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Pensions Act 2004

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This is the original version (as it was originally enacted).

Section 10

SCHEDULE 2The reserved regulatory functions

Explanatory NotesShow EN

Part 1Functions under the Pension Schemes Act 1993 (c. 48)

1The power by direction under section 99(4) to grant an extension of the period within which the trustees or managers of a scheme are to carry out certain duties.

2The power by direction under section 101J(2) to extend the period for compliance with a transfer notice.

3The power under regulations made by virtue of section 168(4) to require a person to pay a penalty.

Part 2Functions under the Pensions Act 1995 (c. 26)

4The power to make an order under section 3(1) prohibiting a person from being a trustee.

5The power to make an order under section 3(3) revoking such an order.

6The power to make an order under section 4(1) suspending a trustee.

7The power to make an order under section 4(2) extending the period for which an order under section 4(1) of that Act has effect.

8The power to make an order under section 4(5) revoking an order under section 4(1) of that Act suspending a trustee.

9The power to make an order appointing a trustee under any of the following provisions of section 7—

(a)subsection (1) where a trustee is removed by an order under section 3 (prohibition orders);

(b)subsection (3)(a) or (c).

10The power under section 9 to exercise by order the same jurisdiction and powers as the High Court or the Court of Session for vesting property in, or transferring property to, trustees in consequence of the appointment or removal of a trustee.

11The power to require a person to pay a penalty under section 10 (including under regulations made by virtue of subsection (3) of that section).

12The power to make an order under section 11 directing or authorising an occupational pension scheme to be wound up.

13The power to give directions to trustees under section 15.

14The power under section 29(5) to give a notice waiving a disqualification under section 29 of that Act.

15The power under section 30(2) to exercise by order the same jurisdiction and powers as the High Court or the Court of Session for vesting property in, or transferring property to, the trustees where a trustee becomes disqualified under section 29 of that Act.

16The power to make an order under section 67G(2) by virtue of which any modification of, or grant of rights under, an occupational pension scheme is void to any extent.

17The power to make an order under section 67H(2) prohibiting, or specifying steps to be taken in relation to, the exercise of a power to modify an occupational pension scheme.

18The power to make an order under section 69 authorising the modification of an occupational pension scheme or modifying the scheme.

19The power to make an order under section 71A modifying an occupational pension scheme with a view to ensuring that it is properly wound up.

Part 3Functions under the Welfare Reform and Pensions Act 1999 (c. 30)

20The power by direction under section 2(3)(b) to remove a scheme from the register of stakeholder pension schemes.

Part 4Functions under this Act

21The power to make or extend a restraining order under section 20.

22The power to make an order under section 20(10) permitting payments out of an account that is subject to a restraining order.

23The power to make a repatriation order under section 21.

24The power to make a freezing order under section 23.

25The power to make an order under section 25(3) extending the period for which a freezing order has effect.

26The power to make an order under section 26 validating action taken in contravention of a freezing order.

27The power to make an order under section 28 directing that specified steps are taken.

28The power to make an order under section 30 giving a direction where a freezing order ceases to have effect.

29The power to make an order under section 31(3) directing the notification of members.

30The power to issue a contribution notice under section 38.

31The power to issue a direction under section 41(4) to the trustees or managers of an occupational pension scheme.

32The power to issue a revised contribution notice under section 41(9).

33The power to issue a financial support direction under section 43.

34The power to issue a contribution notice under section 47.

35The power to issue a direction under section 50(4) to the trustees or managers of an occupational pension scheme.

36The power to issue a revised contribution notice under section 50(9).

37The power to make a restoration order under section 52.

38The power to issue a contribution notice under section 55.

39The power to issue a notice under section 71 requiring a report to be provided to the Regulator.

40The power to make a direction under section 76(8) extending the retention period for documents taken into possession under section 75.

41The power to make a direction under section 78(10) extending the retention period for documents taken into possession under that section.

42The power to make an order under section 231 modifying a scheme, giving directions or imposing a schedule of contributions.

43The power to issue a ring-fencing notice under section 292.

44The power to vary or revoke under section 101—

(a)a determination made by the Determinations Panel whether to exercise one of the other functions listed in this Schedule, or

(b)an order, notice or direction made, issued or given in the exercise of one of those functions—

(i)by the Panel, or

(ii)by the Regulator in compliance with a direction of the Tribunal under section 103.

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