Section 133 CommencementI1

England, Wales and Scotland

(1)

Any provision of or amendment made by this Act, so far as it confers a power to make subordinate legislation, comes into force on the day on which this Act is passed.

(2)

So far as not brought into force under subsection (1), this Act comes into force as follows.

(3)

Part 1 comes into force on such day as the Secretary of State may by regulations appoint.

(4)

Part 2 comes into force as follows—

(a)

Chapter 1 comes into force on such day as the Secretary of State may by regulations appoint;

(b)

Chapter 2 comes into force on the day on which this Act is passed;

(c)

Chapter 3 comes into force as follows—

(i)

section 40, in respect of the insertion of section 28K of the Pensions Act 2008 (report about effects of pension scheme consolidation), comes into force on the day on which this Act is passed;

(ii)

the remaining provisions of Chapter 3 come into force on such day as the Secretary of State may by regulations appoint;

(d)

Chapter 4 comes into force on such day as the Secretary of State and the Treasury jointly may by regulations appoint;

(e)

Chapter 5 comes into force on such day as the Treasury may by regulations appoint;

(f)

Chapter 6 comes into force on such day as the Secretary of State may by regulations appoint.

(5)

Regulations under subsection (4)(c) may not provide for the following to come into force before 1 January 2030—

(a)

section 40 (4), in respect of the insertion of Condition 1 in section 20(1A) of the Pensions Act 2008 (Master Trusts to be subject to scale requirement);

(b)

section 40 (8), in respect of the insertion of section 26(7A) of that Act (group personal pension schemes to be subject to scale requirement)

(but nothing in this subsection prevents section 40 from being brought into force before that date in respect of the insertion in that Act of other provision related to that mentioned in paragraph (a) or (b)).

(6)

If section 40 has not been brought into force before the end of 2032 in respect of the insertion of—

(a)

Condition 2 in section 20(1A) of the Pensions Act 2008 (asset allocation requirement: Master Trusts), and

(b)

subsection (7B) in section 26 of the Pensions Act 2008 (asset allocation requirement: group personal pension schemes),

section 40 is repealed at the end of that year in respect of the insertion of those provisions.

(7)

Part 3 comes into force on such day as the Secretary of State may by regulations appoint.

(8)

Chapter 1 of Part 4 comes into force on the day on which this Act is passed.

(9)

Chapter 2 of Part 4 comes into force on such day as the Secretary of State may by regulations appoint.

(10)

Chapter 3 of Part 4 comes into force on the day on which this Act is passed (to the extent this is not already the case as a result of subsection (1)).

(11)

Chapter 4 of Part 4 comes into force as follows—

(a)

sections 121 and 122 come into force at the end of the period of two months beginning with the day on which this Act is passed;

(b)

section 123 comes into force on such day as the Secretary of State may by regulations appoint;

(c)

sections 124 and 125 come into force on the day on which this Act is passed;

(d)

section 126—

(i)

comes into force on 1 April 2026, or,

(ii)

if this Act is passed after that date, is treated as having come into force on that date;

(e)

section 127 is treated as having come into force on 1 April 2007;

(f)

section 128 comes into force on the day on which this Act is passed.

(12)

This Part comes into force as follows—

(a)

sections 129 to 134 come into force on the day on which this Act is passed;

(b)

the Schedule comes into force on such day as the Secretary of State may by regulations appoint.

(13)

Transitional or saving provision may by regulations be made—

(a)

by the Secretary of State in connection with the coming into force of any provision of this Act except Chapter 5 of Part 2;

(b)

by the Treasury in connection with the coming into force of any provision of Chapter 5 of Part 2.

(14)

Regulations under this section—

(a)

may make different provision for different purposes;

(b)

are to be made by statutory instrument.

Annotations

Commencement

I1: S. 133 in force at Royal Assent, see s. 133(12)(a)