PART 1Collective money purchase benefits
Authorisation criteria
12Scheme design requirement
(1)
This section applies for the purposes of enabling the Pensions Regulator to decide whether it is satisfied that the design of a collective money purchase scheme is sound (see section 9(3)(b)).
(2)
In deciding whether the design of a collective money purchase scheme is sound, the Pensions Regulator must take into account—
(a)
the scheme’s viability report and viability certificate (see section 13);
(b)
any matters specified in regulations made by the Secretary of State.
(3)
Regulations under subsection (2)(b) may include provision requiring specified information to be provided to the Pensions Regulator.
(4)
Regulations under subsection (2)(b) are subject to affirmative resolution procedure.