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The Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021

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1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021.

(2) They come into force on 1st October 2021.

(3) The amendments made by regulations 2(2) (except for regulation 2(2)(a)(iii)) and (3)(a), 3(2)(a) and (4), 5(a)(i) and (b) apply to an occupational pension scheme in relation to the first scheme year of that scheme which ends after 1st October 2021.

(4) The amendments made by regulations 2(2)(a)(iii), (3)(b) and (c), 3(2)(b) and (3) and 5(a)(ii) and (iii) apply to an occupational pension scheme in relation to the first scheme year of that scheme which ends after 31st December 2021.

(5) The amendments made by regulation 4(2) and (3) apply in relation to an occupational pension scheme from whichever date is later of the date—

(a)after the end of three months beginning with the last day of the first scheme year of that scheme which ends after 1st October 2021, or

(b)after the end of six months beginning with the day on which these Regulations come into force.

(6) The amendments made by regulation 6(2)(c), (3) and (4) apply to an occupational pension scheme in relation to the first charges year of that scheme which ends after 1st October 2021.

(7) For the purposes of this regulation—

“charges year” has the meaning given in regulation 2(1) of the Occupational Pension Schemes (Charges and Governance) Regulations 2015(1);

“scheme year” has the meaning given in regulation 1(2) of the Occupational Pension Schemes (Scheme Administration) Regulations 1996(2).

(1)

S. I. 2015/879. There are amendments to regulation 2(1) which are not relevant to this definition.

(2)

S.I. 1996/1715. There are amendments to regulation 1(2) which are not relevant to this definition.

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