Continuity strategy: administration charges
11.—(1) For the purposes of section 12(5) of the Act (continuity strategy requirement), the section of the continuity strategy setting out the levels of administration charges must set them out as follows.
(2) The section of the continuity strategy must set out all levels of administration charges in the current scheme year for each charge structure, including any discounted levels—
(a)for each arrangement, including a default arrangement, and any different levels in relation to any one arrangement;
(b)for any additional charges, including the reason for imposing them;
(c)for any third-party charges, including the reason for imposing them;
(d)for any other type of administration charge in the scheme, including the reason for imposing it.
(3) The levels must be set out on an annualised basis.
(4) Where there is a discounted level, the reason for charging the lower level must also be set out.