3.—(1) If a pause order is made in relation to a Master Trust scheme, the Regulator may by order validate action taken in contravention of the order.N.I.
(2) Any of the following persons may apply to the Regulator for an order under this paragraph validating particular action—
(a)the trustees of the scheme;
(b)any person directly affected by the action.
Commencement Information
I1Sch. 1 para. 3 not in operation at Royal Assent, see s. 44(2)
I2Sch. 1 para. 3 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)
I3Sch. 1 para. 3 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)