Paragraph 21 I1I2

In Schedule 2 (the reserved regulatory functions), after Part 4 insert—

“PART 4A

Functions under Part 2 of the Pension Schemes Act 2021

44A

The power to give a direction under section 74(2) (direction to obtain actuarial valuation or take other steps to remedy or mitigate failure in relation to a collective money purchase scheme).

44B

The power to give a direction under section 80(6) (direction to implement proposals in a resolution plan).

44C

The power under section 81 to withdraw authorisation of a collective money purchase scheme.

44D

The power to give a direction under section 92(4) (direction to pursue a continuity option).

44E

The power to make a pause order under section 95.

44F

The power to make an order under paragraph 2(2) of Schedule 5 extending the period for which a pause order has effect.

44G

The power to make an order under paragraph 3 of Schedule 5 validating action taken in contravention of a pause order.

44H

The power to make an order under paragraph 4(3) of Schedule 5 directing the notification of members or employers.”