PART IITHE PENSIONS REGULATOR

Exercise of regulatory functions

Application of standard and special procedure90

1

The Regulator must comply with the standard procedure (see Article 91) or, where Article 92 applies, the special procedure (see Article 93) in a case where—

a

the Regulator considers that the exercise of one or more of the regulatory functions may be appropriate, or

b

an application is made under or by virtue of—

i

any of the provisions listed in Article 7(6), or

ii

any prescribed provision of this or any other statutory provision,

for the Regulator to exercise a regulatory function.

2

For the purposes of Article 91, references to the regulatory action under consideration in a particular case are—

a

in a case falling within paragraph (1)(a), references to the exercise of the one or more regulatory functions which the Regulator considers that it may be appropriate to exercise, and

b

in a case falling within paragraph (1)(b), references to the exercise of the regulatory function which is the subject-matter of the application.

3

Neither Article 91 (standard procedure) nor Article 93 (special procedure) applies in relation to a determination whether to exercise a regulatory function on a review under Article 94 (compulsory review of regulatory action).