92.—(1) The special procedure in Article 93 (and not the standard procedure) applies to—
(a)a case falling within paragraph (2),
(b)a case falling within paragraph (3), and
(c)a case falling within paragraph (4).
(2) A case falls within this paragraph if—
(a)the Regulator considers that it may be necessary to exercise a regulatory function listed in paragraph (5) immediately because there is, or the Regulator considers it likely that if a warning notice were to be given there would be, an immediate risk to—
(i)the interests of members under an occupational or personal pension scheme, or
(ii)the assets of such a scheme,
(b)the Regulator accordingly dispenses with the giving of a warning notice and an opportunity to make representations as described in Article 91(2)(a) and (b), and
(c)the Regulator determines to exercise the function immediately on the basis that it is necessary to do so because there is, or the Regulator considers it likely that if the function were not exercised immediately there would be, an immediate risk to—
(i)the interests of members under an occupational or personal pension scheme, or
(ii)the assets of such a scheme.
(3) A case falls within this paragraph if—
(a)the Regulator gives a warning notice as described in Article 91(2)(a) in relation to a determination whether to exercise a regulatory function listed in paragraph (5), and
(b)before it has considered the representations of those persons to whom the warning notice is given, the Regulator determines to exercise the function immediately on the basis that it is necessary to do so because there is, or the Regulator considers it likely that if the function were not exercised immediately there would be, an immediate risk to—
(i)the interests of members under an occupational or personal pension scheme, or
(ii)the assets of such a scheme.
(4) A case falls within this paragraph if the Regulator—
(a)gives a warning notice as described in Article 91(2)(a) in relation to a determination whether to exercise a regulatory function which—
(i)is listed in paragraph (5), and
(ii)is not a function listed in Article 91(6) (functions which may be exercised immediately under the standard procedure),
(b)considers the representations of those persons to whom the warning notice is given, and
(c)determines to exercise the function immediately on the basis that it is necessary to do so because there is, or the Regulator considers it likely that if the function were not exercised immediately there would be, an immediate risk to—
(i)the interests of members under an occupational or personal pension scheme, or
(ii)the assets of such a scheme.
(5) The regulatory functions referred to in paragraphs (2), (3) and (4) are—
(a)the power to make or extend a restraining order under Article 16;
(b)the power to make a freezing order under Article 19;
(c)the power to make an order under Article 21(3) extending the period for which a freezing order has effect;
(d)the power to make an order under Article 22 validating action taken in contravention of a freezing order;
(e)the power to make an order under Article 24 directing that specified steps are taken;
(f)the power to make an order under Article 26 giving a direction where a freezing order ceases to have effect;
(g)the power to make an order under Article 27(3) directing the notification of members;
(h)the power to make an order under Article 210 modifying a scheme, giving directions or imposing a schedule of contributions;
(i)the power to make an order under Article 3(1) of the 1995 Order prohibiting a person from being a trustee;
(j)the power to make an order under Article 3(3) of that Order revoking such an order;
[F1(ja)the power under Article 3A(3) of that Order to give a notice waiving a prohibition;]
(k)the power to make an order under Article 4(1) of that Order suspending a trustee;
(l)the power to make an order under Article 4(5) of that Order revoking such an order;
(m)the power to make an order under Article 7 of that Order appointing a trustee;
(n)the power under Article 9 of that Order to exercise by order the same jurisdiction and powers as the High Court for vesting property in, or transferring property to, trustees in consequence of the appointment or removal of a trustee;
(o)the power to make an order under Article 11 of that Order directing or authorising an occupational pension scheme to be wound up;
(p)the power to make an order under Article 23 of that Order appointing an independent trustee;
(q)the power under Article 29(5) of that Order to give a notice waiving a disqualification under Article 29 of that Order;
(r)the power under Article 30(2) of that Order to exercise by order the same jurisdiction and powers as the High Court for vesting property in, or transferring property to, the trustees where a trustee becomes disqualified under Article 29 of that Order;
(s)the power to make an order under Article 67G(2) of that Order by virtue of which any modification of, or grant of rights under, an occupational pension scheme is void to any extent;
(t)the power to make an order under Article 67H(2) of that Order prohibiting, or specifying steps to be taken in relation to, the exercise of a power to modify an occupational pension scheme;
[F2(ta)a power under section 20H of the Pension Schemes Act;]
[F3(tb)the power under section 81 of the Pension Schemes Act 2021 to withdraw authorisation of a collective money purchase scheme;
(tc)the power to make a pause order under section 95 of that Act;
(td)the power to make an order under paragraph 2(2) of Schedule 5 to that Act extending the period for which a pause order has effect;
(te)the power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order;
(tf)the power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers;]
[F4(tg)the power to withdraw authorisation of a Master Trust scheme under section 19 of the Pension Schemes Act (Northern Ireland) 2021;
(th)the power to make a pause order under section 31 of that Act;
(ti)the power to make an order under paragraph 2(2) of Schedule 1 to that Act extending the period for which a pause order has effect;
(tj)the power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order;
(tk)the power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers;]
(u)such other regulatory functions as may be prescribed;
(v)the power under Article 96(1)(b) to vary or revoke in relation to the exercise of any of the regulatory functions mentioned in sub-paragraphs (a) to (u) other than that mentioned in sub-paragraph (j) or (l).
F1Art. 92(5)(ja) inserted (16.7.2015) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 19 para. 9; S.R. 2015/307, art. 2(1)(o)
F2Art. 92(5)(ta) inserted (3.3.2009 for certain purposes otherwise 6.4.2009) by Pensions Act (Northern Ireland) 2008 (c. 1), ss. 12(6), 21(1)(a); S.R. 2009/75, art. 2
F3Art. 92(5)(tb)-(tf) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in operation) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 6 para. 16; S.R. 2022/197, art. 3(a)
F4Art. 92(5)(tg)-(tk) inserted (16.3.2022 for specified purposes, 6.4.2022 in so far as not already in operation) by Pension Schemes Act (Northern Ireland) 2021 (c. 6), s. 44(2), Sch. 3 para. 17; S.R. 2022/110, art. 2(a)(b)