Paragraph 10 Notification to FM providersF1
The trustees of a relevant trust scheme must give a tender completion notice to any in-scope FM provider who is—
appointed on or after the commencement date, or
given authority to manage additional manageable assets on or after that date.
The trustees of a relevant trust scheme must also give a tender completion notice to any NRP FM provider who is to continue to provide fiduciary management services under their existing arrangements with the trustees following a qualifying tender process under paragraph 9(3) in respect of those services.
A “tender completion notice” is a notice in writing which states that—
where sub-paragraph (1) applies, either—
the appointment or increase is made following the carrying out of a qualifying tender process under paragraph 8, or
no such tender was required before the appointment or increase was made;
where sub-paragraph (2) applies, a qualifying tender process has been carried out under paragraph 9 in respect of the fiduciary management services provided under the existing arrangements with the relevant FM provider.
Annotations
Textual amendments
- F1
Sch. inserted (1.10.2022) by The Occupational Pension Schemes (Governance and Registration) (Amendment) Regulations 2022 (S.I. 2022/825), reg. 1(2), Sch.