Part 1

Master Trusts

Supplementary

Regulations modifying application of Part 1
40
1
The Secretary of State may make regulations—
a
applying some or all of the provisions of this Part to pension schemes (other than Master Trust schemes) that have the characteristics set out in the regulations, or
b
disapplying some or all of those provisions from Master Trust schemes that have the characteristics set out in the regulations.
2
The Secretary of State may make regulations which provide for two or more pension schemes to be treated as a single Master Trust scheme for the purposes of this Part, in the circumstances set out in the regulations.
3
Those circumstances may include—
a
the schemes being under common control;
b
the schemes being subject to common rules;
c
the schemes being provided by the same service provider.
4
Regulations under this section are subject to affirmative resolution procedure.
S. 40 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)
Pt. 1 excluded (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 26
Pt. 1 excluded (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 27
Pt. 1 modified (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 28(2)
Pt. 1 modified (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 28(3)(4)(a)(b)
S. 40 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)
Pt. 1: power to disapply conferred (11.2.2021 for specified purposes, 1.8.2022 in so far as not already in force) by Pension Schemes Act 2021 (c. 1), ss. 47(3)(b), 131(1)(3)(a); S.I. 2022/721, reg. 3(a)