The Act introduces two new offences – conduct risking accrued DB benefits and avoidance of employer debt, as explained below. Each offence is punishable by up to seven years' imprisonment and / or an unlimited fine. There are specific exemptions from both offences for insolvency practitioners, but not for other professionals. Potentially, an offence could be committed not just by a sponsoring employer but also by its parent company and advisers or other professionals who might have “aided and abetted” the commission of the offence, including, in theory, its lenders.
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