C1Part 1The Pensions Regulator
Exercise of regulatory functions
101Powers to vary or revoke orders, notices or directions etc
I11
The Regulator may vary or revoke—
a
any determination by the Regulator whether to exercise a regulatory function, or
b
any order, notice or direction made, issued or given by the Regulator in the exercise of a regulatory function.
2
Subsection (1)(b) does not apply to—
I1a
an order under section 3(3) of the Pensions Act 1995 (c. 26) revoking a prohibition order under that section,
I1b
an order under section 4(5) of that Act revoking a suspension order under that section,
I1c
a direction under section 2(3) of the Welfare Reform and Pensions Act 1999 (c. 30) refusing to register a scheme under section 2 of that Act or removing a scheme from the register of stakeholder pension schemes, or
d
such other orders, notices or directions made, issued or given by the Regulator, in the exercise of a regulatory function, as may be prescribed.
I13
A variation or revocation of an order, a notice or a direction must be made by an order, a notice or a direction (as the case may be).
I14
A variation or revocation made under this section must take effect from a specified time which must not be a time earlier than the time when the variation or revocation is made.
I15
The power to vary or revoke under this section—
a
is not to be treated for the purposes of subsection (1) as a regulatory function, and
b
is in addition to any such power which is conferred on the Regulator by, or by virtue of, this or any other enactment.
Pt. 1 applied in part (with modifications) (20.7.2005 for specified purposes, 1.9.2005 for specified purposes, 5.12.2005 for specified purposes) by The Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986), regs. 1(1), 4, Sch. 1 Pt. 1 (as amended (17.7.2008) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2008 (S.I. 2008/1903), regs. 1, 5(2), 13; (10.7.2009) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009 (S.I. 2009/1851), regs. 1, 5, 18; (2.4.2010) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/1149), regs. 1, 5, 15)