Pensions Act 2008

79 Functions

(1) Section 21 of the Pensions Act 2007 (c. 22) (initial function of the Authority) ceases to have effect.

(2) The Personal Accounts Delivery Authority (referred to in this Chapter as the “Authority”) has the following functions—

(a) to give any assistance and advice that the Secretary of State may require, and any advice that the Authority considers expedient, for or in connection with the establishment and operation of a scheme under section 67(1);

(b) to give any assistance and advice that the Secretary of State or the Regulator may require, and any advice that the Authority considers expedient, for or in connection with arrangements to enable requirements imposed by or under Chapter 1 of this Part to be complied with and enforced.

(3) Assistance or advice required by the Secretary of State under subsection (2)(a) may include assistance or advice to the trustees of the scheme.

(4) The Authority’s functions under subsection (2) are in addition to any functions that may be conferred on it by or under this Act or any other enactment.

(5) The Authority may do anything calculated to facilitate, or incidental or conducive to, the carrying out of any of its functions.

(6) In particular, the Authority may—

(a) enter into agreements;

(b) borrow money.

(7) The Authority’s powers within subsection (6)(b) are exercisable only with the consent of the Secretary of State.