104Order requiring surrender of certificates

104 Order requiring surrender of certificates

104 Order requiring surrender of certificates

(1) This section applies if—

(a) an order is made or proposed to be made under the Act, Schedule 4A, clause 117 against a person, and

(b) the Scheme Administrator is satisfied the person has contravened the condition of the person’s accreditation imposed by section 95, and

(c) the condition was contravened because the person did not comply with an undertaking given under section 90.

(2) For the Act, Schedule 4A, clause 117, the number of certificates to be surrendered under the order is—

(a) if the contravention relates to an undertaking under section 90(1)—the number of certificates for which, in the Scheme Administrator’s opinion, a benefit was obtained under a corresponding scheme, and

(b) if the contravention relates to an undertaking under section 90(2) or (3)—the number of certificates the Scheme Administrator is satisfied were not withheld from transfer in accordance with the undertaking.