PART 1Collective money purchase benefits
Ongoing supervision
30Withdrawal of authorisation
1
If the Pensions Regulator stops being satisfied that an authorised collective money purchase scheme meets the authorisation criteria, it may decide to withdraw the scheme’s authorisation.
2
A warning notice under the standard procedure or a determination notice under the special procedure given in relation to a decision under subsection (1) must—
a
explain that the issue of the notice is a triggering event (see section 31), and
b
include an explanation of the trustees’ duties under sections 31 to 45.
3
On withdrawal of a scheme’s authorisation, the Pensions Regulator must—
a
notify the trustees that the scheme is no longer authorised, and
b
remove the scheme from the list of authorised collective money purchase schemes.
4
In this Part—
“determination notice” has the meaning given in section 98(2)(a) of the Pensions Act 2004;
“special procedure” has the meaning given in section 98 of that Act;
“standard procedure” has the meaning given in section 96 of that Act;
“warning notice” has the meaning given in section 96(2)(a) of that Act.