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Pension Schemes Act 2017

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Section 38

SCHEDULE 3E+W+SMinor and consequential amendments

This schedule has no associated Explanatory Notes

Pension Schemes Act 1993 (c. 48)E+W+S

1The Pension Schemes Act 1993 is amended as follows.E+W+S

2In section 100B(2) (meaning of “scheme rules”: occupational pension schemes)—E+W+S

(a)in paragraph (a), at the end insert—

(xiv)sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act 2017;;

(b)in paragraph (b), at the end insert—

(xi)sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act 2017.

3In section 101AI(8) (rights under section 101AB: further provision)—E+W+S

(a)in paragraph (a), at the end insert—

(xii)sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act 2017;;

(b)in paragraph (b), at the end insert—

(x)sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act 2017.

Pensions Act 1995 (c. 26)E+W+S

4In section 67A(9) of the Pensions Act 1995 (subsisting rights provisions: meaning of “scheme rules”)—E+W+S

(a)in paragraph (a), at the end insert—

(xiii)sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act 2017;;

(b)in paragraph (b), at the end insert—

(xi)sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act 2017.

Pensions Act 2004 (c. 35)E+W+S

5The Pensions Act 2004 is amended as follows.E+W+S

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Commencement Information

I1Sch. 3 para. 5 in force at Royal Assent for specified purposes, see s. 44(1)(a)(iv)

Prospective

6In section 13 (improvement notices), in subsection (7) (meaning of “pensions legislation”)—E+W+S

(a)in the opening words, after “by virtue of” insert “ any of the following ”;

(b)omit the “or” at the end of paragraph (f);

(c)after paragraph (g) insert—

(h)Part 1 of the Pension Schemes Act 2017.

Prospective

7In section 70 (duty to report breaches of the law), in subsection (1), at the end insert—E+W+S

(f)a scheme strategist or scheme funder of a Master Trust scheme within the meaning of Part 1 of the Pension Schemes Act 2017 (see section 39 of that Act).

8In section 72 (provision of information), in subsection (1A), after “2008” insert “ or Part 1 of the Pension Schemes Act 2017 ”.E+W+S

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I2Sch. 3 para. 8 in force at Royal Assent for specified purposes, see s. 44(1)(a)(iv)

9(1)Section 90 (codes of practice) is amended as follows.E+W+S

(2)In subsection (2) (matters on which the Pensions Regulator must issue codes of practice), after paragraph (j) insert—

(ja)the process for making an application for authorisation of a Master Trust scheme under Part 1 of the Pension Schemes Act 2017;

(jb)the matters that the Pensions Regulator expects to take into account in deciding whether it is satisfied that a Master Trust scheme meets the authorisation criteria under that Part (see section 5 of the Pension Schemes Act 2017);.

(3)In subsection (6), in the definition of “the pensions legislation”—

(a)omit the “or” at the end of paragraph (e), and

(b)after paragraph (f) insert , or

(g)the Pension Schemes Act 2017.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I3Sch. 3 para. 9 in force at 1.2.2018 by S.I. 2018/62, reg. 2

Prospective

10In section 93(2) (“regulatory functions” of the Regulator subject to procedure), omit the “and” at the end of paragraph (p) and after that paragraph insert—E+W+S

(pa)the power to give a direction under section 26(7) of the Pension Schemes Act 2017 (direction to submit implementation strategy), and.

Prospective

11In section 97(5) (special procedure: applicable cases), after paragraph (ta) insert—E+W+S

(tb)the power to withdraw authorisation of a Master Trust scheme under section 19 of that Act;

(tc)the power to make a pause order under section 31 of that Act;

(td)the power to make an order under paragraph 2(2) of Schedule 1 to that Act extending the period for which a pause order has effect;

(te)the power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order;

(tf)the power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers;.

12In section 318(3) (interpretation: scheme rules)—E+W+S

(a)in paragraph (a), at the end insert—

(xiii)sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act 2017;;

(b)in paragraph (b), at the end insert—

(xi)sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act 2017.

Prospective

13In Schedule 2 (functions exercisable by the Determinations Panel), after Part 4 insert—E+W+S

Part 4A E+W+SFunctions under the Pension Schemes Act 2017

44AThe power to withdraw authorisation of a Master Trust scheme under section 19.

44BThe power to give a direction under section 28(4) (direction to pursue continuity option).

44CThe power to make a pause order under section 31.

44DThe power to make an order under paragraph 2(2) of Schedule 1 extending the period for which a pause order has effect.

44EThe power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order.

44FThe power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers.

44GTerms used in this Part have the same meaning as in Part 1 of the Pension Schemes Act 2017.

Prospective

Pensions Act 2008 (c. 30)E+W+S

14In section 31 of the Pensions Act 2008 (effect of freezing order or assessment period: qualifying schemes)—E+W+S

(a)in subsection (3), in the definition of “freezing event”, after paragraph (b) insert , or

(c)the making of a pause order under section 31 of the Pension Schemes Act 2017;;

(b)in subsection (3), in the definition of “relevant provision”, after paragraph (b) insert—

(c)in relation to a pause order, provision contained in the order or the provision made with respect to the order by section 31 of the Pension Schemes Act 2017.;

(c)in the section heading, for “or assessment period” substitute “ , assessment period or pause order ”.

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