Commencement
- Section 44 provides for the commencement of the provisions within the Act.
- Section 44(1)(a) provides that the sections relating to the definition of a Master Trust (Sections 1 and 2), penalty notices (sections 17 and 18), the triggering events (sections 20 to 22, 25 and 33 (as modified by Schedule 2)), certain information powers (paragraphs 5 and 8 of Schedule 3 (and section 38 insofar as it applies to those paragraphs)) and interpretation (section 39), will come into force on Royal Assent, in so far as they apply to Master Trusts in operation before that date.
- Section 44(1) (b) provides that paragraphs 1 to 7 of Schedule 2 (Master Trusts in operation before commencement: transitional provisions), as well as section 37 (transitional and consequential provision), as it applies to those paragraphs, will also come into force on Royal Assent.
- Section 44(1) (c) provides that paragraphs 1 to 4, 5 and 12 of Schedule 3 (minor and consequential amendments), as well as section 38 (minor and consequential amendments), as it applies to those paragraphs, will also come into force on Royal Assent.
- Section 44(1)(d) and (e), provides that section 41 (power to restrict charges etc.), and Part 3 (General), will also come into force on Royal Assent
- Section 44(2) provides that the provisions in Part 1 that are not mentioned in subsection (1) will come into force on such day(s) as appointed in regulations.
- Section 44(3) provides that regulations under this section may make transitional or transitory provision or savings.
- Section 44(4) provides that regulations made under section 42 may make incidental and supplementary provision, and different provision for different purposes.
- These powers will be subject to no parliamentary procedure.
