PART 2

Climate Change Governance and Reporting

Climate change governance etc. requirements: authorised collective money purchase schemes
5
1
Trustees of authorised collective money purchase schemes must comply with the requirements in Part 1 of the Schedule to these Regulations from the date on which the scheme is authorised.
2
The requirements imposed on trustees in accordance with paragraph (1) continue to apply where the scheme becomes a formerly authorised collective money purchase scheme, unless—
a
the relevant assets of the scheme were less than £500 million on the scheme year end date immediately preceding the scheme year in which authorisation ceased; or
b
on a scheme year end date after authorisation ceased the scheme has relevant assets of less than £500 million.
3
Where a scheme meets the description specified in paragraph (2)(a) or (b), the requirements imposed on trustees in accordance with paragraph (1) cease to apply—
a
with immediate effect where the scheme meets the description specified in paragraph (2)(a); or
b
from the scheme year end date on which the relevant assets were less than £500 million where the scheme meets the description specified in paragraph (2)(b).
4
Trustees of a formerly authorised collective money purchase scheme—
a
in respect of which the requirements in Part 1 of the Schedule to these Regulations have ceased to apply in accordance with paragraph (3) or (5); and
b
which on a subsequent scheme year end date has relevant assets equal to, or exceeding, £1 billion,
must comply with the requirements in Part 1 of the Schedule to these Regulations from the scheme year commencement date which is one scheme year and one day after that subsequent scheme year end date.
5
Trustees of a formerly authorised collective money purchase scheme—
a
in respect of which the requirements in Part 1 of the Schedule to these Regulations apply in accordance with paragraph (4); and
b
which on a subsequent scheme year end date has relevant assets of less than £500 million,
cease to be subject to the requirements in Part 1 of the Schedule to these Regulations from that subsequent scheme year end date.
Reg. 5 in force at 1.10.2021, see reg. 1(1)