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Pensions Act 2004

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  • specified provision(s) amendment to earlier commencing SI 2005/275 Sch. Pt. 7 by S.I. 2005/695 art. 7

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Prospective

DelegationE+W+S+N.I.

20(1)The Regulator may authorise—E+W+S+N.I.

(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)But sub-paragraph (1) does not apply to—

(a)the non-executive functions of the Regulator listed in subsection (4) of section 8 (which, by virtue of subsection (2) of that section, must be discharged by the committee established under that section),

(b)the duty of the Regulator to appoint the chairman and other members of the Determinations Panel under section 9,

(c)the duty of the Regulator to determine the terms and conditions of their appointments under paragraph 12(1), and

(d)the functions of the Regulator which are exercisable only by the Panel by virtue of—

(i)section 10(1) (the power in certain circumstances to determine whether to exercise the functions listed in Schedule 2 and to exercise them) or any corresponding provision in force in Northern Ireland, or

(ii)section 99(10) (the functions concerning the compulsory review of certain determinations) or any corresponding provision in force in Northern Ireland.

(3)The Regulator may authorise the appointments committee to exercise the power under paragraph 18 to determine the committee’s own procedure (including quorum).

(4)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 (5), and

(b)where the Panel so determines to exercise the regulatory function in question, the power to exercise it.

(5)The regulatory functions mentioned in sub-paragraph (4) are—

(a)the power to issue an improvement notice under section 13;

(b)the power to issue a third party notice under section 14;

(c)the power to issue a clearance statement under section 42;

(d)the power to issue a notice under section 45(1) approving the details of arrangements;

(e)the power to issue a clearance statement under section 46;

(f)the power to make an order under section 154(8);

(g)the power to make an order under section 219(4);

(h)the power to grant or revoke authorisation under section 288;

(i)the power to grant or revoke approval under section 289;

(j)the power to issue a notice under section 293(5);

(k)the power by direction under section 2(3)(a) of the Welfare Reform and Pensions Act 1999 (c. 30) to refuse to register a scheme under section 2 of that Act;

(l)the power to appoint a trustee under any of the following provisions of section 7 of the Pensions Act 1995 (c. 26)—

(i)subsection (1) where a trustee is removed by reason of his disqualification;

(ii)subsection (3)(b);

(m)the power to appoint an independent trustee under section 23 of that Act;

(n)the power to give directions under section 72B of that Act facilitating a winding up.

(6)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 sub-paragraph (2)(a) to (c)) 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 (4),

(b)a function of the Regulator mentioned in sub-paragraph (2)(d) (functions exercisable only by the Panel), or

(c)a function of the Panel under section 93(3), section 99(11) or paragraph 18(2) of this Schedule (procedure).

(7)This paragraph is subject to any regulations made by the Secretary of State under paragraph 21.

21The Secretary of State may make regulations—E+W+S+N.I.

(a)limiting the extent to which any of the functions mentioned in subsection (8) of section 8 may be delegated by the committee established under that section to any of its members or any of its sub-committees under that subsection;

(b)limiting the extent to which any of the functions mentioned in subsection (9) of section 10 may be delegated by the Determinations Panel to any of its members or any of its sub-committees under that subsection;

(c)limiting the extent to which functions of the Regulator may be delegated under paragraph 20;

(d)limiting the delegation under paragraph 20 of any power to delegate contained in that paragraph;

(e)permitting the Regulator in prescribed circumstances to delegate to prescribed persons prescribed functions of the Regulator.

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