Pensions Act Sample Clauses
The 'Pensions Act' clause defines the application and relevance of the Pensions Act 2004 (or similar legislation) within the context of the agreement. It typically clarifies the parties' obligations regarding pension scheme compliance, such as ensuring that any required contributions are made and that the scheme is properly administered according to statutory requirements. This clause is crucial for allocating responsibility and ensuring that both parties are aware of and adhere to legal requirements concerning employee pensions, thereby reducing the risk of non-compliance and potential legal disputes.
Pensions Act. (a) Neither the Lead Borrower nor any of its Restricted Subsidiaries is or has been an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ as amended).
(b) Neither the Borrower nor any of its Restricted Subsidiaries is or has been “connected” with or an “associate” of (as those terms are used in sections 39 and 43 of the Pensions Act 2004) such an employer.