{
  "url": "https://openlegislation.uk/occupational-pension-schemes-scheme-administration-regulations-1996/regulation-24",
  "json_url": "https://openlegislation.uk/occupational-pension-schemes-scheme-administration-regulations-1996/regulation-24.json",
  "legislation": "uksi/1996/1715",
  "legislation_title": "The Occupational Pension Schemes (Scheme Administration) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/occupational-pension-schemes-scheme-administration-regulations-1996",
  "path": "regulation/24",
  "kind": "regulation",
  "number": "24",
  "heading": "Requirements for processing financial transactions",
  "text": "(1) The trustees or managers of a relevant scheme must secure that core financial transactions are processed promptly and accurately.\n(2) A “core financial transaction” includes (but is not limited to)—\n(a) investment of contributions to the scheme;\n(b) transfers of assets relating to members into and out of the scheme;\n(c) transfers of assets relating to members between different investments within the scheme;\n(d) payments from the scheme to, or in respect of, members.\n(3) In relation to a scheme which is not a money purchase scheme, this regulation applies only in relation to the provision of money purchase benefits.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 24 inserted (6.4.2015) by The Occupational Pension Schemes (Charges and Governance) Regulations 2015 (S.I. 2015/879), regs. 1(2), 18"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/1715/regulation/24",
    "retrieved_at": "2026-10-29T12:39:59.158820+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}