PART 1Master Trusts
Authorisation criteria
I1I29Financial sustainability requirement: business plan
1
A scheme strategist of a Master Trust scheme must prepare a business plan for the scheme.
2
The Department may make regulations setting out—
a
information that must be included in a business plan, and
b
any other requirements with which a business plan must comply.
3
The scheme strategist must review the business plan at least once a year, and revise it if appropriate.
4
The scheme strategist must revise the business plan at any time if there is any significant change to the information included in it.
5
The business plan, and any revisions to it, must be approved by each scheme funder, any other scheme strategist and the trustees.
6
The scheme strategist or the trustees must provide the Regulator with the most recent business plan, and any supporting information or documents required by the Regulator—
a
on application for authorisation (see section 4);
b
within three months of the plan being revised;
c
at any other time, on request from the Regulator.
7
The first regulations that are made under this section are subject to the confirmatory procedure.
8
Any subsequent regulations under this section are subject to negative resolution.