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Amendment of section 50 of Principal Act
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30. Section 50 of the Principal Act is amended by inserting the following subsections after subsection (4):
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“(5) The Minister may make regulations for the purposes of this section, and, without prejudice to the generality of the foregoing, the regulations may provide that where the Board proposes to make a direction under subsection (1) or (1A) other than on application by the trustees—
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(a) the Board may by notice in writing require a specified person to furnish the Board with such information as may be prescribed within the period specified in the notice,
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(b) the trustees of the scheme and the employer to whom the scheme relates shall make such notifications and provide such information, to such persons, and in such manner as may be prescribed,
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(c) such persons as may be prescribed shall be afforded an opportunity to make submissions to the Board, in respect of the proposed direction, and
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(d) the Board shall, prior to making a direction, consider any such submissions.
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(6) An appeal to the High Court on a point of law from a direction of the Board under subsection (1) or (1A), made other than on application by the trustees, may be brought by such persons as may be prescribed not later than 21 days after the date of the direction.
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(7) A direction of the Board under subsection (1) or (1A), made other than on application by the trustees, shall not take effect—
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(a) during the period of 21 days after the date of direction, or
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(b) if an appeal against the direction is brought during the period referred to in paragraph (a), before the date of the final determination of the appeal or any appeal from such determination or the withdrawal of either such appeal.
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(8) Where the Board makes a direction under subsection (1) or (1A), other than on application by the trustees, the periods specified in subsection (3) shall be deemed to run from the date on which the direction takes effect.”.
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