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Amendment of regulation 11B

9.—(1) Regulation 11B (relevant information)(1) is amended as follows.

(2) In paragraph (2), for “paragraph (4)” substitute “paragraphs (2B) and (5)”.

(3) After paragraph (2) insert—

(2A) This paragraph applies where the relevant contract—

(a)was entered into before 6th April 2016; and

(b)has not been varied or renewed on or after that date.

(2B) Subject to paragraph (5), where paragraph (2A) applies regulation 11A does not apply until the expiry of the period of 6 months beginning with 1st October 2017..

(4) At the beginning of paragraph (3) insert “Except in a case to which paragraph (2A) applies,”.

(5) After paragraph (3) insert—

(3A) In a case to which paragraph (2A) applies, subject to paragraph (5), the service provider must confirm in writing to the trustees or managers of the specified scheme within 1 month beginning with 1st April 2018 that it is complying with the prohibition in regulation 11A(2) in relation to all members to whom paragraph (2A) applies..

(6) In paragraph (5)—

(a)for “paragraph (2)” substitute “paragraphs (2) or (2B)”; and

(b)for “paragraph (3)” substitute “paragraphs (3) or (3A)”.

(7) In paragraph (6), after “paragraph (3)” insert “or (3A)”.

(1)

Regulation 11B was inserted by S.I. 2016/304.