88.—(1) The Regulator must determine the procedure that it proposes to follow in relation to the exercise of its regulatory functions.
(2) For the purposes of this Part the “regulatory functions” of the Regulator are—
(a)the power to issue an improvement notice under Article 9,
(b)the power to issue a third party notice under Article 10,
[F1(ba)the power to appoint a skilled person in relation to a public service pension scheme under Article 10A,]
(c)the reserved regulatory functions (see Schedule 2),
(d)the power to issue a clearance statement under Article 38,
(e)the power to issue a notice under Article 41(1) approving the details of arrangements,
(f)the power to issue a clearance statement under Article 42,
(g)the power to vary or revoke under Article 96 (to the extent that it does not fall within sub-paragraph (c)),
(h)the power to make an order under Article 138(8),
(i)the power to make an order under Article 198(4),
(j)the power to grant or revoke authorisation under Article 264,
(k)the power to grant or revoke approval under Article 265,
(l)the power to issue a notice under Article 269(5),
(m)the power by direction under Article 4(3)(a) of the 1999 Order to refuse to register a scheme under Article 4 of that Order,
(n)the power to make an order under Article 7 of the 1995 Order appointing a trustee (to the extent that it does not fall within sub-paragraph (c)),
(o)the power to make an order under Article 23 of that Order appointing an independent trustee,
(p)the power to give directions under Article 72B of that Order (directions facilitating winding up), [F2and]
[F3(pa)the power to give a direction under section 74(2) of the Pension Schemes Act 2021 (direction to obtain actuarial valuation or take other steps to remedy or mitigate failure in relation to a collective money purchase scheme),
(pb)the power to give a notice under section 80(1) or (4) of that Act (risk notices),
(pc)the power to give a direction under section 80(6) of that Act (direction to implement proposals in a resolution plan),
(pd)the power to give a direction under section 90(4) of that Act (direction to submit implementation strategy), and]
[F4(pe)the power to give a direction under section 26(7) of the Pension Schemes Act (Northern Ireland) 2021 (direction to submit implementation strategy), and]
(q)such other functions of the Regulator as may be prescribed.
(3) The Determinations Panel must determine the procedure to be followed by it in relation to any exercise by it on behalf of the Regulator of—
(a)the power to determine whether to exercise a regulatory function, and
(b)where the Panel so determines to exercise a regulatory function, the power to exercise the function in question.
(4) The procedure determined under this Article—
(a)must provide for the procedure required under—
(i)Article 91 (standard procedure), and
(ii)Article 93 (special procedure), and
(b)may include such other procedural requirements as the Regulator or, as the case may be, the Panel considers appropriate.
(5) This Article is subject to—
(a)Articles 94 to 98 (the remaining provisions concerning the procedure in relation to the regulatory functions), and
(b)any regulations made by the Secretary of State under paragraph 19 of Schedule 1 to the Pensions Act 2004 (c. 35).
F1Art. 88(2)(ba) inserted (1.4.2015) by Public Service Pensions Act (Northern Ireland) 2014 (c. 2), s. 37(2), Sch. 4 para. 17; S.R. 2015/3, art. 4(1)(b) (with art. 4(2))
F2Word in art. 88(2)(p) omitted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in operation) by virtue of Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 6 para. 15(a); S.R. 2022/197, art. 3(a)
F3Art. 88(2)(pa)-(pd) inserted (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in operation) by Pension Schemes Act 2021 (c. 1), s. 131(1)(3)(a), Sch. 6 para. 15(b); S.R. 2022/197, art. 3(a)
F4Art. 88(2)(pe) inserted (16.3.2022 for specified purposes, 6.4.2022 in so far as not already in operation) by Pension Schemes Act (Northern Ireland) 2021 (c. 6), s. 44(2), Sch. 3 para. 16; S.R. 2022/110, art. 2(a)(b)