2(1)Section 154 (persons by whom registered pension scheme may be established) is amended as follows.U.K.
(2)For subsection (1) substitute—
“(1)An application to register a pension scheme may be made only if the pension scheme—
(a)is an occupational pension scheme, or
(b)has been established by a person with permission under FISMA 2000 to establish in the United Kingdom a personal pension scheme or a stakeholder pension scheme.”
(3)After subsection (2) insert—
“(2A)Subsection (1) is to be construed in accordance with section 22 of FISMA 2000, any relevant order under that section and Schedule 2 to that Act.”
(4)Omit subsection (3).
(5)In subsection (4), omit “and section 155”.
3U.K.Omit section 155 (persons by whom scheme may be established: supplementary).
4U.K.In section 273 (members liable as scheme administrator)—
(a)in subsection (5)(a), omit “was established by a person or body specified in section 154(1)(a) to (g) (insurance companies etc) and”, and
(b)in subsection (7), omit “was established by a person or body specified in section 154(1)(a) to (g) and”.