General authorisation to accept contributions from European employersN.I.
This section has no associated Explanatory Memorandum
264.—(1) An application by the trustees or managers of an occupational pension scheme for authorisation under this Article must be made to the Regulator in the prescribed form and in the prescribed manner.
(2) On receipt of the application, the Regulator must—
(a)where the Regulator is satisfied that the applicant meets prescribed conditions, grant the authorisation, and
(b)in any other case, refuse the authorisation.
(3) Regulations may make provision as to—
(a)the revocation by the Regulator of authorisation under this Article, and
(b)the criteria to be applied by the Regulator in reaching any decision relating to the revocation of authorisation.