Section 95 — Pensions Act 2004: Application of standard and special procedure

Application of standard and special procedure 95 1 The Regulator must comply with the standard procedure (see section 96) or, where section 97 applies, the special procedure (see section 98) in a case where—

a the Regulator considers that the exercise of one or more of the regulatory functions may be appropriate, or b an application is made under or by virtue of—

i any of the provisions listed in section 10(6), or ii any prescribed provision of this or any other enactment, for the Regulator to exercise a regulatory function.

2 For the purposes of section 96, references to the regulatory action under consideration in a particular case are—

a in a case falling within subsection (1)(a), references to the exercise of the one or more regulatory functions which the Regulator considers that it may be appropriate to exercise, and b in a case falling within subsection (1)(b), references to the exercise of the regulatory function which is the subject-matter of the application.

3 Neither section 96 (standard procedure) nor section 98 (special procedure) apply in relation to a determination whether to exercise a regulatory function on a review under section 99 (compulsory review of regulatory action).