PART 3
CHAPTER 1GOVERNANCE OF RELEVANT SCHEMES
Appointment of service providers15
1
The Administration Regulations are amended in accordance with paragraphs (2) and (3).
2
For the heading to Part II substitute “ADVISERS AND SERVICE PROVIDERS”.
3
After regulation 6 (duty to disclose information) insert—
Appointment of service providers in respect of relevant schemes6A
1
The trust deed or scheme rules must not contain a provision that—
a
requires that the administrative, fund management, advisory or other services in respect of the scheme are provided by a person identified in any document; or
b
restricts the choice of person who may be appointed to provide such services.
2
Paragraph (1) overrides any provision of a relevant scheme to the extent that it conflicts with that paragraph.
3
In relation to a relevant scheme which is not a money purchase scheme, this regulation applies only in relation to services which are provided in connection with the provision of money purchase benefits.