Pension Schemes Act (Northern Ireland) 2021

Commencement

44.—(1) The following provisions come into operation on the day after this Act is passed—

(a) the following provisions as they apply to existing Master Trust schemes within the meaning of Schedule 2—

(i) sections 1 and 2 (definition of a Master Trust scheme);

(ii) section 6(2) (referral to Tribunal of refusal to grant authorisation);

(iii) sections 17 and 18 (penalty notices);

(iv) sections 20 to 22, 25 and 33, as modified by Schedule 2 (triggering events: notification requirements and prohibition on increasing charges);

(v) paragraphs 5 and 9 of Schedule 3 (power of Regulator to request information), and section 38 as it applies to those paragraphs;

(vi) section 39 (interpretation of Part 1);

(b) paragraphs 1 to 7 of Schedule 2, and section 37 as it applies to those paragraphs (Master Trusts operating before commencement: transitional provisions);

(c) paragraphs 1 to 6 of Schedule 3, and section 38 as it applies to those paragraphs (amendments to definitions of “scheme rules”);

(d) section 41 (power to override contract terms);

(e) this Part.

(2) To the extent not already commenced by subsection (1), Part 1 comes into operation on such day or days as the Department may by order appoint.

(3) The Department may by order make incidental, supplementary, transitional, transitory and saving provision in connection with the coming into operation of any provision of this Act.