(1) The trustees of a scheme or trust RAC may, in accordance with this section, receive all or part of a pension scheme's liabilities, technical provisions and other obligations and rights as well as corresponding assets or cash equivalent thereof, from a transferring IORP.
(2) The trustees of a receiving scheme or trust RAC seeking to receive a transfer from a transferring IORP shall submit an application for authorisation of a transfer to the Pensions Authority.
(3) An application under subsection (2) shall include the following information:
(a) the written agreement between the transferring IORP and the trustees of the receiving scheme or trust RAC setting out the conditions of the transfer;
(b) a description of the main characteristics of the transferring IORP's pension scheme;
(c) a description of the liabilities or technical provisions to be transferred, and other obligations and rights, as well as corresponding assets or cash equivalent thereof;
(d) the name and the location of
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