Section 88 Responding to events of concernI1
England, Wales and Scotland Not yet in force
If an event of concern takes place in relation to an operating superfund, the Regulator must require the responsible body or the trustees of the superfund scheme, or both jointly, to propose a plan for responding to the event of concern (a “response plan”) within a period specified by the Regulator.
The Regulator must approve a proposed response plan if satisfied, having regard to the interests of members of the superfund scheme, that the response plan—
meets the requirements of section 89 (content of response plan), and
is an appropriate plan for responding to the event of concern.
If, having received a proposed response plan, the Regulator is not so satisfied—
it must explain to the person that proposed the plan why not, and
that person must propose another response plan, within the period required by the Regulator, that takes account of that explanation.
An approved response plan may be amended, or replaced with a new approved response plan, by agreement between the person that proposed the plan and the Regulator.
If the Regulator is satisfied—
that an approved response plan has been carried out, and
that the event of concern in question has been adequately resolved,
it must give a notice to that effect to the person that proposed the plan.
In subsections (2) and (3), “proposed response plan” means a response plan proposed by virtue of subsection (1) or (3)(b).
Annotations
Commencement
- I1
S. 88 not in force at Royal Assent, see s. 133(7)