EXPLANATORY NOTE
(This note is not part of the Regulations)
These are the second commencement regulations made under the Pension Schemes Act 2021 (c. 1) (“the Act”).
Regulation 2 corrects by bringing into force on 25th June 2021 paragraph 12(2) of Schedule 7 to the Act (amendment to section 316 of the Pensions Act 2004) and section 116 (minor and consequential amendments) and paragraphs 2 and 12(1) of Schedule 7 (amendments to the Pensions Act 2004), insofar as they relate to paragraph 12(2).
Paragraph 12(2) of Schedule 7 to the Act amends section 316 of the Pensions Act 2004 (c. 35) (Parliamentary control of subordinate legislation) so as to include regulations under section 38E(2)(a) (section 38 contribution notice: constitution of resources of employer) and 38E(2)(b) (section 38 contribution notice: valuation of resources of employer) in the list of regulations and orders under the Pensions Act 2004 which are subject to the affirmative procedure.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.