restoration order

restoration order
An order that the Pensions Regulator may make in relation to defined benefit schemes under section 52 of the Pensions Act 2004. If a party has entered into a transaction at an undervalue involving scheme assets on or after 27th April 2004, the Regulator can make a restoration order to restore matters to how they would have been if the transaction at an undervalue had not occurred. The ability to make a restoration order is one of the Regulator's anti-avoidance powers, designed to prevent abuse of the Pension Protection Fund (PPF) (see also contribution notice and financial support direction (FSD)).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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