Section 108: Delegation of powers by the Regulator
Section 108 amends the Pensions (Northern Ireland) Order 2005 to extend the power of the Pensions Regulator to contract out its functions. Paragraph 2 of Schedule 1 to the Pensions (Northern Ireland) Order 2005 enables regulations to be made permitting the Regulator to contract out its functions. This section enables the Regulator to delegate both the power to determine whether to exercise its functions and its power to exercise them. It also limits the functions to be contracted-out to those specified – that is functions which relate to the compliance regime – or such other functions that may be prescribed.
