Examples of Admitted Body in a sentence
The Minister will ensure that the Contracting Authority is notified as soon as reasonably practicable of the Minister becoming aware that the Admitted Body has failed to comply with any of the requirements of participation in the Schemes including, without limitation, the failure to pay any sum due under Clause 7 below.
In such scenarios, the ceding employer shall be required to present the rationale and sufficient evidence to satisfy the Fund that the employer should not be treated as a Transferee Admitted Body for funding purposes.
Any agreement between the Admitted Body and any of the Schemes that results in the settlement of any one off payment being spread over a period of time or merged into the regular monthly employer contribution rate shall not deem that element to be part of the regular employer contribution rate.
The Admitted Body shall transfer all necessary member records to any new employer on such occasions and in such a manner as required by the Schemes notified under the EPG.
The Admitted Body undertakes to the Minister that it shall not do anything to prejudice its participation in the Schemes.
The Contracting Authority may, at its discretion, set off against any payments due to the Admitted Body under the Contract an amount equal to any overdue employer and employee contributions and/or other payments due from the Admitted Body to the Schemes under this Agreement and/or the Acts.
The Admitted Body and the Contracting Authority agree to fully and promptly co-operate with any investigation, process or determination carried out by the Pensions Ombudsman, and /or the IDRP and/or any other dispute resolution process and/or any determinations made there under.
The Admitted Body will indemnify the Contracting Authority and the Minister, on his own behalf and on behalf of the Schemes, for any losses incurred by those Parties arising from a breach by the Admitted Body of any term of this Agreement.
The Admitted Body shall not grant an additional period of membership or additional pension in respect of any Admitted Person which would result in an increase in the Schemes’ liabilities, save to the extent that the appropriate sum as notified to the Admitted Body by the Scheme Actuary is paid by the Admitted Body to the Minister.
This Agreement will automatically terminate upon the earlier of the below events: the last Admitted Person ceasing to be an active member of any of the Schemes under this Agreement, provided that no Eligible Employee remains, in which case termination shall only occur when no Eligible Employee remains eligible to participate; termination of the Contract unless the Admitted Body continues to provide the Service in whole or part where these have been retendered by the Contracting Authority.