Textual Amendments
F1Pt. 20A inserted (3.3.2015) by Pension Schemes Act 2015 (c. 8), s. 89(1)(a), Sch. 3 para. 2 (with s. 87, Sch. 3 para. 18(1))
Modifications etc. (not altering text)
C1Pt. 20A functions transferred (1.4.2016) by The Transfer of Functions (Pensions Guidance) Order 2015 (S.I. 2015/2013), arts. 1(2), 2 (with art. 4)
(1)If the [F3Secretary of State] [F4considers] that a designated guidance provider has failed to comply with a standard set under section 333H the [F3Secretary of State] may direct the provider to take such steps as the [F3Secretary of State] [F4considers] appropriate—
(a)to prevent the continuance or recurrence of the failure;
(b)to make redress to those affected by the failure.
(2)The [F3Secretary of State] may give a direction under subsection (1) only if the FCA has made a recommendation under section 333J(1)(b) (although the terms of the direction need not be the same as that recommended by the FCA).
(3)The [F3Secretary of State] must—
(a)give notice in writing of a direction under subsection (1), and
(b)send a copy of the notice to the FCA.
(4)The notice must inform the designated guidance provider that representations about why the direction should not be published may be made to the [F3Secretary of State] within a specified time.
(5)Once the time specified under subsection (4) has elapsed, the [F3Secretary of State] must publish the direction unless—
(a)the [F3Secretary of State] [F5considers] that to do so would be against the public interest;
(b)having considered representations made by the designated guidance provider within the specified time, the [F3Secretary of State] [F5considers] that it would be inappropriate to do so for some other reason.
(6)If the condition in subsection (5)(a) or (b) is satisfied in relation to a direction but would not be satisfied if the [F3Secretary of State] published part only of the direction, the [F3Secretary of State] may publish that part.
(7)A direction under subsection (1) is enforceable, on an application made by the [F3Secretary of State], by injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.]
Textual Amendments
F2Word in s. 333M heading omitted (1.4.2016) by virtue of The Transfer of Functions (Pensions Guidance) Order 2015 (S.I. 2015/2013), art. 1(2), Sch. para. 1(11)(c) (with art. 4)
F3Words in ss. 333M(1)-(7) substituted (1.4.2016) by The Transfer of Functions (Pensions Guidance) Order 2015 (S.I. 2015/2013), art. 1(2), Sch. para. 1(11)(a) (with art. 4)
F4Word in s. 333M(1) substituted (1.4.2016) by The Transfer of Functions (Pensions Guidance) Order 2015 (S.I. 2015/2013), art. 1(2), Sch. para. 1(11)(b) (with art. 4)
F5Word in s. 333M(5) substituted (1.4.2016) by The Transfer of Functions (Pensions Guidance) Order 2015 (S.I. 2015/2013), art. 1(2), Sch. para. 1(11)(b) (with art. 4)