Pension Schemes Act (Northern Ireland) 2021

Application for authorisation N.I.

4.—(1) The trustees of a Master Trust scheme may apply to the Regulator for authorisation.

(2) The application must include the following—

(a) the scheme’s latest accounts;

(b) the latest accounts of each scheme funder;

(c) the scheme’s business plan (see section 9);

(d) the scheme’s continuity strategy (see section 12).

(3) In considering an application, the Regulator may take into account any matters it considers appropriate, including—

(a) additional information provided by the applicant, and

(b) subsequent changes to the application or to any information provided by the applicant.

(4) The application must be made in the manner and form specified by the Regulator.

(5) The Department may make regulations setting out—

(a) other information to be included in an application, and

(b) the application fee payable to the Regulator.

(6) Regulations under this section are subject to negative resolution.

Modifications etc. (not altering text)

C1 Pt. 1 modified (6.4.2022) by The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2022 (S.R. 2022/121), regs. 1, 28(2)

C2 Pt. 1 excluded (6.4.2022) by The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2022 (S.R. 2022/121), regs. 1, 27(1)

C3 Pt. 1 modified (6.4.2022) by The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2022 (S.R. 2022/121), regs. 1, 28(4)(a)

C4 Pt. 1 excluded (6.4.2022) by The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2022 (S.R. 2022/121), regs. 1, 26(1)

Commencement Information

I1 S. 4 not in operation at Royal Assent, see s. 44(2)

I2 S. 4 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I3 S. 4 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)