SCHEDULES
SCHEDULE 2Master Trusts operating before commencement: transitional provision
14Modifications having effect from the commencement date
Section 34 (when it becomes clear that authorisation is not to be withdrawn) has effect as if—
a
in subsection (1)—
i
after “2” there were inserted “or 2A”;
ii
after “withdrawn” there were inserted “or refused”;
b
in the table in subsection (3), in the first column (triggering event) for “Item 1 or 2” (in both places) there were substituted “Item 1 or 2 or 2A (decision to refuse to authorise existing Master Trust scheme)”;
c
in that table, in the first row for item 1 or 2 or 2A, in the second column (circumstances)—
i
in point 1, after “determination” there were inserted “or decision”;
ii
in point 2, after “withdrawn” there were inserted “or refused”;
d
in that table, in the second row for item 1 or 2 or 2A, in the second column (circumstances), in point 2, after “withdrawn” there were inserted “or refused”;
e
in subsection (4), at the end there were inserted—
c
section 6(2), in a case where that section applies.
f
in the section heading, at the end there were inserted “or refused”.