2.4  Indemnity or Bond

2.4.1  Without prejudice to the generality of the requirements of this clause 2, the Contractor shall procure that it and each relevant Sub-Contractor shall as soon as reasonably practicable obtain any indemnity or bond required in accordance with the Contractor Admission Agreements.33

______________________________________________________________________________________________________

33  Under regulation 6(5) of the LGPS (Administration) Regulations 2008, the Authority (in the majority of cases) must carry out an assessment, taking account of actuarial advice, of the level of risk arising on premature termination of the provision of the service or assets by reason of the insolvency, winding up or liquidation of the transferee admission body and that where the level of risk identified by the assessment is such as to require it, the transferee admission body must provide an indemnity or bond to meet the level of risk identified.