Section 41 Power to override contract termsI1

Paragraph 6 of Schedule 18 to the Pensions Act (Northern Ireland) 2015 (power to restrict charges or impose requirements in relation to schemes: overriding provision) is amended as follows.

After sub-paragraph (1) insert—

“(1A)

The Department may by regulations provide that specified provisions override any term of a relevant contract to the extent that it conflicts with them.”.

In sub-paragraph (2), at the end insert “or (1A)”.

After sub-paragraph (2) add—

“(3)

“Relevant contract” means a contract between the trustees or managers of a relevant scheme and a person providing services in relation to the scheme.”.