Moral hazard powers of the Pensions Regulator: how do they apply against a company in insolvency?

The Pensions Regulator (TPR) has powers to make third parties liable to provide support or funding to an occupational pension scheme in certain circumstances. Briggs J had to consider how a financial support direction (FSD) should be treated if issued against a company in administration. He considered the law to be in a mess and not fit for purpose but felt obliged due to binding case law to hold that.