PART IITHE PENSIONS REGULATOR
Exercise of regulatory functions
Powers to vary or revoke orders, notices or directions etc.96
1
The Regulator may vary or revoke—
a
any determination by the Regulator whether to exercise a regulatory function, or
b
any order, notice or direction made, issued or given by the Regulator in the exercise of a regulatory function.
2
Paragraph (1)(b) does not apply to—
a
an order under Article 3(3) of the 1995 Order revoking a prohibition order under that Article,
b
an order under Article 4(5) of that Order revoking a suspension order under that Article,
c
a direction under Article 4(3) of the 1999 Order refusing to register a scheme under that Article or removing a scheme from the register of stakeholder pension schemes, or
d
such other orders, notices or directions made, issued or given by the Regulator, in the exercise of a regulatory function, as may be prescribed.
3
A variation or revocation of an order, a notice or a direction must be made by an order, notice or direction (as the case may be).
4
A variation or revocation made under this Article must take effect from a specified time which must not be a time earlier than the time when the variation or revocation is made.
5
The power to vary or revoke under this Article—
a
is not to be treated for the purposes of paragraph (1) as a regulatory function, and
b
is in addition to any such power which is conferred on the Regulator by, or by virtue of, this or any other statutory provision.