Contingent asset details

Contingent Asset - Type B(i)

Statement date

Please insert the balance on the charged account as at a date not more than 7 days prior to the date of this certificate. You must send a copy of the bank statement showing this balance to the Board of the Pension Protection Fund to arrive no later than midnight on 31 March 2016.

Contingent Asset - Type B(ii) England and Wales

Valuation date

For a newly certified Type B(ii)E&W contingent asset, the valuation date must not be more than three months prior to the date of the contingent asset certificate. Otherwise (i.e. for a re-certified Type B(ii)E&W contingent asset) the valuation date must not be more than fifteen months prior to the date of this certificate. In either case, in certain circumstances, a desktop valuation may be acceptable, provided it is updating a full valuation. If the property, or any part of it, is occupied by the Chargor or any of the employers covered by the security agreement or an associate of any of them, then the property or the relevant part must be valued on a vacant possession basis. Otherwise, the property must be valued on a market value basis. For these purposes 'vacant possession' and 'market value' shall have the meanings given to them in the Royal Institution of Charter Surveyors 'Red book'. For more details as to the requirements in relation to valuations, please refer to the PPFs guidance in relation to contingent assets, available on the PPF website:
https://www.ppf.co.uk/are-you-levy-payer

Date of certificate of title

The certificate of title must be dated not more than 7 days prior to the date of the security agreement. See the contingent asset guidance on the PPF website for more information about certificates of title.

Property

Please briefly describe the property or properties the subject of the security, e.g. "Renaissance, Croydon CR0 2NA" or "A portfolio of 25 residential properties in Croydon". This information is used purely to assist in distinguishing the security agreement in our records.

Contingent Asset - Type B(ii) Scotland

Valuation date

For a newly certified Type B(ii)S contingent asset, the valuation date must not be more than three months prior to the date of the contingent asset certificate. Otherwise (i.e. for a re-certified Type B(ii)S contingent asset) the valuation date must not be more than fifteen months prior to the date of this certificate. In either case, in certain circumstances, a desktop valuation may be acceptable, provided it is updating a full valuation. If the property, or any part of it, is occupied by the Chargor or any of the employers covered by the security agreement or an associate of any of them, then the property or the relevant part must be valued on a vacant possession basis. Otherwise, the property must be valued on a market value basis. For these purposes 'vacant possession' and 'market value' shall have the meanings given to them in the Royal Institution of Charter Surveyors 'Red book'. For more details as to the requirements in relation to valuations, please refer to the PPF's guidance in relation to contingent assets, available on the PPF website:

https://www.ppf.co.uk/are-you-levy-payer

Date of certificate of title

The certificate of title must be dated not more than 7 days prior to the date of the Standard Security. See the contingent asset guidance on the PPF website for more information about certificates of title.

Property

Please briefly describe the property or properties that form the subject of the Standard Security .e.g. "Renaissance, Croydon CR0 2NA" or "A portfolio of 25 residential properties in Croydon". This information is used purely to assist in distinguishing the Standard Security in our records.

Contingent Asset - Type B(ii) Northern Ireland

Valuation date

For a newly certified Type B(ii)NI contingent asset, the valuation date must not be more than three months prior to the date of the contingent asset certificate. Otherwise (i.e. for a re-certified Type B(ii)NI contingent asset) the valuation date must not be more than fifteen months prior to the date of this certificate. In either case, in certain circumstances, a desktop valuation may be acceptable, provided it is updating a full valuation. If the property, or any part of it, is occupied by the Chargor or any of the employers covered by the security agreement or an associate of any of them, then the property or the relevant part must be valued on a vacant possession basis. Otherwise, the property must be valued on a market value basis. For these purposes 'vacant possession' and 'market value' shall have the meanings given to them in the Royal Institution of Charter Surveyors 'Red book'. For more details as to the requirements in relation to valuations, please refer to the PPF’s guidance in relation to contingent assets, available on the PPF website:
https://www.ppf.co.uk/are-you-levy-payer

Date of certificate of title

Property

Please briefly describe the property or properties that form the subject of the security, e.g. "Renaissance, Croydon CR0 2NA" or "A portfolio of 25 residential properties in Croydon". This information is used purely to assist in distinguishing the security agreement in our records.

Contingent Asset - Type B(iii)

The valuation must be provided by the Custodian save that, to the extent the securities are unquoted, the Custodian may rely on a valuation provided by an appropriately qualified third party valuer. The valuation must be as at a date not more than one month prior to the date of this form, except that for unquoted securities this limit is extended to three months. If the securities are a mixture of quoted and unquoted, please state the date of the oldest element of the valuation. Securities issued by, or by reference to, undertakings which are the Chargor or any employer covered by the security agreement or 'associates' of any of them must be excluded for the purposes of valuing the securities. You must send a copy of the valuation to the Board of the Pension Protection Fund, to be received no later than midnight on 31 March 2016.