PART 1Collective money purchase benefits

Triggering events and continuity options

I1I235When a decision to withdraw authorisation becomes final

1

For the purposes of this Part, in relation to an item 1 or 2 triggering event, a decision to withdraw authorisation becomes final—

a

in the circumstances set out in relation to the event in the second column of the table in subsection (2), and

b

on the date given in relation to those circumstances in the third column of that table.

2

The table is—

Triggering event

Circumstances

Date

Item 1 (issue of warning notice under the standard procedure)

1

The Pensions Regulator makes a determination to withdraw the scheme's authorisation, and

2

there is no referral of the determination to the Tribunal within the time period allowed for doing so.

The date of the Pensions Regulator's determination.

Item 2 (issue of determination notice under the special procedure)

1

On a review under section 99 of the Pensions Act 2004, the Pensions Regulator makes a determination that the scheme's authorisation should be withdrawn, and

2

there is no referral of the determination to the Tribunal within the time period allowed for doing so.

The date of the Pensions Regulator's determination.

Item 1 or 2

1

On a referral to the Tribunal of a determination by the Pensions Regulator, the Tribunal makes a determination the effect of which is that the scheme's authorisation should be withdrawn, and

2

either—

a

no appeal is brought against the Tribunal's determination within the time period allowed for doing so, or

b

an appeal is brought within that time period but is later withdrawn.

The date of the Tribunal's determination.

Item 1 or 2

The effect of an appeal against a determination by the Tribunal is that the scheme's authorisation should be withdrawn.

The date on which the appeal is finally disposed of.

3

In this section “the Tribunal” has the meaning given in—

a

section 96(7) of the Pensions Act 2004, in a case where the standard procedure applies;

b

section 99(13) of that Act, in a case where the special procedure applies.