4.—(1) The function set out in paragraph (2) is prescribed for the purposes of section 93(2)(q) of the 2004 Act (the Regulator's procedure in relation to its regulatory functions).
(2) The function referred to in paragraph (1) is the Regulator's duty under section 23(4) of the 1995 Act and regulation 2 to compile and maintain a register of persons who satisfy prescribed conditions to act as independent trustees, but only in so far as that duty entails refusing to register an applicant in that register.
(3) The Regulator may, in such circumstances as it sees fit, delegate the function specified in paragraph (2) to the Determinations Panel M1.
Marginal Citations
M1The Determinations Panel is established under section 9 of the 2004 Act.