Paragraph 12 I1

England, Wales and Scotland Not yet in force

(1)

Section 90 (codes of practice issued by Regulator) is amended as follows.

(2)

In subsection (2), after paragraph (jd) insert—

“(je)

the process for making—

(i)

an application for authorisation of a superfund under Chapter 2 of Part 3 of the Pension Schemes Act 2026;

(ii)

an application for approval of a superfund transfer under Chapter 3 of that Part of that Act;

(jf)

the matters that the Pensions Regulator expects to take into account in deciding—

(i)

whether it is satisfied as described in section 63 (1) of the Pension Schemes Act 2026 (condition for superfund to be authorised);

(ii)

whether it is satisfied as described in section 66 (1)(c) of that Act (“onboarding conditions” for superfund transfers);

(jg)

the discharge of the duties imposed by Chapters 4 and 5 of Part 3 of the Pension Schemes Act 2026 (ongoing requirements for operating superfunds);”.

(3)

In subsection (6), in the definition of “the pensions legislation”—

(a)

after paragraph (d) insert—

“(da)

sections 20, 26 and 28A to 28I of the Pensions Act 2008 (scale and the asset allocation requirement),”;

(b)

omit the “or” before paragraph (h) and after that paragraph insert—

“(i)

Chapter 1, 2, 4 or 6 of Part 2 of, or any provision of Part 3 of, the Pension Schemes Act 2026.”

Annotations

Commencement

I1: Sch. para. 12 not in force at Royal Assent, see s. 133(12)(b)