PART 2Collective money purchase benefits: Northern Ireland

Triggering events and continuity options

86When a decision to withdraw authorisation becomes final

(1)

For the purposes of this Part, in relation to an item 1 or 2 triggering event, a decision to withdraw authorisation becomes final—

(a)

in the circumstances set out in relation to the event in the second column of the table in subsection (2), and

(b)

on the date given in relation to those circumstances in the third column of that table.

(2)

The table is—

Triggering event

Circumstances

Date

Item 1 (issue of warning notice under the standard procedure)

  1. 1.

    The Pensions Regulator makes a determination to withdraw the scheme’s authorisation, and

  2. 2.

    there is no referral of the determination to the Tribunal within the time period allowed for doing so.

The date of the Pensions Regulator’s determination.

Item 2 (issue of determination notice under the special procedure)

  1. 1.

    On a review under Article 94 of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), the Pensions Regulator makes a determination that the scheme’s authorisation should be withdrawn, and

  2. 2.

    there is no referral of the determination to the Tribunal within the time period allowed for doing so.

The date of the Pensions Regulator’s determination.

Item 1 or 2

  1. 1.

    On a referral to the Tribunal of a determination by the Pensions Regulator, the Tribunal makes a determination the effect of which is that the scheme’s authorisation should be withdrawn, and

  2. 2.

    either—

    1. (a)

      no appeal is brought against the Tribunal’s determination within the time period allowed for doing so, or

    2. (b)

      an appeal is brought within that time period but is later withdrawn.

The date of the Tribunal’s determination.

Item 1 or 2

The effect of an appeal against a determination by the Tribunal is that the scheme’s authorisation should be withdrawn.

The date on which the appeal is finally disposed of.

(3)

In this section “the Tribunal” has the meaning given in—

(a)

Article 91(7) of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), in a case where the standard procedure applies;

(b)

Article 94(13) of that Order, in a case where the special procedure applies.