Section 139(2)

A “residual interest” means a right of the company or subsidiary (“the residual beneficiary”) to receive any of the trust property in the event of— all the liabilities arising under the scheme having been satisfied or provided for, or the residual beneficiary ceasing to participate in the scheme, or the trust property at any time exceeding what is necessary for satisfying the liabilities arising or expected to arise under the scheme.

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Source: legislation.gov.uk · retrieved 2026-09-04