Part 1The Pensions Regulator
The Determinations Panel
10Functions exercisable by the Determinations Panel
1
The Determinations Panel is to exercise on behalf of the Regulator—
a
the power to determine, in the circumstances described in subsection (2), whether to exercise a reserved regulatory function, and
b
where it so determines to exercise a reserved regulatory function, the power to exercise the function in question.
2
Those circumstances are—
a
where the Regulator considers that the exercise of the reserved regulatory function may be appropriate, or
b
where an application is made under, or by virtue of, any of the provisions listed in subsection (6) for the Regulator to exercise the reserved regulatory function.
3
Where subsection (1) applies, the powers mentioned in that subsection are not otherwise exercisable by or on behalf of the Regulator.
4
For the purposes of this Part, a function of the Regulator is a “reserved regulatory function” if it is a function listed in Schedule 2.
5
Regulations may amend Schedule 2 by—
a
adding any function of the Regulator conferred by, or by virtue of, this or any other enactment,
b
omitting any such function, or
c
altering the description of any such function contained in that Schedule.
6
The provisions referred to in subsection (2)(b) are—
a
section 20(10) (application to permit payments out of an account that is subject to a restraining order);
b
section 26(2) (application for order validating action taken in contravention of freezing order);
c
section 41(7) (application for the issue of a revised contribution notice under section 41(9));
d
section 50(7) (application for the issue of a revised contribution notice under section 50(9));
e
section 3(3) of the Pensions Act 1995 (c. 26) (application for revocation of prohibition order);
f
section 4(5) of that Act (application for revocation of a suspension order);
g
section 7(5A) of that Act (application for appointment of a trustee under section 7(3)(a) or (c) of that Act);
h
section 29(5) of that Act (application for waiver of disqualification);
i
section 69(1) of that Act (application for order authorising modification or modifying a scheme);
j
section 71A(2) of that Act (application for modifying a scheme to secure winding up);
k
section 99(4A) of the Pension Schemes Act 1993 (c. 48) (application for extension under section 99(4) of that Act of a period for compliance);
l
section 101J(6)(a) of that Act (application for extension under section 101J(2) of that Act of a period for compliance).
7
Regulations may amend subsection (6) by—
a
adding any provision of this or any other enactment to the list in that subsection, or
b
omitting or altering the description of any provision mentioned in that list.
8
The Panel may be authorised under paragraph 20(4) or (6) of Schedule 1 to exercise further functions of the Regulator on behalf of the Regulator.
9
The Panel may authorise any of its members or any of its sub-committees to exercise on its behalf—
a
any of the functions of the Regulator which are exercisable by the Panel on behalf of the Regulator, or
b
any of the functions of the Panel under section 93(3), section 99(11) and paragraph 18(2) of Schedule 1 (procedure).
10
This section is subject to any regulations made by the Secretary of State under paragraph 21 of Schedule 1 (power to limit or permit delegation of functions).