Part 1

The Pensions Regulator

Exercise of regulatory functions

The Regulator’s procedure in relation to its regulatory functions
93
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 section 13,
b
the power to issue a third party notice under section 14,
c
the reserved regulatory functions (see Schedule 2),
d
the power to issue a clearance statement under section 42,
e
the power to issue a notice under section 45(1) approving the details of arrangements,
f
the power to issue a clearance statement under section 46,
g
the power to vary or revoke under section 101 (to the extent that it does not fall within paragraph (c)),
h
the power to make an order under section 154(8),
i
the power to make an order under section 219(4),
j
the power to grant or revoke authorisation under section 288,
k
the power to grant or revoke approval under section 289,
l
the power to issue a notice under section 293(5),
m
the power by direction under section 2(3)(a) of the Welfare Reform and Pensions Act 1999 (c. 30) to refuse to register a scheme under section 2 of that Act,
n
the power to make an order under section 7 of the Pensions Act 1995 (c. 26) appointing a trustee (to the extent that it does not fall within paragraph (c)),
o
the power to make an order under section 23 of that Act appointing an independent trustee,
p
the power to give directions under section 72B of that Act (directions facilitating winding up), 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 section—
a
must provide for the procedure required under—
i
section 96 (standard procedure), and
ii
section 98 (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 section is subject to—
a
sections 99 to 104 (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.