Appointment of service providersU.K.
15. The Administration Regulations are amended as follows—
(a)for the heading to Part 2 substitute “ Advisers and Service Providers ”;
(b)after regulation 6 (duty to disclose information) insert—
“Appointment of service providers in respect of relevant schemes
6A. The trust deed or scheme rules must not contain a provision that—
(a)requires that the administrative, fund management, advisory or other services in respect of the scheme are provided by a person identified in any document; or
(b)restricts the choice of person who may be appointed to provide such services.
(2) Paragraph (1) overrides any provision of a relevant scheme to the extent that it conflicts with that paragraph.
(3) In relation to a relevant scheme which is not a money purchase scheme M1, this regulation applies only in relation to services which are provided in connection with the provision of money purchase benefits.”.
Marginal Citations
M1See S.I. 1996/1715, regulation 1(2), substituted by S.I. 1997/786, for definition of “money purchase scheme”.