The Determinations Panel of the Pensions Regulator recently ruled, in the first case of its kind, that Sea Containers Limited should be subject to a Financial Support Direction (“FSD”) to support two of its UK defined benefit schemes. Hammonds acts for one of these schemes, and recently represented the trustees of the scheme at a two-day hearing before the Determinations Panel. Simon Price and Jay Doraisamy, partners at Hammonds, commented: “We are pleased to see that the Pensions Regulator has agreed to exercise these powers, which were given to it under the Pensions Act 2004, primarily to look after the security of members’ interests”. The Regulator issued the FSD on 27 June 2007 and the Determinations Panel’s reasons for making the determination have been published on the Pensions Regulator’s website at