Section 93 — Pensions Act 2004: The Regulator’s procedure in relation to its regulatory functions

The Regulator’s procedure in relation to its regulatory functions 93 1 The Regulator must determine the procedure that it proposes to follow in relation to the exercise of its regulatory functions.

2 For the purposes of this Part the “ regulatory functions ” of the Regulator are—

a the power to issue an improvement notice under section 13, b the power to issue a third party notice under section 14, ba the power to appoint a skilled person in relation to a public service pension scheme under section 14A, c the reserved regulatory functions (see Schedule 2),

d the power to issue a clearance statement under section 42, e the power to issue a notice under section 45(1) approving the details of arrangements, f the power to issue a clearance statement under section 46, g the power to vary or revoke under section 101 (to the extent that it does not fall within paragraph (c)),

h the power to make an order under section 154(8),

i the power to make an order under section 219(4),

j the power to grant or revoke authorisation under section 288, k the power to grant or revoke approval under section 289, l the power to issue a notice under section 293(5),

m the power by direction under section 2(3)(a) of the Welfare Reform and Pensions Act 1999 (c. 30) to refuse to register a scheme under section 2 of that Act, n the power to make an order under section 7 of the Pensions Act 1995 (c. 26) appointing a trustee (to the extent that it does not fall within paragraph (c)),

o the power to make an order under section 23 of that Act appointing an independent trustee, p the power to give directions under section 72B of that Act (directions facilitating winding up), ... pa the power to give a direction under section 26(7) of the Pension Schemes Act 2017 (direction to submit implementation strategy for Master Trust scheme ), ... pb the power to give a direction under section 23(2) of the Pension Schemes Act 2021 (direction to obtain actuarial valuation or take other steps to remedy or mitigate failure in relation to a collective money purchase scheme),

pc the power to give a notice under section 29(1) or (4) of that Act (risk notices),

pd the power to give a direction under section 29(6) of that Act (direction to implement proposals in a resolution plan),

pe the power to give a direction under section 39(4) of that Act (direction to submit implementation strategy),

and q such other functions of the Regulator as may be prescribed.

3 The Determinations Panel must determine the procedure to be followed by it in relation to any exercise by it on behalf of the Regulator of—

a the power to determine whether to exercise a regulatory function, and b where the Panel so determines to exercise a regulatory function, the power to exercise the function in question.

4 The procedure determined under this section—

a must provide for the procedure required under—

i section 96 (standard procedure),

and ii section 98 (special procedure),

and b may include such other procedural requirements as the Regulator or, as the case may be, the Panel considers appropriate.

5 This section is subject to—

a sections 99 to 104 (the remaining provisions concerning the procedure in relation to the regulatory functions),

and b any regulations made by the Secretary of State under paragraph 19 of Schedule 1.