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Regulation 4 Restrictions on charges

Original text. Later amendments are not shown.

(1)

Subject to regulations 9 and 10, the trustees or managers of a relevant scheme must not impose or permit to be imposed on a member of that scheme to whom this Part applies charges which—

(a)

exceed the limits specified in this Part; or

(b)

are of a description prohibited by this Part.

(2)

With the exception of regulation 11, this Part applies—

(a)

to a member of a relevant scheme to the extent of the value of that member’s rights under a default arrangement; and

(b)

beginning with the date on which the first contribution to the default arrangement referred to in sub-paragraph (a) is received by the trustees or managers on or after the date on which this regulation comes into force.