1.—(1) Subject to sub-paragraph (2), the Regulator may authorise—
(a)any executive member of the Regulator,
(b)any other member of the staff of the Regulator, or
(c)any of its committees (other than the appointments committee, the Determinations Panel and any of that Panel’s sub-committees),
to exercise, on behalf of the Regulator, such of its functions, in such circumstances, as the Regulator may determine.
(2) Sub-paragraph (1) does not apply to the functions of the Regulator listed in paragraph 20(2) of Schedule 1 to the Pensions Act 2004 (c. 35).
(3) The Regulator may authorise the Determinations Panel, in such circumstances as the Regulator may determine, to exercise on behalf of the Regulator—
(a)the power to determine whether to exercise one or more of the regulatory functions listed in sub-paragraph (4), and
(b)where the Panel so determines to exercise the regulatory function in question, the power to exercise it.
(4) The regulatory functions mentioned in sub-paragraph (3) are—
(a)the power to issue an improvement notice under Article 9;
(b)the power to issue a third party notice under Article 10;
(c)the power to issue a clearance statement under Article 38;
(d)the power to issue a notice under Article 41(1) approving the details of arrangements;
(e)the power to issue a clearance statement under Article 42;
(f)the power to make an order under Article 138(8);
(g)the power to make an order under Article 198(4);
(h)the power to grant or revoke authorisation under Article 264;
(i)the power to grant or revoke approval under Article 265;
(j)the power to issue a notice under Article 269(5);
(k)the power by direction under Article 4(3)(a) of the 1999 Order to refuse to register a scheme under Article 4 of that Order;
(l)the power to appoint a trustee under any of the following provisions of Article 7 of the 1995 Order—
(i)paragraph (1) where a trustee is removed by reason of his disqualification;
(ii)paragraph (3)(b);
(m)the power to appoint an independent trustee under Article 23 of that Order;
(n)the power to give directions under Article 72B of that Order facilitating a winding up.
(5) The Regulator may also authorise the Determinations Panel, in such circumstances as the Regulator may determine, to exercise on behalf of the Regulator such functions (other than those mentioned in paragraph 20(2)(a) to (c) of Schedule 1 to the Pensions Act 2004 (c. 35)) as the Regulator considers necessary for the effective exercise by the Panel of—
(a)a function of the Regulator which it is authorised to exercise by virtue of sub-paragraph (3),
(b)a function of the Regulator mentioned in paragraph 20(2)(d) of Schedule 1 to the Pensions Act 2004 (functions exercisable only by the Panel), or
(c)a function of the Panel under Article 88(3) or 94(11) or paragraph 18(2) of Schedule 1 to the Pensions Act 2004.
(6) This paragraph is subject to any regulations made by the Department under paragraph 2.
(7) In this paragraph—
“appointments committee” has the meaning given by paragraph 11(1) of Schedule 1 to the Pensions Act 2004;
“executive member” has the meaning given by section 2(6)(a) of that Act.