Regulation 15 Appointment of service providers

for the heading to Part 2 substitute “ Advisers and Service Providers ”;

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.”.