{
  "url": "https://openlegislation.uk/occupational-pension-schemes-scheme-administration-regulations-1996/regulation-35",
  "json_url": "https://openlegislation.uk/occupational-pension-schemes-scheme-administration-regulations-1996/regulation-35.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/35",
  "kind": "regulation",
  "number": "35",
  "heading": "Duty to set objectives for IC providers",
  "text": "(1) The trustees of a relevant trust scheme must set objectives for each IC provider.\n(2) The trustees must—\n(a) when setting objectives for an IC provider, have regard to the statement of investment principles, in so far as it is relevant to services provided, or to be provided, by that provider;\n(b) where the IC provider is appointed on or after the commencement date, ensure that the IC provider’s objectives are set by the end of the day on which the IC provider’s appointment takes effect.\n(3) The trustees must review and, if appropriate, revise an IC provider’s objectives—\n(a) at least every three years, and\n(b) without delay after any significant change in investment policy.\n(4) Where an existing IC provider has strategic objectives which were set, before the commencement date, under Article 12 of the 2019 Order (“the existing objectives”)—\n(a) the existing objectives are to be treated as if they had been set by the trustees under paragraph (1), and\n(b) the trustees must complete the first review of the existing objectives for the purposes of paragraph (3)(a) before the end of the period of three years beginning with the date on which those objectives were set under Article 12 of the 2019 Order.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 6 inserted (1.10.2022) by The Occupational Pension Schemes (Governance and Registration) (Amendment) Regulations 2022 (S.I. 2022/825), regs. 1(2), 2(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/1715/regulation/35",
    "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."
}