PART 2Governance
CHAPTER 2Actuary and valuation
Procedure for agreeing steps to achieve target cost10
1
This regulation applies if notice is given under regulation 9.
2
The Secretary of State must make a request to the Scheme Advisory Board—
a
to consider the matter; and
b
give advice to the Secretary of State as to the means by which the target cost is to be achieved.
3
The Secretary of State must consider the advice and seek to reach agreement with the Scheme Advisory Board as to the means by which the target cost is to be achieved.
4
In acting under paragraphs (2) and (3), the Secretary of State must specify the date before which—
a
the advice must be provided; and
b
agreement must be reached.