Section 79 Certification of staff supporting individuals responsible for key functionsI1

England, Wales and Scotland

(1)

The responsible body of an operating superfund must ensure, so far as reasonably practicable, that no individual carries out a key function in relation to the superfund unless the responsible body—

(a)

is satisfied, having conducted due diligence in relation to the individual, that the individual is a fit and proper person to carry out the key function, and

(b)

has issued a certificate to the individual confirming that it is so satisfied.

(2)

The responsible body must keep a register of certificates issued under subsection (1).

(3)

In deciding whether it is satisfied as described in subsection (1)(a), the responsible body must take into account, in particular, any matters specified in regulations made by the Secretary of State.

(4)

The Secretary of State may by regulations make provision about certificates issued under subsection (1), including about the period of time for which a certificate is valid.

(5)

Section 10 of the Pensions Act 1995 (civil penalties) applies to the responsible body if it breaches subsection (1).

(6)

Regulations under subsection (3) or (4) are subject to the negative procedure.

Annotations

Commencement

I1: S. 79 in force at Royal Assent for specified purposes, see s. 133(1)