obligation on the target (rather than this occurring at some later stage as in the current regime).