Part 3General

44Commencement

1

The following provisions come into force on the day this Act is passed—

a

the following provisions as they apply to existing Master Trust schemes within the meaning of Schedule 2—

i

sections 1 and 2 (definition of a Master Trust scheme);

ii

sections 17 and 18 (penalty notices);

iii

sections 20 to 22, 25 and 33, as modified by Schedule 2 (triggering events: notification requirements and prohibition on increasing charges);

iv

paragraphs 5 and 8 of Schedule 3 (power of Regulator to request information), and section 38 as it applies to those paragraphs;

v

section 39 (interpretation);

b

paragraphs 1 to 7 of Schedule 2, and section 37 as it applies to those paragraphs (Master Trusts operating before commencement: transitional provisions);

c

paragraphs 1 to 4, 5 and 12 of Schedule 3, and section 38 as it applies to those paragraphs (amendments to definitions of “scheme rules”);

d

section 41 (power to override contract terms);

e

this Part.

2

To the extent not already commenced by subsection (1), Part 1 comes into force on such day or days as the Secretary of State may by regulations appoint.

3

The Secretary of State may by regulations make transitional, transitory and saving provision in connection with the coming into force of any provision of this Act.

4

Regulations under this section may make—

a

incidental and supplementary provision, and

b

different provision for different purposes.